Hard Money Loans in Kansas City

Hard Money Loans with Worcester Financial

Need short-term, secured financing that doesn’t depend on your credit? Our team can help you source high-quality hard money solutions in the shortest time possible.

Our “Rehab and Refinance Loan” is the perfect tool to help the buy-and-hold investor with their investment purchase.

Note: While Worcester Financial LLC is generally an asset-based lender, in the Rehab and Refinance Loans borrower credit and or financials may be reviewed and are usually a determining factor (since refinance is the main exit strategy).

Features of Our Hard Money Loans:

  • Term 6-12 months (Individual loan circumstances may apply)
  • 2-4 points (Points based on total loan amount, minimum fees do apply for smaller loan sizes)
  • 10.5%-16% interest rate (annualized)
  • Loan amounts up to 70% ARV - after repair value of the property (Borrower down payment may apply)
  • For “refinance” to be an acceptable exit strategy, the borrower may be required to pre-qualify for a refinance with a mortgage broker or lender prior to closing.
  • No minimum loan amount
  • Most property types considered (No raw land, no residential owner occupied properties)
  • First Lien Mortgage Position
hard money load

What is Worcester Financial?

Worcester Financial is an asset based, hard money lender offering our borrowers creative financing when a traditional bank loan is not an option. Our loans are short term and generally do not exceed 18 months. The loan is collateralized by real estate or a physical asset. We generally lend up to 70% of the after renovated value of the collateral. Our team underwrites the opportunities in-house and evaluates the risk based on borrower history and market conditions. Upon approval from our underwriting group, we send the opportunity to our group of over 150 accredited investors, allowing them to participate as a co-lender. Once a loan is closed, Worcester Financial acts as the servicing agent to the borrower and investor, collecting payments and issuing distributions monthly.