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Brokers
We quote through licensed brokers only. We cater to the "Small Real Estate Investor" by offering the following services:
Our Strengths:
FOR "24 HOUR QUOTE FORM" CLICK HERE!
☛ 7 Day Closings
☛ We Control the Funds
☛ Numerous Loan Programs Including I.O. Programs
☛ Up To 80% LTV
☛ We Loan On Land!
☛ No prepayment penalties
☛ No minimum credit score
☛ Bankruptcy or Foreclosure O.K.
☛ Minimal borrower documentation
Our Rates & Terms:
✴ Loan amounts from $30,000 to $3,000,000;
✴ Single family, condominiums, apartments, retail, office, industrial, and raw land
✴ Up To 80% LTV (50% LTV for land)- lower of appraisal vs. costs
✴ Current Loan rates (subject to change):
✴ Interest Rates: From 9.95%
✴ Term: 1-5 years
✴ Points: From 3.00%
For Faster Quotes & Closings:
✴ Fill out and return the "24 Hour Quote" form
✴ Submit the following information (if available):
✓ Completed and signed 1003 (loan application)
✓ Recent appraisal (see appraisal requirements)
✓ Preliminary Title Report
✓ Sales contract if it is a purchase loan
✓ Borrower credit report
✓ An income verification of the borrower
✓ Photos of the property (front, back, and interior)
✓ Termite Report
Appraisal Requirements:
♦♦♦ For Improved Property ♦♦♦
✍ Appraiser must be located within 50 miles of the property and have appraised property in the subject county;
✍ "Certified Residential" OREA California license or higher
✍ "Summary Appraisal Format" according to USPAT
✍ Minimum 6 sales comparables with photos
✍ Verify current zoning & general plan
✍ Photos: Interior, Front Street, Rear Yard
✍ Verify slope does not exceed 20%
✍ Verify water service (well or domestic sewer)
✍ Resume & Qualifications
✍ List of existing clients/approved lenders
♦♦♦ For Land ♦♦♦
✍ Include all of the items above for Improved Property
✍ Highest & Best Use Analysis
♦♦♦ Commercial ♦♦♦
✍ Include all of the items above for Improved Property
✍ If commercial, include photos and description of adjacent properties
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