Company Profile
These are some of the principals and qualities you will find at EDC:
- EDC educates our clients on the constantly changing real estate and finance markets
- EDC knows what real estate deals work and we consult our clients how to avoid potential mistakes
- EDC understands the value and the need to close quickly on opportunistic purchases
- EDC understands our clients' needs and we do our best to anticipate those needs
- EDC knows what permanent financing solutions are available and which solutions may work better for our clients' individual circumstances
- EDC has knowledge of changes in each local market
- EDC provides sound advice to each and every one of our clients including property selection, construction consulting, refinance consulting, etc.
What Makes EDC Different from Other Hard Money Lenders?
Availability of Funding & Quick Closings
A huge advantage of using EDC is our quick loan turn around. If you are bidding on a foreclosure property, an estate sale, or any property from a motivated seller, your ability to move fast will often determine your ability to purchase a property at a drastic discount. Banks will normally take thirty to sixty days to close. This will rob you of a competitive edge. EDC can close within 7-10 days from receipt of your loan application. This is powerful when bidding at auction or making an offer on a property!
EDC Experience
The EDC team has expertise in investment property rehab and the dynamic world of mortgage financing and we are eager to share that information with our borrowers. Our advice and insight can make your rehab project run much smoother helping you avoid potential investor pitfalls.
EDC Resources
EDC has many financing resources available to you the investor to assist you with your refinance of your EDC loan to a permanent mortgage or for your first time home buyers. We have relationships with banks and other direct lenders that will be helpful in getting you or your buyers permanent financing in place to pay off your EDC loan.
Less Risk
EDC does not require that you make monthly interest payments during your six month loan term. Traditional banks will require you to bring a down payment to closing and also make interest payments every month. At EDC, we finance the interest payments for you, so that you as the investor to have extra cash on hand and focus your resources on getting your project completed and either sold or refinanced.
Consulting Experience & Real Estate Consulting
EDC has a team that will assist you in analyzing your deal before we even make the loan on the property. EDC will offer cost saving suggestions, construction suggestions, and simply set the project in the right direction from the outset. Your EDC territory director and our corporate staff will always be here to consult you and answer any questions that you might have about anything in regards to real estate investing.
Best Terms
True 100% Financing, No monthly interest payments, No application fees, No draw or inspection fees!
Locations and Coverage Areas
EDC services several markets from the East Coast to the Midwest. You can view a map of our coverage areas and get to know your EDC Territory Director by clicking here.
To apply for a loan with EDC today, please complete our easy, online loan application. You may also contact your EDC Loan Consultant Shawn Skiff to answer any questions you may have about our loan program. He can be reached at 757-460-9096 ext. 113 or by email at shawn@equitydevelopmentcorp.com.
Learn More About the EDC Loan Program
