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Contra Costa Cross Collateral Hard Money Loan Funded

Chris Goulart

The hard money loans we work with here in California are equity based loans, meaning the loan amount is based on the equity in the property.  Often times clients are in need of more money than our loan to value ratios permit on their single property.  In these situations we can often times solve the problem by putting a blanket loan across multiple properties.  By structuring a loan in this manner we are able to still make a single loan, but take advantage of equity available in multiple properties.

Contra Costa Hard Money

In this situation our client was in need of funds to close on a new purchase.  He had two properties owned free and clear that he was willing to pledge, and we were able to obtain funding very quickly to close within the required time frame by using both properties as collateral.

Contra Costa Hard Money Lenders

With a blanket loan such as this, there is a single loan which is recorded against both properties.  Should one property be sold, a release clause allows for that property to be released for a pre-determined pay-down amount on the outstanding loan balance.

The benefits to structuring a loan in this manner extend further than just being able to access the full amount of cash required on a transaction.  In addition, by structuring a solution such as this as a single loan rather than two loans it saves on fees.  Fees on hard money transactions can be substantial, and with a single loan there is only the need to draw one set of docs, have a single signing and a single escrow.  In addition, the properties do not need to be like properties in order to cross them in this manner.  So we could take a single family residence and cross it with vacant land, or we could use an industrial property and cross it with an apartment building.  Cross collateral loans are not limited to only two properties either.

If you think a hard money cross collateral loan may be the option you have been searching for, please gives us a call today at 877 462 3422 and we will be happy to discuss the options we can provide!

Chris Goulart specializes in creative private money solutions secured by real estate throughout California. The private hard money loans he works with are typically funded by individuals and groups outside the more traditional banking industry. He has specialized in private hard money loans for over a decade and is fully licensed both at the state level, through the DRE, as well as the national level, through the NMLS.


Google Users Reviews

Roseanne Baker
Roseanne Baker
18:45 07 Sep 18
Chris is extremely professional, is a hard worker, always responds back to my emails/calls promptly, and is an expert... as what he does. I will definitely recommend him to anyone that is looking for lending services and I will continue to use him for all of my lending needs in the future. You will not be disappointed with his more
lorraine pitre
lorraine pitre
18:44 07 Jun 17
I used All California Lending to provide me with a hard money loan. My loan representative was Chris Goulart. I... needed the loan to close in 15 days. Mr. Goulart was able to close the loan in the time frame expected. Several things I admired about Mr. Goulart was that he had great communication via email, text and/or verbal. He was always available. I was even out of the country while he was processing the loan. I came back and the loan was completed. 5 Stars!!!read more
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