Investors seeking fix and flip loans in St. Louis require a lender that understands the nuances of the local market and can provide fast, reliable funding. Westre Financial Group offers an efficient lending process tailored to real estate investors, making them a preferred choice for those looking for quick closing loans in St. Louis.

Understanding Fix and Flip Loans

Fix and flip loans are short-term loans used by investors to purchase and renovate properties with the intention of selling them for a profit. These loans are usually secured by the property itself, focusing more on the collateral value rather than the borrower's creditworthiness.

Westre Financial Group specializes in this type of financing within St. Louis City and County. Their system is straightforward and designed to support investors in acquiring properties quickly, performing necessary renovations, and selling them profitably.

The Loan Process

The loan process at Westre Financial Group is designed for efficiency. Investors begin by completing a borrower application available through their website. If a pre-approval letter is required, it is provided promptly upon submission.

Once an investor identifies a property, they complete a property application and submit proof of funds necessary for the renovation work. Brad Westre personally visits the property the following day to assess its viability based on four critical criteria:

  • Purchase Price
  • Renovation Cost
  • Soft Charges
  • Anticipated Selling Price, derived from comparable area sales

If the analysis predicts a reasonable profit margin, the loan is approved for 100% of the purchase price. The funding is expedited and made available as soon as the title company is ready.

Lending Policies and Restrictions

Westre Financial Group maintains specific lending criteria to protect both the borrower and the lender. They exclusively lend within St. Louis City and County, capitalizing on their extensive knowledge of these markets. They do not provide funds for rehabilitation costs, firmly believing that investors should have their renovation financing secured independently.

Additionally, they do not lend on properties located within floodplains due to the high costs associated with flood insurance. There are no extraneous charges; only a 2% origination fee is added to the loan. No credit check fees, appraisal fees, processing fees, or application fees are required.

An important requirement is that Westre Financial Group must be named as the Mortgagee on the property documentation, with the clause designating Westre Financial Group, LLC, PO Box 411035, St. Louis, MO 63141.

Why Westre Financial Group Stands Out

Investors choosing Westre Financial Group for Fix and flip loans St. Louis benefit from a range of advantages:

  • Competitive and low-cost financing
  • Rapid and dependable funding
  • 100% financing of the purchase price
  • Absence of junk fees
  • Willingness to work with non-Missouri residents
  • In-house loan processing for faster service
  • No penalties for early repayment

Westre Financial Group funds all loans using their own capital, avoiding delays and complications often caused by relying on outside investors.

The Importance of Quick Closings

In the fix and flip business, speed is often critical. Properties suitable for renovation and resale are highly sought after, and the ability to close quickly can secure an investor's position in a competitive market. With Westre Financial Group, investors can count on quick closing loans in St. Louis, ensuring that financing does not become an obstacle to securing a deal.

Their experienced team ensures that the entire lending process moves swiftly and smoothly, giving investors a significant advantage over competitors relying on slower traditional financing methods.

Conclusion

For investors in search of reliable fix and flip loans St. Louis, Westre Financial Group offers a proven solution. Their expertise, efficient processes, and commitment to client success make them a trusted partner for real estate investment funding. Investors looking to secure quick closing loans in St. Louis are encouraged to explore the services provided by Westre Financial Group to ensure their next investment venture is a success.