Borrowers
There are many reasons why borrowers choose a private money loan versus seeking a conventional loan from a bank.
Reasons may range from the Borrower who has a low FICO score, to the Self-Employed individual who does not show income on his tax returns, to the buyer who can not provide seasoned funds, PrivateFunding.pro has the guideline flexibilty to get your real estate loan funded fast!
Private Money Highlights
> Loan Amount to $20MM
> 1st, 2nd, 3rd Mortgages
> Maturity from 1 to 3 Years
> Interest Only Payments
> Purchase | Cash Out Refinance | Rate & Term Refinance
> Business Purpose Loans | Cross-Collateral Loans | Bridge Loans | Fix & Flips
> Single Family Residence | Multifamily | Commercial | Industrial | Special Use
> Up to 65% LTV/CLTV or less on the all collateralized properties
> Turn-time can be as fast as 5-10 days
Reasons Why Borrowers
Choose Private Money
> Has the preference to close their
deal in 5-10 days
> Only needs a short term loan
from 1 - 5 years
> Going through a divorce and one spouse needs to buy out the other
> Credit impaired from a bankruptcy, foreclosure, shortsale or a deed in lieu
> Borrower is a foriegn national
> Debt-to-income ratio is too high for conventional financing
> Property type that a conventional lender
will not lend against
> Property condition uninhabitable or does not qualify for bank standards
> Multifamily that does not debt service
for the loan amount needed
And More...