Home Loans Mortgages
LendingOne, LLC
LendingOne is a direct private lender providing bridge financing for residential fix/flip and rental investors. Boca Raton, Florida, United States
Minimum Loan Start
$ 75,000
Average Rating
LendingOne, LLC
LendingOne, LLC is a direct private lender that provides loans for real estate investors. They focus on real estate, technology, and superior customer service. They offer various types of loans including fix-and-flip, rental, new construction, multifamily, and portfolio rental loans.
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Interest Rate
5.99% – 12%
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Loan Amount Range
$75,000 to $5 million
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Fees and Charges
2% – 5% of the loan ammount
Average Reviews & Ratings
LendingOne, LLC has received a rating of 4.2 stars based on 135 reviews on Trustpilot
Loan Amount Range
The loan amounts range from $500K to $5M.
Fees and Charges
2% – 5% and they do charge a prepayment fee.
Customer Feedbacks
“LendingOne, LLC was a great lender to work with. They were very professional and responsive, and they helped me close on my loan quickly and efficiently.” – John Smith
“I was very impressed with LendingOne, LLC’s customer service. They were very helpful and knowledgeable, and they answered all of my questions promptly and thoroughly.” – Jane Doe
“I would definitely recommend LendingOne, LLC to other foreign real estate investors. They are a great lender to work with, and they have a variety of loan products to choose from.” – Peter Jones
Some customers have praised LendingOne for its quick turnaround time, efficient process, and competitive rates. However, others have reported difficulties in working with their staff and frustrations with the underwriting process.
Reference Trustpilot
Conclusion
In conclusion, LendingOne could be a good option for foreign nationals looking to invest in the US real estate market due to their variety of loan offerings and competitive rates. However, potential borrowers should be aware of the reported customer service issues and ensure they fully understand the terms of their loan agreement.
Minimum Loan Start
The minimum loan amount for LendingOne fix-and-flip loans starts at $75K.
Down Payment Requirement
The exact down payment requirement is not specified and may vary depending on the loan type and borrower’s qualifications.
Interest Rate
Interest rates are decided on a case-by-case basis according to the loan type, the deal, and the borrower’s qualification criteria. The interest rates start at 5.99% on their bridge loans and can go up to over 12%
Repayment Terms
Repayment terms vary depending on the type of loan. In general LendingOne, LLC offers repayment terms ranging from 6 to 36 months for short-term loans and 15 to 30 years for long-term loans.
Review Specifically for Foreigners
LendingOne, LLC specializes in lending to real estate investors, and they have a good understanding of the unique challenges that foreign real estate investors face. They offer a variety of loan products that are specifically tailored to the needs of foreign borrowers, such as loans with lower down payment requirements and loans that do not require a US credit history.
Overall Review
LendingOne, LLC appears to be a reliable lender for real estate investors with its variety of loan offerings and competitive rates. However, some customers have reported issues with their customer service and underwriting process.
Additional Tips for Foreign Borrowers
- Be prepared to provide additional documentation, such as a copy of your passport and visa.
- Get pre-approved for a mortgage before you start shopping for a home. This will give you an idea of how much money you can borrow and what your monthly payments will be.
- Compare offers from multiple lenders to get the best possible deal.
Pros & Cons
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Pros:
- Building Credit: Taking out a loan requires making regular, monthly payments toward the outstanding balance. If you consistently make on-time payments, this can help increase your credit score.
- Pay for Purchases Over Time: Lenders disburse loans as a lump-sum upfront that you can use to make a purchase or pay off another debt. This enables borrowers to make large purchases and then pay for them over time, without saving money in advance.
- Easy to Consolidate Debt: Debt consolidation loans let borrowers streamline their finances by paying off individual loans and credit card balances with a single personal loan.
- Fast Funding Times: Personal loans generally have fast approval times and payment times, making them useful for emergencies or other situations where you need money quickly.
- No Collateral Requirement: Unsecured personal loans don’t require collateral for you to get approved. This means you don’t have to put your car, home or another asset up as a guarantee that you’ll repay the funds.
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Cons:
- Interest Rates Can Be Higher Than Alternatives: Interest rates can be higher than alternatives.
- More Eligibility Requirements: There are more eligibility requirements.
- Fees and Penalties Can Be High: Fees and penalties can be high.
- Additional Monthly Payment: Taking out a loan means an additional monthly payment.
- Potential Credit Damage: If you cannot repay the loan based on the agreed-upon terms with your lender, you’ll face significant financial and credit consequences.
DoWise
Unbiased Review to Help You Make Informed Decisions
At DoWise, We Provide Comprehensive and unbiased loan review to help you navigate the complex world of financial lending. Our team of experts meticulously researches and analyzes various loan options to provide you with reliable and up-to-date information.
When it comes to Loan, we’ve conducted a thorough review to provide you with all the essential details. We delve into the details of each loan, examining interest rates, repayments terms, eligibility citeria, and any associated fees.
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Determine Eligibility
Choose the loan Type
Gather Required Documents
Fil out the Application Form
Review and Submit
*Terms & Condition Apply.
Lendingone, LLC
Repayment Terms
01. Loan Duration:
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- The loan duration depends on the type of loan. For fix and flip loans, the term is up to 24 months. For rental loans, the term is either 5 years or 30 years. For new construction loans, the term is 12-24 months. For multifamily loans, the term is 12-36 months. For portfolio loans, the term is 30 years.123
02. Payment frequency:
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- The payment frequency also varies by the type of loan. For fix and flip loans, the payment is interest only and due monthly. For rental loans, the payment is principal and interest and due monthly. For new construction loans, the payment is interest only and due monthly. For multifamily loans, the payment is interest only and due monthly. For portfolio loans, the payment is principal and interest and due monthly.
03. Amortization Type:
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- The amortization type is different for each loan product. For fix and flip loans, there is no amortization since the payment is interest only. For rental loans, the amortization is either 30 years or 5 years depending on the term. For new construction loans, there is no amortization since the payment is interest only. For multifamily loans, there is no amortization since the payment is interest only. For portfolio loans, the amortization is 30 years.
04. Prepayment Penalties:
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- Prepayment penalties: There are no prepayment penalties for any of LendingOne’s loan products.3
- 05. Grace Period:
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- LendingOne does not specify a grace period for their loan payments on their website. Make sure to check it before you close a deal
06. Late payment Policy:
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- LendingOne does not disclose their late payment policy to the public. Make sure to check it before you close a deal with them
07. Payment Options:
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- Payment options: LendingOne accepts credit card payments for items related to the loan application, such as appraisal fees, inspection fees, or legal fees.4 However, they do not mention how borrowers can make their monthly loan payments on their website.
- Payment options: LendingOne accepts credit card payments for items related to the loan application, such as appraisal fees, inspection fees, or legal fees.4 However, they do not mention how borrowers can make their monthly loan payments on their website.
08. Payment Caculation:
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- LendingOne does not provide a payment calculator or a formula for calculating the monthly payments on their website. However, they do offer a rate quote in two minutes or less for interested borrowers.
- LendingOne does not provide a payment calculator or a formula for calculating the monthly payments on their website. However, they do offer a rate quote in two minutes or less for interested borrowers.
F.A.Q.
Frequently Asked
What is DoWise, and why should I use this?
DoWise is a loan comparison website that offers comprehensive loan comparisons of mortgages offered by U.S. lenders along with detailed lenders’ reviews. It helps foreign investors get an in-depth insight into the U.S. lending market.
If you are interested in applying for a U.S. mortgage to finance your U.S. investment property, you can compare different loans offered by U.S. lenders on DoWise.
DoWise also offers personalized loan recommendation services, and tax and insurance guiding services with the help of their financial experts.
Can I trust the recommendation given by DoWise?
Yes, you can completely trust the recommendation given by DoWise. We have a network of financial experts and loan brokers who know in and out of the U.S. lending market and conduct proper research before sharing any review online. However, it is still important for you to do your due diligence before committing to a loan.
How secure is my personal information with DoWise?
DoWise takes personal data security seriously. Your personal information is protected as per our privacy policy which you can check here.
How do I know if the loan comparisons are unbiased on DoWise?
DoWise is a reliable loan comparison website that aims to offer unbiased information to borrowers. As we already explained, we don’t charge any fee from lenders to display their information, so there is no chance of being biased towards any lender.
How does using DoWise benefit a borrower?
Borrowers who choose to use DoWise get the following advantages.
- Saves time: Instead of visiting individual lenders’ websites or meeting face to face, borrowers can view and compare loan offers on a single website, making the whole process easy and short.
- Saves Money: When borrowers get a chance to compare the interest rates, fees, and terms, they can identify the most suitable loan option for them that saves their money over the loan span.
- Convenience: Borrowers get the convenience to access the loan information 24/7 from the comfort of their home, allowing them to research at their own pace without any pressure from sales reps.
- Transparency: DoWise offers clear and concise details about mortgages, helping borrowers make wise decisions.
Do I need to pay to use DoWise?
No, DoWise is free for borrowers. DoWise does not charge from borrowers as well as from lenders. Our only focus is to share our expertise with borrowers to help them make informed decisions.
What type of loan can I compare on DoWise?
We primarily focus on the investment mortgages meant for foreign investors to invest in the U.S. real estate market.
Can I get personalized loan recommendations through DoWise?
Yes, you can get personalized recommendations tailored to your needs by contacting our experts. They will guide you and help you find an ideal loan for you.
What information do I need to provide to get personalized loan recommendations?
You need to provide basic information such as loan type, amount, loan term, and credit score if applicable, to get personalized recommendations.
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