Lack of inventory has real estate a bit muddled at the moment. However, with bridge loans and short term loans, real estate activity can be increased and benefit those Home Owners who do want to sell.
● This type of financing removes the stress of having to get into contract on a new home before one sells their current house.
● Purchase offers can be extra strong as the financing required to buy a new home is available, no longer requiring a contingency of one’s current house to be sold.
In 2016 our company funded 235 Hard Money loans. It was a good mix of owner occupied loans, rental property loans, Bridge loans, Temporary Loans, small Commercial Loans and Land Loans. We took an average of 20 days to fund a loan, with our fastest funding in 3 days! January 2017 marked the 29th Anniversary of our family company doing home loans.
We continue to stand ready to help you, a client or someone you know bridge the gap between a current home and a new future home with our alternative finance programs. Call us today at 707-523-2099!
Best, Broker & Broker – The Guys in the White Hats
Recently Funded Bridge and Temporary Loans – Done to fill the gap:
Petaluma, California (Sonoma County)
Days To Fund: 7 days
Loan To Value: 75%
Why Turned Down Elsewhere: Needed a fast loan for a purchase.
San Francisco, California (San Francisco County)
Days To Fund: 11 days
Loan To Value: 72%
Why Turned Down Elsewhere: Needed a fast, short term loan.
Bolinas, California (Marin County)
Days To Fund: 17 days
Loan To Value: 64%
Why Turned Down Elsewhere: Had a bankruptcy
Pioneer, California (Amador County)
Loan Amount:$1.5 mil
Days To Fund: 20 days
Loan To Value: 50%
Why Turned Down Elsewhere: FICO score not good enough.
Cloverdale, California (Sonoma County)
Days To Fund: 14 days
Loan To Value: 63%
Why Turned Down Elsewhere: Property condition was poor.