Private Money Loans / Second Private Loans (West Covina)
About This Service
Private money loans are available for amounts up to three million dollars, with interest rates ranging from nine to twelve percent and a one-year balloon payment structure.
Documentation can be completed within twenty-four hours, and funding can be secured within forty-eight hours.
Key Advantages
- No fund control required for repair work.
- No hidden or excessive fees.
- No verification of borrower income necessary.
- No credit check fee.
- No minimum FICO score requirements.
- No penalties for early loan repayment.
- No property appraisal needed.
We provide private loans, including seconds on properties in foreclosure, to help bring your mortgage current, with amounts available up to one million dollars. These loans require no proof of income, no credit check, and no appraisal, and can close in as little as five days.
Our financing is suitable for a variety of property types including REOs, short sales, real estate auctions, trustee sales, distressed properties, and probate purchases.
Do you require capital for investment properties? We have ample funding available and are actively seeking deals. As a direct private money lender, we finance both investment and commercial properties. Broker partnerships are welcomed. Contact us immediately for rapid access to capital.
Understanding Private Money Lenders
A private money lender is an individual, rather than a bank, who provides loans secured by real estate. These lenders are often part of your personal or professional network. They typically base their lending decisions on the value of the real estate deal itself, not on the borrower\'s credit score. This model allows them to finance transactions that traditional banks may decline, offering greater speed and flexibility.
Requirements for a Private Money Loan
- Purchase Price: The intended acquisition cost of the property.
- After Repair Value (ARV): The estimated market value after renovations.
- Rehab Budget: The projected cost for all repairs and improvements.
- Timeline: The expected duration of the project from inception to completion.
- Exit Strategy: The plan for the property, such as flipping, refinancing, or holding as a rental.
- Projected ROI: The anticipated return on investment for the lender, including the timeline for repayment.
The Private Money Lending Process Simplified
- A viable real estate deal is identified.
- The lender provides the necessary funding.
- Agreed-upon terms are set.
- The project is carried out to completion.
- The lender is repaid the principal along with the agreed interest.
For further information, please contact Ivar.
Phone: (626) 786-3547
Email: Ivarloansecure@yahoo.com
Location
Safety Tips
- Don't send money without seeing item.
- Meet in a safe, public place.
- Check item thoroughly before paying.
- Beware of overly low offers.
