Finance of America Commercial

Name: Finance of America Commercial
Address: 6230 Fairview Rd Suite 300, Charlotte, NC, 28210
Telephone: 800-227-8107
Rating: 2.0000

https://www.foacommercial.com/

(800-227-8107)

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As part of the Finance of America family of companies, Finance of America Commercial provides rental term loans, fix & flip loans and lines of credit14, and new construction loans and exposure limit (LOC) to residential real estate investors across the country, helping our clients overcome traditional financing hurdles and build long-term wealth through real estate investment.

At Finance of America Commercial, we get that earning the trust of our borrowers, our colleagues and our co-workers means more than just doing the paperwork – it means becoming a partner. We’re committed to providing the most innovative technology and service, but always with a personal touch.

Our lending products and tools are designed with you at the forefront – to connect us efficiently, and to help us provide the personalized service you want, when and where you need it.

As a Blackstone Group portfolio company and part of the Finance of America family, we offer a flexible alternative to traditional financing and operate in partnership with leading residential real estate professionals to ensure that our loan products and customer service are at the forefront of the single-family rental industry.

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Charlotte, North Carolina

Reviews

8 reviews

Pete

10/17/2023

I have done a number of projects with various private money lenders including Finance of America Commercial. Since I've used them about a dozen or so times here is my experience.They have put me on an island a number of times. One example is when they issued me a Clear to Close on a deal and suddenly the day before closing advised me that they are no longer lending in IL due to covid. I had to frantically search for another Private money lender at the 11th hour and almost lost a deal that ended up being a home run.Other situations that basically left me up shit's creek was when they changed their requirements for draws to be released, and most recently decided they will not release draws that were escrowed because of delays for the project. The delays in this case were due to an eviction on a property (which they knew because no access was given during underwriting and occupancy status was known.There is significant turnover within the firm which causes you to get handed off from one Loan officer to another.This company is NOT a Loan Partner but feels more like a Loan shark. There are plenty of lenders that can get deals done faster, smoother, cheaper, easier, and without the headaches. STAY AWAY.

Josh

04/06/2022

Stay away. This lender will require all sorts of nonsense documentation for the simplest of projects, making you waste time and money. Our closing company contact called them "the worst hard money lender they have ever had to work with" for documents requirements and responsiveness, and they have been in business for over 30 years.

isaura flores

10/07/2019

I worked with Finance of America for about a year, and everything was great. Our sales person wonderful. They asked me to "refresh" our line of credit few weeks ago and it has been a HORRIBLE experience. We have an important closing, and we sent everything requested (the same day) to expedite everything and be on time for closing. I had to call another lender for help, since I still have no answers. WORST than a bank application (Isn't FofA supposed to be a better option for good investors like us?). VERY Dissapointed

Rafael Amzayan

10/07/2019

Hard money loan rates are very competitive lowest rates and origination I have been able to find.

Ryan Rader

10/07/2019

Sellers and agents beware. Another hard money lender that sends pre-approval letters then revokes them while in escrow.