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FAQ
The Answers You Need
Yes. We are direct hard money lenders. We are not brokers.
Are you local lenders?
Yes, our office is located in NW Washington DC.
How fast can you approve a deal?
We can provide approvals by next business day (sometimes same day).
How fast can you close a deal?
We can typically close within 2 weeks
Where do you lend?
All of Washington DC
MARYLAND:
Montgomery County, Prince George’s County, Charles County (other areas considered on a case-by-case basis)
NORTHERN VIRGINIA:
Fairfax County, Arlington County, Prince Williams County, Loudoun County, Fauquier County and the cities of: Alexandria, Falls Church, Fairfax, Manassas, and Manassas Park (other areas are considered on a case-by-case basis)
Do you lend based on "as is" or future value?
Both. If a property does not need rehab, we will lend up to 65% of the “as is” value (we may go higher on case-by-case basis). If property does need rehab, we will lend up to 65% of ARV, with certain considerations given to as-is value and LTC (Loan-to-Cost).
How do you calculate property value?
For preliminary valuation, we look at sold comparables, DOM (days on market) and active listings to help us figure out value. Eventually, we will order an appraisal to confirm value.
Do you look at credit scores?
While we are chiefly equity driven and credit scores are not a primary factor for approval, we do prefer to see at least a 600 minimum credit score.
Based on property, location, borrower’s cash in deal, borrower’s experience, and project feasibility, we may be able to work with lower scores. Also, we review the “Public Records” section to make sure there are no open judgments, liens, and/or bankruptcies.
How do i submit a loan?
The process is very simple. Fill out our online submission form here (this should take you about 10 minutes), then send us the other items we need via email or fax. Usually, that is going to be the sales contract, a repair list, and color pictures
Why do you ask for color pictures with your submission packages?
Color pictures give us an idea of property’s condition. From these pictures we can generally tell how much a property needs in repairs. Also, when we are doing our due diligence and reviewing MLS/MRIS data, we can be certain we are comparing “apples” to “apples.
Can I buy a property with "No out of pocket money"?
Our strong preference is that a borrower has some money in the deal (the “skin in the game” analogy). However, in certain cases, where LTV is significantly lower than 50%, we may consider rolling some costs into the loan.
Do you lend for second mortgages?
No. We can only lend from first lien position.
Do you escrow for repairs?
Yes. We place repair money into escrow account at settlement and reimburse you in draws (as the work is completed).
How does your joint venture program work?
If you need a partner, we can partner with you. If you provide the deal, we can provide funds, repair crews, and project management to help your deal succeed. This can free up your time and your capital to pursue other opportunities. Click here for more information on our joint venture program.
Is there a pre-payment penalty?
No. None of our loan products have pre-payment penalties.
How long have you guys been lending?
Since 2007
Do you lend for private residences?
No. We only finance investment (non-owner occupied) properties. No exceptions.
Do you protect brokers?
Yes, we do. However, we are also willing to sign non-compete or non-disclosure agreements provided by brokers. We do not have a standard agreement in place but will review whatever is provided to us.
Can I close in the name of an LLC?
Yes. As a matter of fact, we only make business to business loans. Our process requires that title be taken in name of business entity (i.e. LLC, Inc., Corp, LLP, etc.). All members of respective entity must sign the loan documents (unless there is a resolution authorizing one member to transact on entity’s behalf). Credit and background checks will be performed on all members who are signing.
Why should I use RevitaLending?
We are local, established lenders (we are based in Washington DC)
As local lenders we know this market very well
We are members of the Better Business Bureau and the American Association of Private Lenders.
Our team has been involved in hundreds of successful local deals (all within the DC Metro area).
We have been lending since 2007
We have millions of available capital to deploy
We do all types of investment real estate loans:
Residential rehab (from small jobs to major renovations, over $100,000)
New construction
Condo conversions
Commercial properties
Mixed use
Vacant land
Cash out refinancing
We do not require tax returns, personal financial statements or bank statements
We are creative and flexible. We understand what investors need and work closely with our borrowers to get deals done.