We are a Difficult Hard Money Loan funding specialist
Loan Guidelines
- Minimum Down Payment of 10%
- Fixed-Rate Mortgage with 15, 20, or 30 Year Term
- Closing cost higher as compared to conventional loans
- Available to non-citizens!
- For owner occupied (primary residence)
- Property types eligible are single family homes, condos, and PUDs.
- This loan meant for undocumented home buyers
- FHA does not offer any ITIN programs
Purchase, Refinance, Cash Out
*LTV, Rate, Terms, Fees are depended on the property type, loan amount, location, occupancy, credit score etc.
Property Type
- Commercial Properties
- Strip Malls
- Hotels
- Condotels
- Gas Stations
- Office Buildings
- Shopping Center
- Apartments
- Residential properties 1-4 unit
- Child Daycare Centers
- Vacant Land or Raw Land
- Warehouse
- Mixed Use
- Daycare
- Industrial
- Hospitality
We are a difficult Hard Money Loans funding specialist
All Loan Programs:
- Commercial Loans
- Private Hard Money Loans
- Stated income loans
- 1 Month Bank Statement Loans
- Profit & Loss Loan Program
- ITIN Loans
- Stand-alone second Loans
- 1099 Income Program
- CalFHA Loans
- Full Doc Loan
- VOE only Loan
- FHA Loans
- Conventional Loans
- High Balance Loans
Income Documentation
Income documentation is mandatory for consumer lending on residential property of 1-4 units. We must be able to take all the income documents of the borrower and from those documents, we will ensure that their debt-of-income ratio is in line. While income must be documented, we have some flexibility in how the documents need to be listed. Documents like tax returns, W-2’s, pay stub, etc, are all acceptable. We can also happy with the bank statements or any other third party documentation which shows the borrower’s income.
We are a difficult Hard Money Loans funding specialist
- Hard money home loans in California are issued by private investors or companies. They are usually for 2 to 5 years, this type of loan is a specific type of asset-based loan financing. You should learn a few things about hard money loans or you can contact any hard money lenders in California before you opt them so you can avoid pitfalls and sticky situations. Hard real estate loans are short-term loans secured by real estate and the interest rates are much higher as compare to traditional financing:
- Options to Bank Home Financing– I have many questions regarding hard money home loans for residential properties. Funding loan from a bank is not possible with many people, so hard money home loans have become an alternative to funding a home loan. Hard money home loans also become an option even for those who have may have been able to obtain bank financing in the past. There are many differences between hard money home loans for consumer purpose and for investment purpose.
- Bank Lending Practices Have Changed– We all know that from last five years there has been an inundation of mortgage regulations. Regulations are still being written and phased in, so we are not done with those regulations. To curb irresponsible lending and subprime lending practices by institutions, these regulations were meant. These regulations do also apply to hard money loans. Many people who want to fund their loan with hard money home loans are usually unaware of the changes of regulations. They think hard money home loans lending don’t have same regulations as bank money. Many people have this issue with the banks that they believe hard money can avoid is the documentation of income.
- Hard Money Loans Fees Passed to Borrower– The cap on fees and rates is another issue that we have with these types of consumer loans. In hard money home loans, all the fees are passed through to the borrower but not in the bank money. In addition, the financing source is ordinarily an end investor trying to find a return on his/her money more prominent than they can get somewhere else. Making these types of consumer loans for small balance loans is difficult due to these aspects of hard money. We are a difficult Hard Money Loans funding specialist.
We are a difficult Hard Money Loans funding specialist who provide private hard money loan, DACA Mortgage, all type of commercial loans, CalFHA Loan, equity based loans, asset based loans, hard money loans, stated income loans, fix and flip home loans from private hard money home lenders, DACA Mortgage lenders, equity based lenders, asset based lenders, stated income lenders. We are a difficult Hard Money Loans funding specialist.
Other Home Loans We Specialize In:
- Commercial Loans is available starting at a minimum loan size of $150,000 to $5M. We do commercial loans and their rates start from 6.25% and with 5, 7, 30 Years options. Commercial Loans include the properties like Strip Mall, Condotel, Multi-Tenant Retail / Office, Hospitality, Storage Facility Stores, Light Industrial, School, or Daycare. Single-Tenant Retail.
- ITIN loans are for those people who want to finance a home purchase but do not have the SSN number. Basic requirements to qualify for an ITIN loan are 2 years of employment, last 2 years of your tax returns (W-2 or 1099), down payment of at least 10-20% depending on the lender, proof of some form of credit, identification in the form of a copy of your ITIN card, and a state ID, drivers license, or passport, Your most recent bank statements. Property types eligible for ITIN loans are single family homes, condos, and PUDS. ITIN loans can only be used for a home that is owner occupied (primary residence). FHA does not offer any ITIN programs.
- California Housing Finance Agency (CalHFA) is a loan for people who have low income in california and it is possible for them to afford a mortgage. The CalHFA loan has some requirements like the borrower have to occupy the property as a primary residence and borrower must complete homebuyer education counseling and get a certificate of course to take a CalHFA Loan. The sales price of the home should be in the limit of CalHFA sales price limit. The basic documents needed for CalHFA loan are pay stubs, bank statements, employment history, previous tax returns.
- Stated income loans differ from full documentation loans, which require the borrower to verify his income by providing bank statements or similar asset documentations. Borrowers have to prove their income with their alternate documents. You can’t just state your income, you have to show them something which is common like your bank statement instead of paystubs, W-2s and tax returns. From your bank statement, you can prove the income deposits by your company regularly. So, the lender will check your bank statement to confirm your income.
- Condotel Loans-Condotel units are different from normal condos. Real estate developers initially build them in resort and hotel companies such as Starwood, Marriott, Hilton, etc. Owning Condotel property enables one to earn a good passive income while also giving them access to basic hotel amenities such as 24-hour room service, baby-sitting services, spas, fitness centers, fine dining restaurants, valet parking and many more.
- Stand-alone second loans are additional loans that a borrower takes out against his house despite already having a first mortgage. The borrower takes out the loan by itself even though his first pre-existing loan has not been closed yet. He usually takes this loan out to access cash. In essence, he can use the money from the loan to consolidate a debt, pay for a child’s education, or even build an additional home, among other things. A borrower can take out the loan based on the available equity of his home.
- FHA home loans make it easier for a borrower to qualify for a loan and make a small down payment. This loan is beneficial for a borrower, especially a first time home buyer, to qualify for a mortgage. Borrower is required to purchase a mortgage insurance premium in case the borrower defaults. The mortgage insurance premium serves as a financial backup to protect the lender. Provide full documents
- Conforming loans, the largest segment of loans in the country. Full documents required. Conforming loans, considered lower risk loans, make up the largest segment of loans in the country. In the U.S., lenders package mortgage loans into investment bundles to sell and lend to both Fannie Mae and Freddie Mac. These two companies, which drive the housing market, provide a secondary market for mortgages.
- Conventional loans are safe loans that differ from other government regulated loans. Conventional loans, synonymous to conforming loans, adhere to the same process as conforming loans. For instance, they must follow guidelines and significant loan limits set by Fannie Mae and Freddie Mac. Yet, they differ from other government regulated loans in that they are not regulated by government agencies such as the FHA, USDA, or VA. Nonetheless, this does not stop them from being less desirable or attractive. After all, they make up 65% of the American housing market. The nature of conventional loans (also known as to safe loans) offer borrowers low rates and flexible guidelines.
- High balance loans are loans that exceed conforming loan limits for borrowers living in expensive regions of the country. High-balance loans exceed the national conforming loan limits for borrowers living in expensive regions of the country. In the U.S., lenders package mortgage loans into investment bundles to sell and lend to both Fannie Mae and Freddie Mac. These two companies, which drive the housing market, provide a secondary market for mortgages. Consequently, Fannie and Freddie have enforced a maximum loan size for all backed loans. Because the US housing market expanded in the last few decades, the loan size limits increased. In effect, Fannie and Freddie created high balance loans, which were vital to markets in Orange County and New York City.
- Jumbo home loans make it possible for the borrower to buy an expensive home because they allow the borrower to get large loan balances. Compared to high-balance loans, jumbo mortgage loan amounts are higher. They have more demanding requirements than the smaller, conforming mortgages because they are larger than the usual “conforming” loan limits.
