About Us:

Leading Hard Money Lender in the USA

As the midwests leading and most creative "Hard Money" lender, Lucent Lending is constantly looking for ways to better serve the needs of its real estate investor/clients. Seldom has there ever been a better time to invest in real estate, and moderate priced housing has the largest customer base for this industry with over 50% of all available housing being in this price range.

We work with entrepreneurial investors like you who have realized that despite their creditworthiness, banks are not geared up to do these smaller loans, or if they are, they are not typically able to close on them as rapidly as is required to insure that you do not lose the opportunity to another prospective purchaser.

By employing experienced local investor/rehabbers as our senior loan officers and as a result of literally 100's of years of combined experience in real estate and finance at our home office, we are able to anticipate your needs and react with competitive products and superior service, based on first hand experience and know-how. If we are comfortable with your creditworthiness, the property you have located (as established through our personal inspection of each property and an independent appraisal) as well as your exit strategy for the property, we will approve and fund your loan without delay.

We have been able to fund a loan within one day of receipt of an application! Once we are comfortable with your ability to complete the improvements and sell or refinance the properties we will loan you up to $400,000 that you can treat as your "personal line of credit" to use towards the purchase of similar properties so long as you continue to meet your obligations on your loans in a timely manner. We call this your "Lucent Advantage" as it gives you the ability to compete with any competition you may come up against in purchasing your chosen property.

Areas of Expertise

Customer Service for Hard Money Loan Programs

You're going to be or already are busy looking for investment opportunities and juggling the logistics of renovating your properties. That's why we strive to provide the highest level of customer service in the industry. Our regional loan officers go to great lengths to give personalized service to our customers and assist them in more than just the lending of money. You will have someone in your area to answer questions, guide you along in the process, and make sure your investment experience is rewarding.

By employing our own licensed General Contractors, we are able to streamline the escrow draw process so you can manage your cash flow better!

Testimonials

Information About Hard Money Loans & Loan Programs

Here are some commonly asked questions regarding our loan products and the A & I business.
Feel free to contact us with any further questions you may have.

Q: What is a "Hard Money" Loan?
A: Hard Money is a term that has been used to describe a loan made on the raw equity of a particular property. Instead of lending on the lower of the appraised value or selling price, Hard Money Lenders lend a percentage of the "After Repaired Value" of the property.

Q: What is the ARV?
A: The ARV is an acronym for After Repair Value. This describes the value of a property once the proposed repairs have been completed. Appraisers do a "Subject To" appraisal based on the repair estimate of a property to base the After Repair Value.

Q: What are your minimum qualifications for a loan?
A: We require a middle beacon score of 640 and otherwise good credit. Otherwise good credit means the absence of collections, charge-offs, bankruptcies, and foreclosures.

Q: What is your maximum LTV?
A: We cap our Basic ONE loans at 70% loan to value. However, if you qualify, we can go as high as 75% LTV on the Fast ONE or Easy ONE Loan programs.

Q: How long does it take to close a loan with Lucent Lending?
A: Lucent Lending Neighborhood Improvement Lending is one of the fastest closing lenders in the industry. It takes our staff an average of three working days to process your loan. However, title searches and appraisals are variables over which we have little control and given the recent volume of real estate purchases, it is taking about seven to ten days from application to close on a typical A&I Loan.

Q: Are there certain areas you won't lend money in?
A: Unlike some of our competitors, we do not discriminate against any particular areas. Although our loan officers look at each property and the surrounding neighborhood as a factor, we typically lend anywhere.

Q: How does the repair escrow process work?
A: After closing your loan, your repair money is deposited into an escrow account with LendingOne. You are free to draw from this account on a reimbursement process. In other words, as you complete phases of repairs on the property, you will submit online an Escrow Draw Request and money will only be disbursed if the specified repairs have been completed. Our inspector will contact you to set up an appointment.