What Is Our Alternative Financing Really?
After 32 years, despite market changes and recent covid regulations, our two main lending qualifications have not changed and are still more forgiving than conventional or bank financing. These two basic qualifications are:
#1. Decent existing real estate equity or at least a 30% down payment if a purchase and
#2. An ability to repay the loan.
We have worked with many other Brokers and Realtors, helping to close more transactions and help make their clients happy! We can cover up to 65-75% of the value of the property. These loans are based largely on equity from real estate assets.
Basically considered all cash, such loans are extra strong and can be used to purchase or refinance fixer properties, bad score borrowers, irregular or difficult to prove income borrowers, large cash-out borrower, someone needing fast cash, short term Bridge loans, etc.
Owners still need to refinance their homes to make home improvements, buy a 2nd home or investment property. And Buyers still want to buy even with tarnished profiles. Our unique financing is the only option out there if your client is unable to qualify for a loan from you, their favorite bank, mortgage broker or local Lender.
Many people have cards with rates that are 15% to 32% and Alternative Financing rates average 9% to 12% with interest-only payments. This will likely cost a bit more than a 30-year fixed rate loan but it can get them what they want, despite having been turned down elsewhere for a refinance or home loan.
Also, if your Buyer or Borrower just misses out on qualifying for conventional financing, they could qualify for our Alt-A Special Program which offers rates as low as 6.5%!
We invite you to look through our programs for exact details on how we can get you and/or your client fast loan approval! Or call us at 707-523-2099. Having worked with many types of loan scenarios for over 3 decades, we are quite experienced, honest and FAST.