Hard Money Loans Fresno, CA.

Hard Money Loans Fresno CA.

Hard Money Loans in Fresno CA. may make good sense.  I was taken to lunch by a mortgage manager of a top tier national bank who was trying to earn my business and he made it sound like we are in the real estate crisis we are in because people couldn't qualify the conventional way.  I disagreed with him for a few reasons.  Just because someone can't fit in the conventional guidelines of a national bank for a mortgage doesn't mean they shouldn't own real estate.  Lets face it, some people just don't trust banks.  I remember when IndyMac Bank was going under and seeing hundreds of people line up outside of the bank, waiting for the doors to open so they could withdraw all of their money before it was gone!  That is just one example of why people may not like banks.

Hard Money Loans in Fresno CA may be good for people who don't like banks.  We usually call people who don't put their money in banks drug dealers or thieves but that isn't always the case.  The lack of trust for banking institutions has caused some people to put their savings under their mattress, a.k.a. "mattress money."  Well guess what, if your lender can't source and season your savings, (find the paper trail of where your money has been), chances are that they won't give you a loan.  So, you can't even look at a major lending institution to give you a loan on a house.  If you have 30% of a down payment saved under your mattress, floor boards, fire proof safe, etc., then you could possibly get a hard money loan.  Hard money loans are basically bridge financing, meaning they usually are not meant to last for 30 years.  A typical term for a hard money loan may only be 1-5 years, etc.  However, everything may be negotiable if you are willing to pay for it. 


Hard Money Loans in Fresno CA. do still depend on the condition of the property.  While a private money investor may be willing to lend up to 70% Loan-To-Value, they will mostly likely want to go look at the property to see if it is something that they want to inherit if you stop paying them (if they foreclose on you).  So, they will do a drive by and see if they like the place or not, etc.  Take a look at some of the photos of this 2 acre property I sold to a first time buyer with "mattress money" earlier this year.  My hard money guy was able to find the right hard money investor to get her in this home.  I think she was 70+ years old!

Not a mansion but under $100,000 and best value in the area!

Hard Money Loans Fresno CA