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Private money loans are typically made
by private hard money lenders. These are individuals or groups who
lend their own money which is secured by a deed of trust recorded
against real property here in California.
We have spent years building
relationships with these private investors, and are able to facilitate
loans on behalf of our clients through these sources. There is no
bank involved, so the underwriting guidelines are not black and white,
nor nearly as stringent. If our investors are happy with the
collateral and loan to value, we can typically structure a private money
loan for that transaction.
In addition to the absence of bank
underwriting requirements, we have added flexibility and direct
communication that can enable us to structure a transaction that may be
outside the normal box. For many today, private money loans
represent the only means of financing certain projects. For
commercial properties not meeting the debt coverage ratio the banks
require, residential properties needing repairs to the extent that they
do not meet government program standards or even investors who simply
own too many properties for institutional financing, we have programs
that can help.
Funding through private hard money
lenders also enables a loan to close relatively quickly. Sometimes
we can close in a matter of days, but usually our time frame to close
from start to finish is somewhere between two and four weeks.
We can work with seller carry backs,
cross collateralization, construction, rehab
loans and more. We are very creative, and can help you
explore all private money loan options available. Often times if your
transaction falls outside of our guidelines, our large network of
private money investors can make a
loan to fit your needs.
Please
contact us today. We are happy to spend some time discussing
your loan needs, what we may be able to offer and what types of programs
are available. With a little information on the property and an
overview of the transaction, we can typically let you know within a five
minute phone whether we are able to help.
When the banks continue to say no, it
may be time to consider your options using private money loans.
We're here to help!
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