Lending Options
Available Loan Options
For Builders
For Home Buyers and Sellers
Scrutinizing Lenders
Specialized Loan Products
We work with a variety of lenders offering specialized loan products. Below is a short list of some of the types of lenders and loans we can connect you with:
Due to increasingly strict institutional loan requirements, hard money lenders have become a go-to option, particularly for builders. We maintain long-term relationships with over a dozen hard money lenders, each offering different terms and loan sizes ranging from $50,000 to $30 million. These lenders cater to first-time buyers, developers, farmers, remodelers, and entrepreneurs.
A Mortgage Banker typically represents only one lending institution and originates loans with their own funds, providing more consistent underwriting guidelines resulting in less surprises. A Mortgage Broker, on the other hand, shops around for loans from various lenders, which can sometimes introduce unpredictable requirements and delays. We recommend two highly reliable mortgage bankers and one mortgage broker who have proven records of delivering creative and effective loans.
We work with a select few lenders who specialize in financing finished lots, raw land, and/or developmental land. These lenders provide competitive rates and flexible terms that are not typically available through traditional lenders.
Fortunately for you, we can connect you with institutional as well as private lenders. For buyers interested in remodeling and selling, we collaborate with four lenders who offer tailored loans for these types of projects. Whether you need a straightforward mortgage or a more creative financing solution, we have options to support your investment. One of our local institutional lenders will even provide you with the money to do the actual remodeling itself, as well as the money to purchase the property. All of these loans are at very competitive rates.
A Debt Service Coverage Ratio (DSCR) loan is ideal for buyers who may not show substantial income on their tax returns. These loans allow borrowers to qualify based on the projected rental income of the property rather than personal income. If the property has a rental history, we can use that, or we can rely on the projected rental income. This flexibility allows you to switch the property’s use from long-term rental to short-term rental or even rezone it for a higher and better use. If the projected future income is higher than past rental income, we can use whichever amount is greater.
We can connect you with lenders who offer no-income verification loans, which can be especially helpful for entrepreneurs or self-employed individuals. These loans will take into account that you are self-employed but have cash flow even though you might not claim much income on your tax returns.
We work with a variety of lenders who specialize in FHA, VA, USDA Rural Development loan, and other government-backed loans. These options include conventional loans underwritten by Fannie Mae and Freddie Mac. If you and the home both qualify, these are some of the best loans around. In fact, VA loans are assumable so you can sometimes get a really low-interest loan.
Some lenders we work with offer down payment and closing cost assistance for Buyers, which can also be a benefit to Sellers. For example, through the North Carolina Housing Program, Buyers may qualify for up to $15,000 in down payment and closing cost assistance. These loans are often easier to secure than one might think. In a competitive offer situation, we help our Buyer win the contract to purchase. How? This $15,000 grant allows our Buyers to pay the Seller's closing costs. Thereby, having a competitive edge over the other Buyers.
Advocating for You
Disclaimer and Disclosure
PinDrop Group LLC is strictly a real estate brokerage and does not act as a lender, mortgage banker, or mortgage broker. We do not hold financial licenses or certifications and only receive compensation as a real estate brokerage. However, with your permission, we will monitor lenders to ensure they act in good faith and in your best interest. You are encouraged to consult with additional qualified lenders, financial experts, attorneys, or CPAs before making any legal or financial commitments.
