With the real estate market continuing to perform well, our California hard money loans have continued to evolve. We have a great program available now that typically prices in the single digit rates with a cost of 2 points or less that will take your San Jose hard money loans to 70% LTV. This program is available in most areas of the state, but we are highlighting the San Jose area due to the strong market and locality to the tech industries.
This program typically structures the loan as a 30 year amortization with either a 3 or an 8 year fixed period. After the fixed period, the rate is then tied to the prime rate. These hard money loan programs can go to 70% on residential investment properties as well as commercial properties. In a purchase situation, we can even reach as high as 75% of your purchase price.
With rates in the single digits and typical points coming in at 2 or less, these programs are more credit sensitive than our other hard money loan programs here in California. Typically speaking we need a minimum credit score of 650, although there are exceptions made depending on the deal, collateral and overall scenario.
We specialize in hard money loans in California, and love working with local borrowers in the San Jose and surrounding San Francisco Bay Area. We offer long term as well as short term products. We can help with ground up construction, acquisition lending and fix and flip loans. All of the loans we do are business purpose - we do not finance consumer purpose owner occupied transactions.
For more information on the hard money loan program outlined above, please call us today at 877 462 3422. Typically we can give you a good idea of how we can help with your private money request with a short conversation and overview of your project and financing request.
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