Habor Lending is Open for Business

Mortgage brokers see these scenarios every month.

The borrower is ready to move. They have found the right home. They have meaningful equity in the property they are selling. But they cannot close on the purchase until that sale goes through, and the seller on the other side may not wait.

Or the borrower is a real estate investor with equity in one property and a time-sensitive acquisition somewhere else.

Or an investor has identified a replacement property for a 1031 exchange, but the timing of the transaction creates a financing gap.

These are borrowers with equity, assets, a story, and an exit strategy. What they may need is a lender built to evaluate the entire scenario rather than only the purchase property.

Harbor Lending was built for that.

 

An Asset-Based Lender Built for Mortgage Brokers

Harbor Lending operates under Nextres, LLC and works with mortgage brokers who need another option for asset-based mortgage lending scenarios.

Harbor is currently licensed in Arizona, California, Colorado, Florida, Idaho, Minnesota, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, and Washington, with Georgia and Utah coming soon.

Our approach starts with the scenario.

What is the borrower trying to accomplish?

What assets and equity are available?

What does the collateral look like?

What is the exit strategy?

The story, the assets, the equity, and the exit strategy help drive the decision.

And Harbor does not compete for the broker's long-term client relationship. When the short-term Harbor loan is paid off, the long-term financing relationship stays with the referring mortgage broker.

 

Buy-Before-Sell

The borrower has owned their home for years and built meaningful equity. They find the next property and want to move before their current home sells.

Selling first may not fit the situation. A sale-contingent offer may also create an obstacle when the borrower is competing for the next property.

A Consumer Bridge Loan can provide another path.

Harbor can structure one loan secured by the purchase property and the departing residence. Available equity in the departing property can help finance the next purchase, allowing a qualified borrower to Buy Before You Sell.

For the right scenario, the borrower may be able to make an offer without a sales contingency and help compete with cash offers.

 

Consumer Bridge Loan highlights:

• Loan amounts up to $3 million. Higher by exception.
• 65% maximum CLTV. Higher by exception.
• 100% or more purchase financing possible based on available equity.
• 11-month term. Interest only payments.
• Minimum FICO of 620. Lower by exception.
• Primary residences and second homes.
• SFRs, condos, townhomes, PUDs, 2-to-4-unit properties, and eligible manufactured homes.
• Harbor can cross-collateralize properties across multiple states in the same transaction, where permitted by applicable state law.
• No formal appraisal required in most cases. Property evaluated via BPO and interior inspection. Subject to program guidelines.
• No EPO. The broker retains the loan fee regardless of when the loan is paid in full.
• Contact us for current rates.

View our consumer loan page here.

Subject to approval and program guidelines. Not all borrowers or properties will qualify. Program availability may vary by state. This is not a commitment to lend.

 

Put Your Equity to Work

A real estate investor may have equity tied up in an existing property while another opportunity is already in front of them.

That may be an acquisition, a fix-and-flip opportunity, a transitional refinance, an equity extraction scenario, or another time-sensitive real estate transaction.

Harbor's Business Purpose Loan is designed to provide short-term, asset-based capital for real estate investors in situations like these.

The focus is on the property, available equity, the transaction, and the exit strategy.

 

Business Purpose Loan highlights:

• Loan amounts up to $3 million.
• 75% maximum CLTV. Higher by exception.
• 100% financing possible based on available equity.
• Up to 24 months. Interest only payments.
• Minimum FICO of 680. Lower by exception.
• Non-owner-occupied properties.
• SFRs, 2-to-4-unit properties, condos, townhomes, PUDs, and multifamily properties.
• Financing that crosses state lines. Harbor can cross-collateralize properties across multiple states in the same transaction, where permitted by applicable state law.
• No formal appraisal required in most cases. Property evaluated via BPO and interior inspection. Subject to program guidelines.
• No EPO. The broker retains the loan fee regardless of when the loan is paid in full.
• Personal guaranty required.
• Four-month interest guarantee.
• Contact us for current rates.

View our business purpose loan page here.

Subject to approval and program guidelines. Not all borrowers or properties will qualify. Program availability may vary by state. This is not a commitment to lend.

 

Protect the 1031 Exchange Process

Timing can become especially important when a real estate investor is purchasing replacement property as part of a 1031 exchange.

The replacement property may be ready before the relinquished property proceeds or transaction structure are available. The properties may also be located in different states.

Harbor's 1031 Exchange Loan provides acquisition capital for real estate investors purchasing replacement property within 1031 exchange timing requirements.

Available equity can help support the acquisition while giving mortgage brokers another financing structure to evaluate when timing becomes a concern.

 

1031 Exchange Loan highlights

• Loan amounts up to $3 million.
• 75% maximum CLTV. Higher by exception.
• 100% financing possible based on available equity.
• 12-month term. Interest only payments.
• Minimum FICO of 680. Lower by exception.
• Non-owner-occupied properties.
• SFRs, 2-to-4-unit properties, condos, townhomes, PUDs, and multifamily properties.
• Asset-based qualification. Property, equity, and exit strategy drive the decision. No income documentation required.
• Financing that crosses state lines. Harbor can cross-collateralize properties across multiple states in the same transaction, where permitted by applicable state law.
• No formal appraisal required in most cases. Property evaluated via BPO and interior inspection. Subject to program guidelines.
• Personal guaranty required.
• Four-month interest guarantee.
• Contact us for current rates.

View our 1031 Exchange Loan page here.

Harbor Lending does not provide tax, legal, or 1031 exchange advice. Borrowers should consult their tax advisor, legal counsel, and qualified intermediary regarding 1031 exchange requirements and deadlines.

Subject to approval and program guidelines. Not all borrowers or properties will qualify. Program availability may vary by state. This is not a commitment to lend.

 

What Sets Harbor Apart

Financing that crosses state lines

Harbor can cross-collateralize properties across multiple states, where permitted by applicable state law.

A borrower may own a home in California and want to purchase in Nevada. An investor may have equity in Colorado and identify an acquisition in Florida. A 1031 exchange may involve relinquished and replacement properties in different states.

Rather than looking only at one property, Harbor can evaluate how the collateral and available equity may work together within the loan structure.

For mortgage brokers with borrowers who own real estate across state lines, that flexibility can create another path to consider.

 

Available Equity Can Change the Purchase Conversation

Sometimes the borrower has the financial strength to make the next move, but much of that strength is sitting in real estate they already own.

That is where available equity can become important.

With the Consumer Bridge Loan, 100% or more purchase financing may be possible based on available equity.

With the Business Purpose Loan and 1031 Exchange Loan, 100% financing may be possible based on available equity.

The exact structure depends on the product and the individual scenario.

For a homeowner, that could mean purchasing the next residence before selling the current one.

For a real estate investor, it could mean accessing equity in existing real estate to help acquire another property.

For an investor completing a 1031 exchange, it could provide another way to address replacement-property timing.

The question is not simply how much equity exists.

It is how the story, the assets, the equity, the collateral, and the exit strategy work together.

 

Help compete with cash offers

For a qualified Buy Before You Sell scenario, a Consumer Bridge Loan may allow the borrower to make an offer without tying the purchase to the sale of their current property.

That can help compete with cash offers and remove the sale contingency from the purchase offer.

Harbor financing is not cash. But for mortgage brokers working with homeowners who have available equity, the Consumer Bridge Loan can provide another way to structure the next purchase.

Subject to approval and program guidelines. Not all borrowers or properties will qualify. Program availability may vary by state. This is not a commitment to lend.

 

How to Submit a Scenario

A complete loan file is not required to start the conversation. When bringing Harbor a scenario, start with three things:

The equity. What does the borrower own, and what debt is currently against the property?

The story. What is the borrower trying to accomplish?

The exit strategy. How is the Harbor loan expected to be repaid?

 

Harbor can evaluate the scenario from there. Submit a loan inquiry at harborlending.com/loan-inquiry.

 

Email: Sales@harborlending.com

Phone: 833-734-1038

Website: harborlending.com

 

Licensed States: Arizona, California, Colorado, Florida, Idaho, Minnesota, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, and Washington.

Coming Soon: Georgia and Utah.

 

Your Safe Harbor for Mortgage Lending

Nextres, LLC dba Harbor Lending dba Harbor Home Lending (AZ, CA). NMLS ID: 2321794. Licensed in AZ, CA, CO, FL, ID, MN, NV, NJ, OH, OR, PA, WA. California Department of Financial Protection and Innovation: 60DBO-165440. Loans will be arranged or made pursuant to a California Department of Financial Protection and Innovation license.

Loans are subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not constitute an approval for financing or an interest rate guarantee. Program availability may vary by state. This is not a commitment to lend. Not all borrowers or properties will qualify. Equal Housing Opportunity.