Santa Barbara: Get $50K - $750K Private Hard Money 1st, 2nd Position Mortgage Loans, Santa Barbara
Posted: Sunday, October 29, 2017 1:34 PM
Get Loan against Real Estate for Purchase, Refinance, Cash out, Rehab
or Debt Consolidation in Santa Barbara
1st, 2nd or 3rd Position Mortgage
No Min Credit Score Required
Stated Income, No Tax Returns or W2
Up to 75% LTV (Loan to Value)*
Term from 6 Months to 30 Years*
Interest Rate Starting from 6.75%
Easy to Apply, Quick Approval & Get Fast Funding in 7 - 10 Days
Call / Text or Email - Steve - (951) 254-3712 or Visit www.vfindloans.com
Get Private Hard Money Loans Against all
Owner Occupied, Non-Owner Occupied Properties,
Residential or Commercial Real Estate
or Vacant Land in Santa Barbara CA
---- Property Types ----
SFR, Multi-family, Rental Property
Mixed use property, Apartments,
Office Buildings, Retail Strip,
Gas Stations, Auto Repair Shop
Senior Care Facility, Funeral Homes
Mini Storage, Manufactured Homes
Warehouse & Commercial Properties,
Vacant Land, Raw Land, Commercial Land
---- Loan Purpose ----
Purchase, Refinance, Cash out,
Business Debt Consolidation
Rehab, Home Improvements
Fix & Flip Loan for Investors,
Business Loan Purpose
or get loan for any Purpose.
Whether you have bad credit or No credit
we have loan program for every borrower.
We have stated income, stated assets, No doc Loan program.
Contact Us NOW for Free Consultation
Call / Text or Email - Steve - (951) 254-3712 or Visit www.vfindloans.com
We care more about Equity in the property, borrowers Ability to make payments & theirs Exit plan to repay the loan. We won't waste your time. If we can't help you, we'll refer you to a private lender who may.
A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued by private investors or companies. Interest rates are typically higher than conventional commercial or residential property loans because of the higher risk taken by the lender. Most hard money loans are used for projects lasting from a few months to a few years. Most Hard money loans are stated income, stated assets in some case no doc loans.
Private money is a commonly used term in banking and finance. It refers to lending money to a company or individual by a private individual or organization. While banks are traditional sources of financing for real estate, and other purposes, private money is offered by individuals or organizations and may have non traditional qualifying guidelines. There are higher risks associated with private lending for both the lender and borrowers.
A commercial loan is a mortgage loan secured by commercial property, such as an office building, mixed use property, commercial buildings, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, rehab or redevelop commercial property.
Commercial loans are structured to meet the needs of the borrower and the commercial lenders. Key terms include the loan amount, interest rate, term, amortization schedule, and prepayment flexibility. Commercial loans are generally subject to extensive underwriting and due diligence prior to closing. The Commercial lender's underwriting process may include a financial review of the property and the property owner, as well as commissioning and review of various third-party reports, such as an appraisal.
Santa Barbara Hard money lenders are lending companies, or individuals, offering a specialized type of collateral backed loan. Private Hard Money Lenders tend to lend short-term capital (also called bridge loans) that provide funding and or cash, based on the value of the collateral. Santa Barbara Hard money lenders and Investors can and will utilize all types of collateral- cars, boats, land, airplanes, hard assets, paintings, etc. to complete the loan. Hard money lenders tend to focus on the value of the collateral and sometimes borrower's ability to repay, FICO score, debt to income balance; instead of based on their own personal income or other assets, as is common with traditional lenders. Hard money lenders typically charge much higher interest rates than banks because they fund deals that do not conform to bank standards such as verification of borrower's income, assets, or credit score.
Santa Barbara Private Hard money lenders & Investors will offer a range of requirements on how much they will lend (loan to value), what types of real estate they will lend on (commercial, residential, multi-family, land) and minimum and maximum loan sizes. Hard money lenders that lend on residential property are licensed through their state regulatory agency.
We provide Hard Money 2nd second and 3rd mortgage loans. A 2nd Mortgage is a second lien on a property. Called lien holders positioning, the 2nd mortgage falls behind the 1st mortgage. When refinancing if the borrower wants to refinance the 1st mortgage and keep the 2nd mortgage, the homeowner has to request a subordination from the 2nd lender to let the new 1st lender step into the first lien holder position.
A 2nd mortgage can be structured as a fixed amount to be paid off in a specific time, called home equity term. They can also be structured like a credit card giving the borrower the option to make a payment less than the interest charged each month.
2nd mortgages are riskier for lenders and thus generally come with a higher interest rate than first mortgages. This is due if the loan goes into default, the first mortgage gets paid off first before the second mortgage. Commercial loans can have multiple loans as long as the equity supports it. Due to lender guidelines, it is rare for conventional loans for a property having a 3rd or 4th mortgage.
Santa Barbara Hard money lenders provide Stated Income Loans. Stated income loans allow borrowers to simply state their monthly income on a mortgage application instead of verifying the actual amount by furnishing pay stubs or tax returns. Stated income loan are mostly used by self employed borrowers. In some cases lender would ask for bank statements to support the stated income.
A SIVA loan, or stated income/verified asset loan, allows you to state your monthly gross income on the loan application and requires you to verify your assets by furnishing bank statements or a similar asset document.
A SISA loan, or state income/stated asset loan, allows you to state both your monthly gross income and your assets. So in this case, both items are simply stated, and the bank or lender will not ask you to verify the information.
We have access to hundreds of Private Hard Money Lenders for Vacant Land, Hard Money Lenders for Rehab, Fix & Flip, Construction Loan, Manufactured Home Loans in Santa Barbara.
Santa Barbara is the county seat of Santa Barbara County, California. Situated on a south-facing section of coastline, the longest such section on the West Coast of the United States, the city lies between the steeply rising Santa Ynez Mountains and the Pacific Ocean. Santa Barbara's climate is often described as Mediterranean, and the city has been promoted as the "American Riviera". As of 2014, the city had an estimated population of 91,196, up from 88,410 in 2010, making it the second most populous city in the county after Santa Maria while the contiguous urban area, which includes the cities of Goleta and Carpinteria, along with the unincorporated regions of Isla Vista, Montecito, Mission Canyon, Hope Ranch, Summerland, and others, has an approximate population of 220,000. The population of the entire county in 2010 was 423,895.
We also provide private hard money loans & financing in the city of Buellton, Carpinteria, Goleta, Guadalupe, Lompoc, Santa Barbara, Santa Maria, Solvang.
We are Private Hard Money Mortgage Broker servicing clients in Santa Barbara. We are Mortgage Broker representing a wide range of Equity based private hard money lenders and investors that use a “common sense” approach to provide you with the best loan possible. As a Commercial Private Hard Money Mortgage Broker in santa Barbara we can also help borrower with their commercial financing needs.
For Free Consultation Please Call (951) 254-3712 or Visit us at vfindloans.com Hard Money Loans in Santa Barbara
• Location: Santa Barbara, Santa Barbara CA
• Post ID: 4785775 santabarbara