Below are some of the more frequently asked Denver Hard Money questions. A more extensive list of FAQs can be found on our parent site at: Fairview Lending: FAQ
1. Is Fairview a direct lender in Colorado?
a. Yes, Fairview is a direct local lender focusing on loans in Denver and throughout Colorado (also GA, FL and IL)
2. Is Fairview a bank?
a. No, Fairview is a privately funded Colorado lender which allows us more flexibility than a traditional bank. We can close transactions that do not fit traditional underwriting guidelines.
3. Does Fairview require an appraisal?
a. Fairview does not require an appraisal since we independently underwrite each transaction in house (see below for how we underwrite Colorado loans)
4. Does Fairview require upfront fees for loans in Denver and throughout Colorado?
a. No upfront fees are required, we underwrite all transactions in house and personally look at each loan to ascertain value
5. What is the average closing time for a Denver hard money or Colorado hard money loan?
a. Each transaction is unique. On average 5-10 days we have closed some loans in as little as 2 days depending on the scenario.
6. How does Fairview underwrite hard money loans?
a. For commercial properties we use the income approach and the sales approach. For residential properties (investment properties only) we focus on recent sales in close proximity to the subject property
7. Can Fairview lend on primary residences?
a. No we strictly are focusing on investment single family homes and commercial transactions
8. In what areas of Colorado do you lend?
a. Fairview has closed loans throughout the state of Colorado including metro Denver, the front range foothills, Colorado springs, Ft. Collins, Boulder, and most of the mountain towns (Breckenridge, steamboat, telluride, vail, etc) Click here for more recently closed transactions…
9. What is Fairview’s average loan term on a hard money transaction?
a. Fairview can provide loans up to 10 years in length depending on the needs of the borrower. Click here for full loan parameters…
10. Does Fairview work with brokers?
a. Yes, we will get a copy of their fee agreement. All fees are put on the settlement statement and paid at closing
11. What property types do you lend on in Denver and throughout Colorado?
a. Single family homes (no primary residences only investment properties), condos, ski homes, cabins, duplexes, nightly rentals, etc.. along with commercial properties (office, retail, light industrial, mixed used). Occasionally we make loans on agricultural land at low loan to values.
12. What is your minimum loan amount?
a. In Denver we are able to loan as low as $25k, outside Denver metro is on a case by case basis
13. Does Fairview provide 100% financing?
a. Unfortunately Fairview does not provide 100% financing programs. On a purchase all of our loans require the borrower to have money in the deal. Our max loan to value is 60%.
14. Does Fairview have a credit score minimum for borrowers in Colorado?
a. Fairview is a collateral based lender and can accommodate most credit challenges. Click here to see some of our recently closed transactions…
15. How do I submit a loan to Fairview for a transaction in Denver or other area of Colorado?
a. Please fill out our one page application at coloradohardmoney.com, there are no fees required for us to review a transaction and we will provide a response within one business day or call us at 303.459..6061 to discuss your scenario.
16. How do I learn more about hard money lending in Denver and Colorado?
a. Our website has hundreds of articles and other resources for borrowers and brokers on hard money lending (www.fairviewlending.com is our main site).
17. How do I know I can trust Fairview?
a. This is a great question. There are many individuals misrepresenting themselves as a direct lender. Fairview is different since we have been in business since 2000 doing hard money loans. Fairview has closed hundreds of loans both in Denver and throughout Colorado (along with GA, FL and IL) and has been featured as an expert in the Denver Post, The Colorado Real Estate Journal, Colorado Biz magazine, and various other publications. We have a 5 star google rating. The principles of Fairview have been featured in the Colorado Real Estate Journal, the mortgage press, the niche report, and the Scottsman’s guide (an industry publication for mortgage brokers. Fairview is also proud of its current A+ rating with the BBB
18. Is Fairview a local lender?
a. Yes; Fairview has an office in Denver, Colorado (Evergreen a suburb of Denver in the foothills). We make all underwriting decisions locally and are the premier Denver Colorado Hard Money lender.
19. I have other questions regarding hard money lending. Are there other resources?
a. Please see our parent site at FairviewLending.com or give us a a call at 303..459.6061