Property Refinance in Santa Clara, California
I work with many loan Brokers and Realtors. One of my Broker buddies called with a transaction he needed to get done for a borrower on a rental property refinance. The clients needed a $770,000 first mortgage at 10% interest only for 2 years – and it was needed quick as they had to close escrow on a new purchase of a multifamily property.
This Broker is a true professional. He already spoke with the clients and had all of the documentation he knew was required for loan approval, which he then sent me.
The phone call to me on January 3rd and by January 22 all transactions were completed – the refinance and the new multifamily purchase. Touchdown!
Hard Money loans are like magic. They have speed and flexibility. In this type of market, with multiple offers, borrowers can benefit from hard money as it fulfills a tremendous purpose in real estate buying these days.