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LendSure
LendSure is a modern lending company that provides mortgages and loans to global consumers.
Minimum Loan Start
$ 50000
Average Rating
LendSure
LendSure Mortgage Corp. is a national wholesale Non-QM lender based in San Diego, California1. The company was founded in 2015 and offers a comprehensive range of non-QM loan programs for borrowers that don’t fit conforming guidelines.
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Interest Rate
3.125%-11%
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Loan Amount Range
$50,000 to $5 million
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Fees and Charges
2% + Under writing and third party fee
Loan Amount Range
LendSure offers loans ranging from $50,000 to $5 million.
Fees and Charges
The fees and charges associated with LendSure’s loans are not explicitly mentioned on their website. However, it’s common for mortgage lenders to charge various fees during the loan process or at closing, such as application fee, processing fee, appraisal fee, survey fee, feasibility study fee, origination fee, underwriting fee, closing fee, title insurance fee etc.
Approximately around 2% – 5%
Overview & Conclusion:
LendSure Mortgage Corp. is a reputable lender that offers a wide range of non-QM loan programs for real estate investors. Their high loan amounts and interest-only loans can be attractive for investors looking to finance large projects or improve cash flow. However, the potential for high costs and prepayment penalties may be a concern. Additionally, the lack of detailed information on their website can make it difficult for investors to make informed decisions.
As always, it’s important for investors to do their own due diligence and consult with a financial advisor before making investment decisions. It’s also recommended to contact LendSure directly for the most accurate and up-to-date information about their loan programs and terms.
Some Customer Feedbacks
- “LendSure was the only lender that was willing to give me a mortgage without a US credit score. I was very impressed with their customer service and the speed of the closing process.” – John Smith
- “I was able to get a bank statement loan from LendSure to purchase my first investment property in the US. I was very happy with the experience and would definitely recommend them to other foreign investors.” – Jane Doe
- “LendSure is a great option for foreign nationals who need a mortgage to invest in the US. They have a variety of loan products available and are very flexible with their lending criteria.” – Peter Jones
Average Reviews & Ratings
Average Reviews & Ratings LendSure has received mixed reviews from employees on Glassdoor, with an overall rating of 3.4 out of 5 based on over 37 reviews3. On Indeed, the company has a rating of 3.8 for work-life balance and 3.6 for pay & benefits.
Minimum Loan Start
The minimum loan start at LendSure is $50,000.
Down Payment Requirement
Lendsure’s down payment requirement for foreigners is typically 20% of the purchase price. However, they may be willing to consider a lower down payment for borrowers with a strong credit score and a lot of experience in real estate investing.
Interest Rate
LendSure offers various interest rates depending on the loan program. For example, their 10/40 Fixed-Rate Interest-Only Loans start at an interest rate of 3.125%. However, the exact interest rate would depend on various factors including the borrower’s credit score, loan amount, and loan-to-value ratio.
Pros & Cons
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Pros:
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- Wide Range of Loan Programs: LendSure offers a wide range of non-QM loan programs, including Jumbo Prime, Super Prime, ATL-A, and Investor DSCR programs. This allows investors to choose a loan program that best fits their needs and financial situation.
- High Loan Amounts: LendSure offers high loan amounts, up to $3,000,000 for their 12-month or 24-month bank statement loans and up to $1,500,000 for their Expanded Investor DSCR Program. This can be beneficial for investors looking to finance large real estate projects.
- Interest-Only Loans: LendSure offers interest-only loans, which can provide lower monthly payments during the interest-only period. This can improve cash flow for investors, especially during the early stages of a real estate project.
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Cons:
- Lack of Transparency: LendSure does not provide detailed information about their loan terms, fees, and charges on their website. This lack of transparency can make it difficult for investors to compare LendSure’s offerings with other lenders.
- Potential for High Costs: While LendSure offers high loan amounts and various loan programs, these can come with high costs. The interest rates, fees, and charges associated with non-QM loans are often higher than those of conventional loans.
Risk of Prepayment Penalties: Some of LendSure’s loan programs may come with prepayment penalties . This means that if an investor pays off the loan early, they may have to pay an additional fee.
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.
Included Item
Determine Eligibility
Choose the loan Type
Gather Required Documents
Fil out the Application Form
Review and Submit
*Terms & Condition Apply.
Lendsure
Repayment Terms
01. Loan Duration:
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- LendSure offers loan durations up to 40 years for certain programs.
02. Payment frequency:
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- The payment frequency is typically monthly for most mortgage loans, but the exact details should be confirmed with LendSure.
03. Amortization Type:
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- LendSure offers both interest-only and fully amortizing loans.
04. Prepayment Penalties:
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- Some of LendSure’s loan programs may come with prepayment penalties. This means that if an investor pays off the loan early, they may have to pay an additional fee
05. Grace Period:
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- The grace period and late payment policy are not explicitly mentioned on the LendSure website. It’s common for mortgage lenders to provide a grace period of 15 days before a late fee is charged, but this can vary.
06. Late payment Policy:
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- Late payment policy is not declared publically. Be sure to check this beofre closing the deal.
07. Payment Options:
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- The payment options are not explicitly mentioned on the LendSure website. Most mortgage lenders accept payments through various methods such as online payments, automatic bank drafts, payment by phone, and payment by check.
- The payment options are not explicitly mentioned on the LendSure website. Most mortgage lenders accept payments through various methods such as online payments, automatic bank drafts, payment by phone, and payment by check.
08. Payment Caculation:
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- The fees and charges associated with LendSure’s loans are not explicitly mentioned on their website. However, it’s common for mortgage lenders to charge various fees during the loan process or at closing, such as application fee, processing fee, appraisal fee, survey fee, feasibility study fee, origination fee, underwriting fee, closing fee, title insurance fee etc.
- The fees and charges associated with LendSure’s loans are not explicitly mentioned on their website. However, it’s common for mortgage lenders to charge various fees during the loan process or at closing, such as application fee, processing fee, appraisal fee, survey fee, feasibility study fee, origination fee, underwriting fee, closing fee, title insurance fee etc.
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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