Boston, Massachusetts – Norfolk Capital, greater Boston’s leading Hard Money lender, has just announced new lending programs for real estate investors in the Massachusetts, Rhode Island, and New Hampshire areas. Qualified borrowers can now finance their 12-month fix and flip or bridge loans for as little as 8.49%, and some borrowers can receive their funds in just a few days. These programs are now among the most competitive programs in Boston.
“Last Month, Norfolk Capital launched a new direct lending fund and combined with new partnerships, we are able to offer extremely competitive programs for all of our borrowers,“ says Norfolk Capital’s Founder, Patrick Targete, “We are continually developing best programs for all of our borrowers. While not everyone will qualify for the 8.49%, we have been working tirelessly to provide the best programs for every investor’s situation.”
While the 8.49% rate is for short term loans, longer-term business-purpose loans start as low as 6.25%. Hard Money rates are higher than what conventional banks may provide, but Hard Money lenders can move much faster, and rely on different underwriting criteria than traditional banks, filling a much-needed space in the lending landscape.
“Norfolk prides itself on service, speed, and experience that we bring to the table”, says Jonathan Chen, Norfolk’s President and COO, “Borrowers who aren’t sure Hard Money is for them should call our team for a free consultation. Our originators are all experienced developers themselves, and have walked in our client’s shoes. They will do everything they can to get you the best loan.”
Norfolk Capital, launched in 2011, provides hard money funding for real estate investors looking for bridge, fix and flip, and long term projects. Norfolk also has programs for SFR, 1-4 multi, 5+ residential properties, mixed-use, and commercial properties as well. Rates will vary depending on a number of factors including term, project type and complexity, value of the project, loan size, location, and borrower experience.
For more questions please contact Norfolk Capital for a free consultation.