|Lender Name||Property Types||Loan Types||Amount||Max. LTV||Rates|
|Matt M.||Residential and Commercial||Purchase, Refi, Cash Out, Rehab, Construction, 1st or 2nd||$200K - $10M||75%||9 - 12%|
|Antonio G.||Residential, Commercial, Land||Purchase, Refinance, Equity Cash Out, Rehab, Construction||$50K - $2M||70%||9.99 - 12%|
|Sasha M.||Residential and Commercial||Purchase, Refi, Cash Out, Rehab, Construction, 1st only||$250K - $10M||70%||8 - 12%|
|Elliot S.||Commercial and Residential||Refi, Cash Out, Purchase, 1st or
2nd Trust Deed, Construction
|$1M - $10M||75%||7.99 - 15%|
|Carl M.||Residential and Commercial||Purchase, Refi, Cash Out, Owner & Non-Owner, 1st & 2nd TD||$50K - $2M||70%||7.99 - 12%|
|Larry P.||Commercial, Residential, Land||Purchase, Refinance, Bridge Loan, Rehab, Construction||$400K - $10M||70%||7.99 - 10.99%|
|Sohail Z.||Commercial and Residential||Acquisition, Equity Cash Out, Refi, Construction, Rehab, Notes||$1M - $10M||65%||7.0 - 9.25%|
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2nd mortgage to cash out equity on a primary residence worth $670K with a $535K 1st mortgage balance. The subject property is a 4-bedroom 3-bath home near Lake Mission Viejo. The property is owner-occupied. The borrower needed the funds for working capital in his automotive business. The lender was able to fund this loan 4 weeks after the initial inquiry. The interest rate is 25% for this 12-month bridge loan. The combined LTV is 83%. This private mortgage was funded in February 2014.
$3.57M private money bridge loan for the acquisition of multiple investment properties in Newport Beach, Orange County. The collateral includes a 16-room boutique hotel with ground floor restaurant, a four-plex, and beach-side cottage. The Borrower purchased the pool of properties for $7,140,000. The Lender provided a private money 1st trust deed of $3,57M priced at 8.30% interest only. The Lender sourced a 2nd trust deed with an established junior lender, and a private equity investor completed the capital stack with a 3rd trust deed. This private mortgage was funded in April 2014.
$5.1M first trust deed cross-collateralizing a high-end home in Irvine and a 40-unit apartment building in Anaheim. The borrower is a foreign national with investments worldwide. He cashed out 60% equity on both of these properties to finance a business investment in Mexico. This transaction was brought to the lender by a broker working directly with the borrower. The broker collected a $102,000 commission at the close of escrow. The rate is 7.90% interest-only with no prepayment penalty on a 12-month term. This private mortgage was funded in January 2014.
This oceanview house was free and clear, vacant and on the market for sale. The lender's transitional loan provided business capital urgently required by the owner, a non-resident foreign national. Given the strength of the borrower and the 55% LTV, the lender was able to fund this bridge loan fast, at a competitive rate. The borrower has another home in Malibu on which the lender funded a private money loan.
The borrower purchased the home several months ago at $480,000 as a short sale with all cash, and secured the property way under market. Carl's private mortgage amounted to 65% of the purchase price (65% is typically the maximum loan-to-cost on private money loans). He charged 2 points and the rate is 10% with interest-only payments. The borrower plans to keep the home as a rental for now. This private money loan was funded in September 2013.
Buena Park is a city in northwestern Orange County, about 12 miles northwest of downtown Santa Ana.
The Borrower had to close on this cash out refinance in 1 week. Their bank had been processing a refi for over 60 days and the Borrowers were simply out of time; they needed deal certainty and an immediate closing to take advantage of a significant opportunity with a now looming deadline. The building had an appraised value of $2,950,000, the borrower had an 800 FICO Borrower and requested a 60% LTV loan on a fully leased industrial building.
Larry's team performed and completed the process: inspected the asset, vetted the sponsors, interviewed the tenant, reviewed the lease, verified submarket conditions and present value, confirmed the environmental findings, worked closely with title, and closed it to meet their deadline. No underwriting corners were cut and no due diligence stones were left unturned.
The borrower needed the funds to improve the home and also to invest in another property acquisition. The estimated value of the home is $1,200,000 and the existing 1st balance is around $270,000 which set the combined LTV at only 35%. This is a no-brainer for most private lenders, although a lot of lenders don't even consider 2nd position. Carl has funded a number of 2nd private loans. The home is tenant-occupied and has a good cash flow. The interest rate on the 2nd is 10% with a 36-month term, interest-only payments. This private money loan was funded in August 2013.
Newport Beach is an affluent city in Orange County, California, 10 miles (16 km) south of downtown Santa Ana.