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Collateralization occurs when a borrower pledges an asset as recourse to the lender in the event that the borrower defaults on the initial loan

Using an asset that is currently being used as collateral for a loan is also used as collateral for a second loan. If the debtor was unable make either loan’s scheduled repayments in time, the affected lender(s) can eventually force the liquidation of the asset and use the proceeds for repayment.

When investors and business owners have a property with equity you can use that to secure another loan. This process is known as cross-collateralization. Cross collateralizing is advantageous because you don’t have to encumber multiple pieces of collateral. Use cross collateralizing to get the money you need for your next project fast

Technically, taking out a second mortgage on a property is considered to be a cross-collateralized loan. In such a case, the property is originally used as collateral for the mortgage. The second mortgage is then tapping into the equity that the property’s owner has accrued for collateral.

If you are trying to refinance a commercial property, there may not be enough equity in the property to fill your need. Cross collateralizing allows you to generate funds for investing or projects that would not be possible with a regular banking organization. With cross collateralization, the lender is able to add extra collateral to the loan, making it more desirable. If your credit rating is not as strong as a regular bank would require, the lender may require a second property as collateral due to the risk that the borrower’s credit rating poses.

Complete our funding application as thoroughly as possible. It’s completely confidential, costs nothing and you’re under no obligation.

FAST QUOTE

For the best terms and a fast answer fill in the form below. Getting a FAST QUOTE will not affect your credit and we don’t pull a score until you’re happy with the loan terms. Our privacy policy confirms we do not disclose information without your consent.

• Your name*
  First Last
• Primary phone*
• Phone extension?
  • Yes
• Phone extension:*
• Your email address*
  Enter Email Confirm Email
• Purpose for loan request*
  ( select one )Real Estate InvestmentPrimary ResidenceBusiness
• Type of loan*
  ( select one )RehabPurchasePurchase and RehabRefinanceBridge LoanForeclosure PayoffNew ConstructionOther
• Type of loan*
  ( select one )PurchaseRefinanceBridge LoanCash AdvanceOther
• Type of loan*
  ( select one )PurchaseRefinanceForeclosure PayoffNew ConstructionOther
• Describe loan needed:*

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• Property Address:*
  For privacy reasons you could leave the Street Address off by putting a 'Private' in that field. If multiple properties state 'Various addresses'. All other address fields are required.
  Street Address City AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces Pacific State ZIP Code
• Property type:*
  ( select one )Single Family House (Detached)Condo/Townhouse/Co-opMulti-family Property (2-4)Manufactured/Mobile HomeMobile Home ParkHotel/LodgingSelf Storage FacilityApartment BuildingRestaurantLand/LotFarm/RanchAuto Repair/Gas StationDay careMedicalWarehouseIndustrialMixed UseStrip Mallother (considered)
• Property type:*
  ( select one )Single Family House (Detached)Condo/Townhouse/Co-opMulti-family Property (2-4)Manufactured/Mobile HomeLand/LotFarm/RanchMixed Useother (considered)
• Describe real estate:*
• Property's current As-Is value:*
• Property purchase price?*
• Total loan amount you're requesting:*
• Maximum you can put down:*
• Number Calculation
• How much is the rehab cost?*
• What is the After Repaired Value?*
•  
  Creative Options
  Experience, equity and credit will help you get the best loan options available. If you own real estate we may be able use cross collateralization for your loan (the link opens in new window so you don't lose your place in the application)
• Do you own real estate besides your primary residence?*
  for example, a second home, rental property, flips in progress
  • Yes
  • No
• How many properties do you own:*
  besides your primary residence.
  ( select one )1-45-910-1920+
• How much total equity do you estimate in your real estate holdings?*
  Including your primary residence.
• How many fix-n-flips have you done in the last 36 months*
  that have had your name or your entity's name publicly recorded on title.
• Do you have any fix-n-flips projects currently going on?*
  • Yes
  • No
• How many fix-n-flips are you currently doing:
• Your years in this line of business*
• What is your mid credit score?*
  ( select one )Under 640Above 640Above 720
• Would you like to add any comments or clarifications?
  • Yes
• Comments, questions or clarifications?
• REQUIRED Disclosure to Send Application

  I hereby represent this application is accurate and I authorize We Lend Money™ to use this application, and future information supplied by me, for the purpose of obtaining a loan. I acknowledge while We Lend Money™ is a direct lender, it may, upon my approval, submit this application to their trusted network of quality lenders if better loan terms are available.

  • I agree to the above disclosure

 

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