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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

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• Your name*
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• Primary phone*
• Phone extension?*
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• Phone extension:*
• Your email address*
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• Purpose for loan request*
  ( select one )Real Estate InvestmentPrimary ResidenceBusiness
• If other, please describe:*
• Type of loan*
  ( select one )PurchaseRefinanceBridge LoanCash AdvanceOther
• Type of loan*
  ( select one )RehabPurchasePurchase and RehabRefinanceBridge LoanForeclosure PayoffNew ConstructionOther
• Type of loan*
  ( select one )PurchaseRefinanceForeclosure PayoffNew ConstructionOther

• Describe loan needed:*
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• Property Address*
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• 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:*
• Maximum you can put down*
  A larger down payment will ensure more options and better lender response.
• What is the As-Is Value*
• Loan amount requesting*
• How much is the rehab cost*
• After Repaired Value*
• Years in business*
  Years company has been established
• How much equity do you have in it?*
• How many Fix-n-Flips have you done*
  in the last 24 Months
•  
  Creative Options
  Credit and equity will help get you the best loan options. If you own real estate we can use collateral for your new loan more info here
• Do you own any real estate?*
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• How many properties:*
  ( select one )Few ( 1-4 )Some ( 5-9 )Several (10-20)Many (20+)
• How's your credit?*
  ( select one )Under a 640Above a 640Above a 720
• Disclosure required to send application
  • I agree to the following

  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 also submit my application for a “hard money” loan to various other direct lenders for approval on my behalf and to share such information with other loan brokers to the extent deemed necessary to obtain the best loan as deemed by We Lend Money™.

 

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Whether we process your loan in-house or with our partner lender you are backed by our We Lend Money Guarantee™ so you have peace of mind of a timely, professional closing and our years of experience in real estate and business.