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First Equity Limited

United Kingdom

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1986 (39 Years)

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First Equity Funding Review

Overview and General Information

First Equity Funding is a privately funded, asset-based real estate lender that specializes in providing financing solutions for real estate investors. Established in 2009, the company has helped countless investors grow their portfolios by providing access to capital for various real estate ventures. While First Equity Funding is not a stock broker, they act as a reliable source of funding for investors looking to purchase, renovate, or develop properties. While specific certifications or licenses held by First Equity Funding were not mentioned in the provided sources, their dedication to providing excellent customer service and efficient loan processes speaks volumes about their commitment to the industry.

Products and Services Offered by First Equity Funding

First Equity Funding offers a range of loan programs designed to cater to the diverse needs of real estate investors. Their primary offerings include: * **Fix & Flip Loans:** These loans are specifically designed for investors who intend to purchase, renovate, and quickly resell properties. * **Rental (DSCR) Loans:** These loans are tailored for investors looking to acquire properties for rental income generation. The debt service coverage ratio (DSCR) determines the loan's eligibility based on the rental income projected from the property. * **New Construction Loans:** As the name suggests, these loans are specifically for investors seeking to build new properties. They provide financing to cover the construction costs and help realize their development plans. Beyond these core loan products, First Equity Funding offers valuable construction consultancy services. This service is designed to assist investors in navigating the complexities of property rehabilitation, ensuring projects are executed smoothly and efficiently.

Product Features and Conditions

Here's a detailed breakdown of the features and conditions associated with First Equity Funding's key loan products:

Fix and Flip Loans

* **Available Rates:** 10% - 13% * **Typical Terms:** 9 months - 12 months * **Points Charged:** 1% - 3% * **Max Loan-to-Value (LTV):** 65% * **Max Loan-to-Cost (LTC):** 100% * **Owner Occupied Allowed:** N/A * **Interest Only Loans:** YES * **Prepayment Penalties:** N/A * **Minimum FICO Score:** N/A * **Time to Close:** 3 - 5 Days

Rental (DSCR) Loans

The provided sources do not contain specific details regarding the features and conditions of Rental (DSCR) Loans offered by First Equity Funding. For specific information, you would need to contact the company directly.

New Construction Loans

Similar to Rental (DSCR) Loans, the provided sources lack detailed information about the features and conditions associated with New Construction Loans. Contacting First Equity Funding directly is recommended to obtain comprehensive details regarding this loan program.

Contact Channels and Customer Support

Unfortunately, the provided sources do not specify contact details like phone numbers, email addresses, chat functionalities, or branch locations for First Equity Funding. If you require specific contact information or need assistance with their services, it is recommended to visit their website or reach out through other online channels. Furthermore, the sources do not provide detailed information about service hours or support quality. While reviews highlight the company's commitment to providing excellent customer service and quick response times, further investigation into their customer support policies and practices is advised.

Pros and Cons of First Equity Funding

Pros

* **Excellent Customer Service and Response Time:** Many reviews emphasize the outstanding customer service and quick response times provided by First Equity Funding. Reviews highlight the expertise and responsiveness of loan officers like Adam Scovill, suggesting a dedication to client satisfaction. * **Knowledgeable and Efficient:** Reviewers commend the company for their deep knowledge and efficient processes when it comes to loan applications and approvals. This efficiency suggests a smooth and streamlined experience for borrowers. * **Honest and Reliable Information:** Clients appreciate the transparent and reliable information provided by First Equity Funding. This trustworthiness fosters confidence and builds positive relationships between the company and its investors. * **Competitive Interest Rates:** The interest rates offered by First Equity Funding are considered competitive within the real estate lending industry. This competitive advantage can help investors secure financing at attractive rates and improve their overall return on investment.

Cons

* **Limited Geographic Coverage:** First Equity Funding primarily serves investors in New Jersey, New York, and Pennsylvania. This limited geographic reach might hinder investors in other regions from accessing their services. * **Negative Reviews:** Although many reviews praise First Equity Funding, some negative reviews exist. These reviews suggest that the company might not be suitable for all investors, particularly those who value their reputation. It is crucial to research thoroughly and understand the potential risks before engaging their services.

Summary of First Equity Funding Review

First Equity Funding emerges as a strong option for real estate investors seeking efficient and quick loan solutions. Their competitive interest rates and commitment to excellent customer service make them a valuable resource for those involved in fix-and-flip, rental, or new construction projects. The company's expertise and streamlined processes contribute to a positive experience for investors. However, potential borrowers should be aware of their limited geographic coverage and carefully consider the mixed reviews available online. Thorough research and due diligence are crucial before making a final decision.

Frequently Asked Questions about First Equity Funding

**Q: What types of loans do they offer?** **A:** First Equity Funding offers Fix & Flip, Rental (DSCR), and New Construction loan programs. **Q: What are the typical terms and rates for Fix & Flip Loans?** **A:** The typical terms for Fix & Flip Loans are 9 months to 12 months, with available rates ranging from 10% to 13%. **Q: How long does it take to close a loan?** **A:** The time to close a loan typically ranges from 3 to 5 days.

Key Takeaways

* First Equity Funding is a reputable private lender specializing in real estate investment loans. * They offer competitive rates and efficient loan processing, particularly for fix-and-flip projects. * Their strong customer service and knowledgeable staff contribute to a positive borrower experience. * Limited geographic coverage and mixed reviews are factors to consider before engaging their services. * Thorough research and understanding the company's services and potential risks are essential before making a decision.

Further Research

To make an informed decision about using First Equity Funding, consider the following: * **Visit their website:** Explore their website for more detailed information about their products, services, and contact information. * **Read independent reviews:** Consult websites like Trustpilot, Yelp, or Google reviews to gather insights from other borrowers. * **Compare rates and terms:** Compare First Equity Funding's loan offerings with other lenders to identify the best option for your specific needs. * **Consult with a financial advisor:** Seek professional advice from a financial advisor to assess your financial situation and determine if First Equity Funding is the right fit for your investment goals. By conducting thorough research and carefully evaluating the information available, you can make an informed decision about whether First Equity Funding is the right partner for your real estate investments.