Have you been turned down due to poor credit? Turned down due to difficulty verifying income? Property a fixer? Do you have 30% down payment but can't get qualify for conventional financing? Hard Money or Private Money Loan is A WORKABLE solution for those with poor credit or other disqualifying circumstances for regular loans. Hard Money Loan
We can do Buyers fresh out of bankruptcy, short sale and/or foreclosure. Mortgage broker San Francisco California
A hard money loan or private money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution. Hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring. Hard money loan
Usually the credit score of the borrower is not important, as the loan is secured by the value of the collateral property. Typically, the biggest loan one can expect would be between 65% and 70% of the property value. That is, if the property is worth $100,000, the lender would advance $65,000--70,000 against it. This low LTV (loan to value) provides added security for the lender, in case the borrower does not pay and they have to foreclose on the property. Mortgage broker San Francisco California
Commercial Loan, Super Jumbo Loan, Mortgage Broker San Francisco, Mortgage Broker California
