Ten Reasons You May Need A Private Money Loan In San Mateo County

Mortgage and Lending with Guarantee Mortgage NMLS#386911 DBO #1850

Here are ten reasons why you may need a private money loan in San Mateo County:

  • Speed - private money lenders can move fast because they can give more attention to the files submitted. They are not processing hundreds or thousands of files per day, like banks do.
private money
  • stated income - private money lenders may not require income documentation as long as the file falls within regulation Z guidelines regarding stated income.
  • low credit score - private money lenders are more willing to work with clients who have credit scores that fall below what the banks require. Their primary concern is equity in the property. Secondarily, they are concerned with the client's exit strategy, meaning the plan to get the private money loan paid off when it becomes due.
  • High loan amount - many banks have reduced their maximum loan amount. Private money lenders can fill the void by funding large loan amounts.
  • Unlimited Cash-out - The restrictions on cash-out have been tightened by institutional lenders. Private money lenders have the ability to fund loans that do not have restrictions on the amount of cash-out.
  • Vesting - Many lenders do not allow title to be held by a corporation or LLC. Private money lenders are often able to fund loans with the property vested in a corporation or LLC.
  • Bridge Loan - If you want to buy a home before you sell your current home, you may need a bridge loan. Private money lenders are often the source for this type of loan.
bridge loan
  • Rental property cash-out - This type of transaction is another type that has had its guidelines tightened by most financial institutions. Although the rates are usually higher, private money lenders can fund this type of transaction.
  • Incomplete construction - Construction projects sometimes stall because the financing source runs out of money. To complete construction, a private money lender can be a source of funds to fill the gap to finish construction.
  • Pay off another private money loan - Private money loans are usually written for a short term (1 to 5 years). The private money borrower may not be able to qualify for an institutional loan when their current loan becomes due. Their only choice may be another private money loan.

If you are a borrower or a mortgage broker in San Mateo County, or anywhere in California, I can help you obtain private money financing.

Contact Me

What Is A Private Money Loan?


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Phil Caulfield NMLS #386911 APMC #1850 has been helping people obtain mortgages since 1985. The views, articles, postings, and information listed at this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.


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Anthony Ebright - NMLSR ID #247647 Purchase and Refinance Mortgages
FHA, VA, Conforming, Jumbo - Wells Fargo Home Mortgage - Santa Rosa, CA

Phil, It's nice to see there still private money available! I'm putting you on my rolodex!

Nov 14, 2009 03:49 AM #1
Phil Caulfield
Guarantee Mortgage - Burlingame, CA
I Get The Loans Done That The Big Banks Don't!

Thanks Anthony - I think there is going to be plenty of demand for private money with the tightening of lender guidelines.

I look forward to working with you in the Confirmed Loan Officer program.

Private Money

Nov 15, 2009 03:07 AM #2
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Phil Caulfield

I Get The Loans Done That The Big Banks Don't!
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