Have a strong borrower who just misses qualifying for traditional “A-paper” financing? This is where our Alt-A Hard Money program can help with a loan turned down at the last moment!
This new Alt-A Hard Money program is one-of-a-kind and is hot with other real estate agents, mortgage brokers, lenders and their borrowers & home buyers! Offering lower rates between 6%-8%*.
Main qualifications are:
– 65% Max Loan To Value.
– Property in good location and condition.
– Good credit 640 or up.
Hot Alt-A Hard Money Loans Recently Funded:
Location: Mill Valley, Marin County
Why Came To Us: Turned down by conventional lender at last minute.
Scenario: Investor didn’t want to lose out on a good purchase so needed a fast cash offer to close the deal.
Loan Size: $599,000 with 59% LTV
Days To Finish: 8
Location: Santa Rosa, Sonoma County
Why Came To Us: Had IRS lien with difficult-to-prove income.
Scenario: Needed additional funds to complete remodel so she could then resell.
Loan Size: $882,500 with 61% LTV
Days To Finish: 17
Location: San Juan Capistrano, Orange County
Why Came To Us: Self-employed with difficult to prove income.
Scenario: Home Buyer had a sizeable down payment with good income, but unable to get loan approval elsewhere due to being self-employed just in the past year.
Loan Size: $1,350,000 with 48% LTV
Days To Finish: 20
Location: Sonoma, Sonoma County
Why Came To Us: Turned down by underwriting due to an issue with proof of income.
Scenario: Escrow was due to close shortly but buyer now had no loan approval, so home buyer’s Agent reached out to us to rescue her buyer’s transaction.
Loan Size: $800,000 with 57% LTV
Days To Finish: 11
If you have any questions or scenarios for us to review, call 707-523-2099 or reply to this email. We will let you know quickly what we can do for you!
Best, Forest & Ken – The Guys in the White Hats
*APR for this rate based on a $200,000 first mortgage is 6.31%.