Ph No: 818-266-8848, 818-422-9253

License No :- 01960494

Borrowers

Hard Money Granada Hills Borrowers

Small business owners who have problems seeking loans from traditional lenders due to poor credit records and income issues can obtain loans from us. We offer Commercial Hard Money Granada Hills Loans and our focus is on the equity and income earned from the Subject Property for financing the loan.

Our Residential Hard Money Granada Hills Loans are based on the type of equity the borrower holds in the subject property. We provide flexible loan programs on this. We even provide Fix n Flip loans to borrowers who are looking for looking for discounts. Fix n Flips loans are used to invest in properties that are purchased, repaired and made ready to resell.

Private equity financing assists both non-owner and owner occupied properties. If borrowers require financing for a good business opportunity can always seek Hard Money Granada Hills loan programs from us. The reasons for applying for hard money loans depend upon the income, property condition, requirement of fast cash and credit history.

It is, however, necessary to know that to secure hard money loans borrowers should own real estates against which the loan can be taken. Needless to worry, hard money loans are available against any type of property. Usually, hard money loans are arranged on only income properties.

INVESTMENT FINANCING

Foreclosure Purchase

The terms of purchase at a foreclosure Trustee Sale is cash only, which often requires more cash into a particular deal than most purchasers want in any particular transaction. We can immediately structure a real estate loan to pull cash back out of the newly purchased property providing additional cash to purchase more investment opportunities. If the value of the property is more than the purchase price you are paying we might be able to get you up to 100% purchase financing regardless of whether you have less than prefect credit or income problems.

Buy and Hold Strategy

Borrowers can use our Investment Loans to make necessary repairs and to make additional improvements to a newly purchased property. Our Investment Loans can then roll over into permanent financing for the balance of the term of the loan.

Refinancing of existing property

When cash is needed or an existing loan has come due for payoff, our Investment Loans can be used by Borrowers to pay necessary financial obligations without the unfortunate decision to sell the property to pay off obligations.

LENDING PARAMETERS

Loan Amount $ 30,000 to $ 1,500,000
Rate 8 % to 12 %
Loan-To-Value Up to 75%
Loan-To-Cost Up to 80 % including renovation costs
Term 1 to 10 Years
Origination Fees 1 to 2.5 pts, depending on loan duration
Closing Time 7 to 21 days
Credit & Income NO Min FICO Scores
Loan Types 1st or 2nd Trust Deed
Type of Loans Acquisitions, Renovations, Cash Out Refinance, Business & Investment Purpose
Type of Properties Residential, Commercial and light Industrial
Lending Area California

LOAN APPLICATION PROCESS

Simple 5 Step Process from Approval to Funding

  • Tell us about the property you want to borrow on. We will need information such as the type of property, estimated value and if any loans are currently owed on the property.
  • Complete our Short Mortgage Application
  • Receive our loan response and/or mortgage approval.
  • If the mortgage approval meets your needs we can meet you at your home or at our office to sign all the loan documents.
  • Once all required file conditions, such as the appraisal and title report are received by our company we can then set your loan up to close and disburse the loan proceeds to you.

With our assistance these steps can usually be completed in as little as one week if required by our Borrower.

Short and Simple Loan Submission

INITIAL DOCS CHECKLIST

  • Loan Application (1003 Application)
  • 3 Months Complete Bank Statements
  • Photocopy of Valid ID
  • LLC/Corp/Trust Docs (if applicable)
  • If Purchase – Purchase Contract
  • If Refinance – Mortgage Statement
  • If Leased – Lease Agreement
  • Declaration of Non-Owner Occupancy
  • Letter of Experience & Explanation
  • Escrow Contact Info
  • Insurance Declaration Page
  • Special Required Docs
  • 1003 Application
  • Borrowers Certification and Authorization
  • Equal Credit Opportunity Act Disclosure
  • Fair Lending Notice

Income Guidelines

Income is one of the components that we are required by law to take into account when making a loan to a Borrower.

We do consider our Borrower’s’ income when we are in the process of making a loan to a Borrower.

Income can be broken down into two major categories:

Employment Income

From a lending perspective it’s the easiest type of income for our company to consider when providing a loan since it is so easy to calculate.

We will only require:

  • A recent Paycheck Stub
  • Two years W2’s

We then use the information on the paycheck stub and the W2’s to calculate a monthly income for our Borrowers. If some of the monthly income is from commission, bonus or simply overtime payment, we don’t have to have a full two years of income payment history to our Borrower from their employer in order to consider the income for qualifying purposes.

Self-Employment income

This can be a little more difficult to calculate, since there are so many variables and ways that self-employed Borrowers earn money. We might ask for 2 years tax returns and a Profit and Loss (P & L) statement.

We are not constrained by regulations and government oversight that restricts the Big Banks and large institutional lenders from making a loan to self-employed Borrowers. Under certain circumstances, we are able to allow our Borrowers to simply “State their Income” and approve their loan as a “Stated Income” loan. The Big Banks and large institutional lenders can’t do it, but we can. We are aware that often there are times that our Borrower’s income documentation doesn’t reflect the total amount of income generated and received by our Borrowers.

Credit Guidelines

Credit is one of the factors that we consider when we receive a Loan Application from one of our Borrowers. Past credit problems and even current credit marks will not deter us from lending. We lend to Borrowers who have poor credit and even credit that can only be described as bad credit. If you have ever had the need to have filed a Bankruptcy, or even have had the unfortunate circumstance of experiencing a foreclosure, we are your best choice for real estate financing.

We fill the void for Borrowers who find themselves needing real estate financing but can’t find a company to help them. We provide financing to Borrowers that the Big Banks or large institutional lenders turn down on a daily basis. We live by a different set of rules than the banks and are not constrained by cumbersome layers of management.

We base our loans primarily on the equity in the property we will be lending on, so credit is not that important to us, but is can help our Borrowers in getting a better interest rate. Better credit always equals better rates. So when we are extending credit we always aim to provide our Borrowers with the best interest rates and terms based on the unique credit circumstance of our Borrowers.

The more equity that you have in your property the better it is for us to make you a loan. We perform a calculation of the value of your property and we will lend up 65% LTV (Loan to Value) of the current market value. Credit problems will not prevent us from lending money if there is sufficient equity in the property.

Since everyone’s credit history is unique we always tailor our loans to each Borrower’s specific situation. If there is sufficient equity in the property being borrowed on, then there is almost are no circumstances where our Borrower’s credit will prevent us from making a real estate loan.

The one exception is if our Borrower is currently in Bankruptcy. Under the law we are prevented from lending money to Borrowers who are in bankruptcy. When this situation happens, we only require that the bankruptcy be dismissed from the court and then we can make the loan.

We are required by law to access a credit report for every mortgage loan we provide. While credit is not a major consideration in our lending decisions, overall outstanding debt needs to be known.

We need to at times confirm our Borrowers outstanding debt for calculations of income worthiness but rest assured that credit is not a major consideration in our mortgage lending decisions.

If you are not sure of what your FICO credit score is just call our office and we will be happy to run your credit for no charge, let you know your FICO score and review your credit history with you over the phone or in person at our office and provide you with an interest rate quote based on your credit.

Property Guidelines

Since we are a Private Equity Lender and not constrained by needless government regulation that so often restrict the Big Banks or other large Institutional Lenders, we are able to lend on just about any type of real estate.

Our lending standards are so much more flexible than the Big Banks and other large Institutional Lenders.

The only restrictions are that we only lend on real estate, and the property we are lending on must be located in California.

There are several components of the property that we do take into consideration when providing real estate financing. They can be broken down into two general categories:

Legal Ownership

When making a loan to a Borrower we need to confirm that the Borrower does own the property we are being asked to lend money against. Furthermore we need to confirm if there are any other loans or liens recorded against the property. We accomplish this task by employing the services of a Title Company, who performs the title and lien investigation on the property. If there is ever any problems that comes up that could prevent us from lending we jump into action and work with our Borrowers, associated lien holders and any other party that need to be contacted in our quest to “Straighten Things Out” and get the title to the property “Cleared Up” so we can move forward and make our Borrower a real estate loan.

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