REAL ESTATE LOAN
Welcome to Your Trusted Partner in Real Estate Financing
At Lumica Capital, we understand the dynamic needs of the real estate market. Our tailored loan programs are designed to provide flexible, fast, and efficient solutions for various real estate ventures. Explore our diverse loan programs to find the perfect fit for your next project.
LOAN PROGRAMS
Commercial Loans
Lumica Capital maintains strong banking and private lending relationships, which gives us the ability to offer an array of loan programs that will best serve our clients’ needs and their unique situation. Lumica Capital provides varying commercial loan programs to purchase and refinance almost all types of commercial real estate properties. Our experienced representatives can direct which loan program best suits our clients’ needs whether SBA, conventional, alternative, or investment, and with different qualification requirements such as stated or low doc loan programs.
Bridge Loans
Bridge loans are advanced to cover the period between the termination of one loan and the start of another. It is arranged generally to complete a purchase before the borrower receives payment from a sale, or before a long-term loan is made available upon fulfillment of its requirements. Also referred to as bridge or gap financing.
Bridge loans carry relatively higher interest rates and usually have a shorter term of six months to one or two years. These loans can remove the financial obligation from a previous loan or provide immediate funds to the borrower.
In commercial real estate transactions, bridge financing gives buyers the flexibility they need to quickly take advantage of short-term opportunities. Most often, bridge loans are used to buy a property that needs significant upgrades or renovations before lenders will consider offering longer-term, lower-interest financing.
Hard Money Loans
A hard money loan is a specific type of asset-based loan financing in which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans, which are typically provided by private lenders, are typically issued at higher interest rates than conventional commercial or residential property loans, and are more asset based opposed to credit and financial strength of the borrower. Hard money is similar to a bridge loan which usually has similar criteria for lending as well as the cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high-interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring. Many hard money mortgages are made by private investors, generally in their local areas. Usually the credit score of the borrower is not important, as the loan is secured by the value of the collateral property.
Rehab/Fix and Flip Loans
Fix and flip loans are used by short-term real estate investors to purchase and renovate a property before flipping it for a profit. This type of financing for flipping houses offers investors fast closings for properties in any condition. Loan programs are also available for fix and hold opportunity when an investor elects to maintain ownership of the property to realize rental income.
Get Started Today!
Ready to take the next step in your real estate journey? Contact us now to learn more about our loan programs and discover how we can help you achieve your real estate investment goals.