SAN FRANCISCO--(BUSINESS WIRE)--LendingHome, one of the nation’s largest lenders to real estate investors, today announced the company in March surpassed $200 million in funding volume for the first time — eclipsing the previous monthly record.
LendingHome funded loans equaling $219 million, including one for $9.3 million with high-profile Pintar Investment Company to refinance a 56-unit rental home community in Florida. March’s total volume of loans represented a more than 30% increase over the former monthly high set in December 2020.
“LendingHome is proud to be the partner of choice for real estate investors and provide them with exceptional, reliable service to help meet their goals,” said Arvind Mohan, LendingHome’s chief operating officer. “We are excited for the opportunities and growth we see ahead of us as we expand our footprint in the real estate investment space.”
LendingHome continues to grow at a record-setting pace. During the past six years, the company has provided $7 billion in financing for more than 32,000 properties, helping real estate investors create more than $3.4 billion of value in their renovations of aged homes. Additionally, last year, the lender funded twice as many loans as the company’s closest competitor.
COVID-19 impacted many segments of the real estate sector, and during this challenging period many lenders stopped loaning money. In contrast, LendingHome continued to finance projects throughout the pandemic. In the current environment, much of the news about real estate is focused on the lack of residential inventory available for sale, but acquisitions occur every day, and LendingHome provides financing for many of them.
LendingHome has built proprietary machine learning and predictive-analytics capabilities, while acquiring the kind of market knowledge that enables managers to assess value with greater precision. LendingHome combines analytics and know-how to help investors avoid overextending themselves. LendingHome estimates that nationwide, 76% of investment properties are sold for a profit. When LendingHome provides the financing that number jumps to 93%.
LendingHome is now one of the nation’s top lenders for real estate investors with more than $7 billion in loans originated to date. Established in 2013, LendingHome makes it easy for professional and first-time real estate investors to quickly and reliably receive the financing they need for their projects and businesses to thrive. Using a powerful combination of innovative technology and expert advice, LendingHome has added flexibility and simplicity to every step of the borrowing process. For further information, please visit lendinghome.com. NMLS ID #1125207