LendingWise handles any kind of real estate loan and allows you to create the names of your loan programs & define any associated loan guidelines that control the online loan application (Quick App & Full App) and the eligibility engine inside the marketplace. Additionally your workflow steps & required doc checklist can be linked to the loan programs, giving you complete control. Below are a list of the default loan programs built into the platform that are most commonly used by our lenders.
Our most popular loan type used by brokers and lenders of all sizes is the fix & flip program. We have made many custom features & calculations to assist in managing the loan origination process of a fix & flip loan that consists of various unique variables and factors in considering eligibility like After Repair/Rehab Value, Loan to Cost, Reverse calculating the loan terms based off of an ARV percentage. As well as adding unique terms that include financing interest reserves, closing costs, etc…
A Buy & Hold loan program allows a real estate investor to acquire a property with a long term strategy to rent the property. These loans have lower rates and can sometimes be used in a blended loan strategy that includes a rehab loan as well. Our software helps manage all the details needed in a buy & hold scenario like rental valuation.
New Construction loans have more moving parts than a standard fix & flip loan and you will likely be qualifying the borrower & the property slightly different with unique workflow steps & required docs. We have seen a lot of unique scenarios & loan structuring based on existing land deals, JV, or blanket loans which has pushed us into making our Commercial LOS software more robust every day.
We have designed our LOS to support transnational funding, which is related to very short term loans usually for 1-day to 2-3 weeks. This type of loan scenario requires a few unique fields to verify the parties, expected resell date & resale price. We always support unique transaction types to help our clients constantly evolve and grow their product offerings.
We have built out a specific Line of Credit module that supports underwriting a borrower vs. the property. This module allows a lender to create a unique set of stages, workflow steps, & required docs to mange borrowers applying for a line of credit. This module give you a whole new pipeline to manage those borrowers separately from any properties, which tracks and shows how many active loans exist compared to the available credit line.
LendingWise supports Cross Collateralized loans aka Blanket Loans inside the platform, allowing to track any number of properties associated to a single loan. Keep track of many properties details for all the properties, including how they are titled, balances owed, etc…
The real estate industry has evolved so much and creative financing & deal structuring have been invented to support Joint Venture opportunities that require little to no investment from the borrower. These JV deals create a new relationship between a sponsor & the capital provider that require detailed considerations in the processing, underwriting, & deal structuring.
LendingWise supports all the various commercial property types and dynamically displays essential fields related to the commercial property to assist in analyzing the debt service coverage ratio and overall cash flow analysis. The bigger the commercial deal, the more likely usage of spreadsheets & offline analysis will take place, however all the other workflow rules & dynamic required docs will guide processing & underwriting into a smooth decisioning process.
Mezzanine financing is a hybrid of debt and equity financing that gives the lender the right to convert to an equity interest in the company in case of default, generally after venture capital companies and other senior lenders are paid. Structuring these types of deals can be tricky & complicated depending on the size of the deal. Create your own custom workflows, guidelines, & required docs for these types of deals.