Before providing private loans, Walnut Street Finance spent twenty years as a builder and developer. We understand your project because we’ve been there. We’re fast, we’re flexible and we know the industry. All of this saves you time and money. Let’s get started.
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Why Choose Walnut Street Finance?
Our application takes less than a minute to complete. We respond quickly, discuss the project, and give you a proposal within 48 hours. We can fund loans in as few as 3 business days.
We know the DC Metro area because we live and work here too. Decisions about your project are made locally by people who understand the market. Chances are we’ve already funded a renovation in your neighborhood.
Our approval process is streamlined to get your project off the ground with as little time, effort and paperwork as possible.
Hard Money Loans Approval Process
Our streamlined process is fast and easy, and we will help you every step of the way – with the loan process, at the closing table, and all the way to the day you sell or refinance your property and start your next project!
Submit the form online and we will get back to you quickly. Our normal response time is within minutes or hours, not days.
After getting more details about the property, your renovation history, and your available equity, we assess the deal. We will then send you a term sheet with our proposed loan amount, rate and terms.
Term sheet and deposit
After you sign and return the term sheet with a small commitment fee, we will order a home appraisal for the property.
Depending on your project and profile, we will ask you to submit some supporting documents. These may include: copies of the sales contract, your corporate documents (if buying as an LLC or organization), a construction budget and schedule. We also require builder’s risk insurance to protect you and us against any accidents at the job site.
We will work with you to create a draw schedule, which determines when you will receive the draws or loan installments during the construction process.
Loan closing and disbursement
We will help you choose a settlement company and get all necessary documents to closing. At closing, you will receive your first loan payment which you will use to buy or refinance your property and get started on your renovations.
At the designated draw schedule milestones, we will inspect the property and you will receive your loan draw payments so you can continue and complete construction.
Sell or refinance
Sell or refinance your property within the loan term and pay back the loan with your proceeds. Then repeat the process on your next deal!
I’m now working on my second project with WSF. The loan process for both was fast and easy. My second loan closed exactly four days after I brought them the deal. Looking for another deal now!Chris JWashington, DC
The WSF team has been fantastic and hands-on the whole way. They have been easy to work with, and have given me tips on everything from roofing to sod, then helped me find a great local realtor and stager. A great partner.John G.Vienna, VA
I have worked with Walnut Street Finance on two deals in DC. Our first property is under contract above asking price, and we're underway with the second. The Walnut Street Finance team has been very helpful and done everything possible to help me succeed.Andy SAlexandria, VA
After submitting a few deals to WSF, an immediate relationship began when every one of our clients expressed the professionalism and support they'd received throughout their projects. Feedback such as this has increased our desire to send more business their way.Walter L., BrokerWashington, DC