Private-Investor-Loans.com |
Your Source for Private Investor / Hard Money Real Estate Loans &
Mortgages |
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Recently Funded Transactions
"non-owner occupied single family residence
valued at $376,000, currently in foreclosure, loan amount of $278,000, borrower self
employed with zero income on tax returns, funded in 4 days." |
"14 Unit apartment, purchase loan for
$293,000,borrower had no tax returns, no fico score, no bank statements,no
papertrail on funds used to purchase, property only 20% occupied, funded in 6 days." |
Please Note: We only fund loans in California.
Guidelines
Following are some basic guidelines for most of our private investors. Please use
this information only as a reference to the most common guidelines. Should you have a
transaction that does not fit into this guidelines, please e-mail your loan summary as we
may still be able to fund your transaction, since we are continually adding private
investor funding sources. The more difficult the transaction the lower the loan to value
our investors will lend.
| Maximum Loan Amounts |
up to $500,000 |
| Loan to Value - (loan amount divided by property
value) |
up to 75% |
| Loan Terms |
1-30 Years and Interest Only |
| Loan Types |
Purchase or Refinance Fixed Rates |
| Loan Position |
1st. |
| Property Types |
Single Family, Apartments, Commercial, Land |
| Credit Issues |
Perfect credit to recent Bankruptcies,
Foreclosures, Etc. |
| Documents Needed |
Standard 1003 Loan Application, Credit Report,
Color Photos. |
| Time frames from Open to Close |
3-15 days |
Loan Process
The complete loan process from open to close of a private investor
transaction is much faster and efficient than the traditional loan process. Following is a
typical* time-frame and process of this type of loan transaction.
| Time |
Process |
| Day 1 |
Review of initial Loan Summary - if ok then... |
| Day 2 |
Review of standard loan application (1003),
credit report, comparable sales information of property - if ok then... |
| Day 3 |
Private investor to drive-by property or
appraisal (subject to private investor) - if ok then... |
| Day 4 |
Draw loan documents and signing - if ok then... |
| Day 5 |
Fund loan and prepare for recording. |
| Day 6 |
Record loan and close escrow. |
*more difficult transactions may require more
time.
Documentation Required
Following is a list of documentation required in order to complete
transactions, this list may vary case by case.
- Standard Loan Application - URLA 1003
- Credit Report
- Color Photos of subject property
- Title / Prelim Report*
- Escrow / Closing Attorney*
*Items we will order and coordinate.
Should you have any questions, please feel free to contact
us.
Private-Investor-Loans.Com © Jessie J.
Beaudoin
Last revised: April 16, 2003
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