Mortgage Broker Santa Clara CA | 669-223-8669 – Simple Process, Quick Approval, Fast Funding Getting mortgage pre-approval makes getting a mortgage easier and puts you in a better position as a buyer. Being pre-qualified does neither of those The process of getting pre-approved is longer and more involved, but you walk away with a letter from a lender saying you’re highly likely to get a.
Hard money loans, also known as private loans, rehab loans, bridge loans and construction loans, are a form of real estate investment financing available to purchase and repair a property. Hard money loans do not follow conventional standards that are required by banks or mortgage brokers, which allows you to obtain maximum leverage for a distressed property as well as to obtain funding for repairs.
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· The 400k will be liquidated after the property sells. Your options are : Get a 400k open term mortgage on the new property and a 73k bridge loan Get a 400k Heloc on the new property and a 73k bridge loan Both options allow you to sell your current place, use 400k from proceeds to cover the open term or Heloc,
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GSP recently arranged a $6,500,000 bridge loan on a vacant 30-unit apartment community near the Los Angeles CBD. The Property had structural issues and was red tagged by the City. The owner took the 1913 building down to the studs and completely rebuilt the Property.
These loans allow for more adverse credit and financial situations creating rates. funding TIME. Hard money. 15 Days. Bridge. 21 days. Conventional. borrower has no other options, and close in as little as 7-10 days but typically come.
Bridge Loans Are you cash-strapped between projects, or need funds to snap up another deal before it gets away? private money bridge loans can “bridge the gap” and help you purchase another property or even a business by leveraging (non-owner occupied) real estate you already own.
Loan Estimate must be delivered or placed in the mail within 3 business days of application. A business day in respect to the Loan Estimate is defined in 1026.2(a)(6), as any day in which the creditor’s offices are open to the public to carry out substantially all of its business functions.
We can help you acquire a property quickly before you find and secure a longer-term source of capital for the duration of your project. By “bridging the gap” between acquisition and long-term financing, we can give you the flexibility to move quickly on projects as they come across your plate. Typical bridge loan terms vary from 6 – 12 months.