Carpinteria, CA Download Recent Transaction – Business Purpose Purchase – Carpinteria, CA Property / Loan Information Property Type Condo Lien Position 1st TD Loan Amount $510,000 BPO Value $850,000 Occup Non-Owner Occ. Interest Rate 8.99% LTV on BPO Value 60% Loan Type Business Purpose Purchase Amortization Interest Only Due in 3 years Guaranteed Interest 180 days …
Castaic, CA Download Recent Transaction – Cash-Out Loan Funded – Castaic,CA Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $305,000 BPO Value $436,000 Occup Non-Owner Occ. Interest Rate 10.50% LTV on BPO Value 70% Loan Type Business Purpose Cash Out Amortization 40 yr amort/due in 12 months Guaranteed Interest 3 months…
What does “Stated Income Loan” mean? Hard Money and Non-Prime Lenders offer “Stated Income” loans to fill a gap on situations where conventional loan standards deny the loan. Today’s blog will demystify “Stated Income” and describe what these loans are and are not. Importantly, we will also discuss the opportunities and pitfalls for borrowers…
El Monte, CA Download Recent Transaction – Business Purpose Purchase – El Monte, CA Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $120,000 Est Value $375,000 Occup Non-Owner Occ. Interest Rate 10.75% LTV on Est Value 32% Loan Type Business Purpose Cash Out Amortization Interest Only due in 3 years Guaranteed Interest…
Riverside, CA Download Recent Transaction – Business Purpose Purchase – Riverside, CA Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $113,750 Purchase Price $175,000 Occup Non-Owner Occ. Interest Rate 10.50% LTV on Purch Price 75.00% Loan Type Business Purpose Purchase Amortization Interest Only due in 3 years Guaranteed Interest 180 Days Loan Scenario:…
The “5 C’s of Credit” are the five key elements a borrower should have to obtain credit. These same 5 “C” items are critical for Hard Money loans as well as conventional loans. Successful Mortgage Brokers understand the 5 C’s of Credit and know how to apply their scenario to a conventional or hard…
Best practices we have seen used to acquire or find a Fix and Flip! Here some of the best practices we have seen used to acquire or find a fix and flip. Common wisdom and empirical evidence shows that the profit in a transaction is acquired on the acquisition. Getting a good or discounted…
The revelers sang “The 12 Days of Christmas” at our Holiday party the other night and our spirited late night rendition reminded me of the steps we need to take every day to get ready for Christmas Day. As my son reminds me every morning of how many days are left until Christmas, I realize…
What is needed to get approved for a hard money loan? As a Real Estate Investor or Mortgage Broker, many times you will need to act quickly to buy or assist someone buy or refinance real estate. When time is of the essence, Hard Money financing is the best and fastest alternative. Below are…
What is needed to get approved for a hard money loan? Real Estate Investors can often find better loan terms by finding a Hard Money Lender through a Google Search or word of mouth. The Internet disintermediates middlemen and, with appropriate search criteria, can allow an investor to find a Direct Lender. These real…
What is the real need of the Borrower and then solve for that requirement I received a loan scenario recently and the request was for a large new 1st Trust Deed that was paying off an existing Bank First Trust Deed while providing cash-out to the borrower. When I discussed the loan with the…
La Canada Flintridge, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $770,000 Purchase Price $1,100,000 Occup Non-Owner Occ. Interest Rate 9.99% LTV on Purch. Price 70.00% Loan Type Fix and Flip Amortization 40 Year amort/due in 12 mos. Guaranteed Interest 3 months Loan Scenario: 708 Mid FICO…
Santa Barbara, CA Download Full Summary Property / Loan Information Property Type Residential Tri-Plex Lien Position 2nd TD Loan Amount $85,000 BPO Value $1,200,000 Occup Non-Owner Occ. Interest Rate 13.25% CLTV on BPO Value 55.33% Loan Type Business Purpose Cash-Out Amortization 40 Year amort/due in 2 years Guaranteed Interest 6 months Loan Scenario: Real Estate Investor…
San Clemente, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $397,800 Appraised Value $612,000 Occup Non-Owner Occ. Interest Rate 11.25% LTV on Appraised Value 65.00% Loan Type Business Purpose Cash-Out Amortization 30 Year amort/due in 12 mos Guaranteed Interest 3 months Loan Scenario: 722 Mid FICO and…
San Bernardino, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $80,250 BPO Value $140,000 Occup Non-Owner Occ. Interest Rate 11.25% LTV on BPO Value 57.32% Loan Type Fix and Rent Amortization 40 Year amort/due in 3 years Guaranteed Interest 6 months Loan Scenario: 649 FICO Real Estate…
Rancho Cucamonga, CA Download Full Summary Property / Loan Information Property Type Condo Lien Position 1st TD Loan Amount $55,000 Est. Valuation $102,000 Occup Non-Owner Occ. Interest Rate 11.75% LTV on Est. Value 53.92% Loan Type Business Purpose Cash-Out Amortization 30 Year amort/due in 12 months Guaranteed Interest 6 months Loan Scenario: Real Estate Investor/Rehabber and…
San Bernardino, CA – Funding Now Download Full Summary – San Bernardino, CA Property / Loan Information Property Type SFR Lien Position 1st Trust Deed Trust Deed Amount $80,250 Purchase Price $107,000 Amortization and Term 40 Year amort/due in 3 years LTV on Purch. Price 75.00% Loan Type Fix and Rent Occupancy Non-Owner Occupied Rate for…
La Canada Flintridge, CA – Funding Now Download Full Summary – La Canada Flintridge, CA Property / Loan Information Property Type SFR Lien Position 1st Trust Deed Trust Deed Amount $840,000 Purchase Price $1.20M Amortization and Term 40 Year amort/due in 12 mos. LTV on Purch. Price 70.00% Loan Type Business Purpose Purchase Occupancy Non-Owner Occupied…
My wife and I spring cleaned our house over the weekend and felt refreshed and invigorated. Out with the old to make room for the new. I cleaned my closets, storage areas, hard drives and double checked my wallet to eliminate any Credit Cards I don’t use. I embraced Monday with a new fervor to…
10 borrower characteristics that should be considered while underwriting a hard money loan Real Estate provides the collateral for most hard money loans however there are many borrower characteristics that should be considered while underwriting a loan. One of the best ways to avoid fraud and determine if a Hard Money Loan makes sense is…
San Bernardino, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $86,250 Purchase Price $115,000 Occup Non-Owner Occ. Interest Rate 11.25% LTV on Purch. Price 75.00% Loan Type Rental Purchase Amortization 40 Year amort/due in 3 years Guaranteed Interest 6 months Loan Scenario: Real Estate Investor looking to…
San Clemente, CA Download Full Summary Property / Loan Information Property Type Commercial Building Lien Position 1st TD Loan Amount $650,000 Appraised Value $950,000 Occup Non-Owner Occ. Interest Rate 11.00% LTV on Appraised Value 68.42% Loan Type Business Purpose Cash-Out Refi Amortization 40 Year amort/due in 3 years Guaranteed Interest 6 months Loan Scenario: Restaurant &…
Castaic, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $280,300 Purchase Price $350,374 Occup Non-Owner Occ. Interest Rate 11.50% LTV on Purch. Price 80.00% Loan Type Fix and Flip Amortization 40 Year amort/due in 12 months Guaranteed Interest 3 months Loan Scenario: 724 FICO Real Estate Broker,…
Moreno Valley, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $217,750 Purch. Price $335,000 Occup Non-Owner Occ. Interest Rate 10.50% LTV on Purch. Price 65.00% Loan Type Rental Purchase Amortization 40 Year amort/due in 5 years Guaranteed Interest 6 months Loan Scenario: Real Estate Investors and owners…
Long Beach, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 2nd TD Loan Amount $50,000 Est. Valuation $350,000 Occup Owner Occ. Note Rate 13.50% CLTV on Est. Valuation 55.26% Loan Type Business Purpose Cash-Out Amortization 40 Year amort/due in 5 years Guaranteed Interest 6 months Loan Scenario: Owner-Occupant looking for cash-out…
5 Bdr, 5 Bath, 3,874 s.f. SFR now for sale for $1,450,000 in the Lantern Village in Dana Point. Highlights: -Ocean View from every room -Remodeled inside and out -3 levels with beautiful decks -Income and development potential See listing information on the below Zillow and Redfin Links: http://www.zillow.com/homes/33862-Barcelona-Pl.,-dana-point-ca_rb/ http://www.redfin.com/CA/Dana-Point/33862-Barcelona-Pl-92629/home/4984352
Having provided close to 200 Private Money Loans to Real Estate Investors and House Flippers gives us a perspective and experience on best practices for House Flippers. We have worked with Flippers who have exceeded their income goals and others that have lost money on the flip. A major part of the flip is to…
Irvine, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $515,000 BPO Valuation $792,000 Occup Owner Occ. Note Rate 11.50% LTV on BPO Valuation 65.05% Loan Type Business Purpose Cash-Out Amortization 30 Year amort/due in 5 years Guaranteed Interest 6 months Loan Scenario: Borrower is an attorney looking…
Scenarios where buyers, sellers, investors and business owners have chosen Hard Money. While Hard Money rates are certainly higher than conventional loan terms, in many instances the money is less expensive compared to other financing alternatives or the potential loss of potential revenue on a business transaction. Additionally, Hard Money eligibility requirements are less…
Moreno Valley, CA Download Full Summary Property / Loan Information Property Type SFR Lien Position 1st TD Loan Amount $129,000 BPO Valuation $215,000 Occup Non-Owner Occ. Interest Rate 11.50% LTV on Est. Valuation 70.00% Loan Type Business Purpose Cash-Out Amortization 30 Year amort/due in 2 years Guaranteed Interest 6 months Loan Scenario: Real Estate Investor looking…