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Chris Goulart, Broker Associate, DRE Lic. # 01458390 NMLS Lic. # 298819 Bay Mountain Mortgage broker Lic. #01227690
Placer County hard money loans funded! We can help with your hard money loan request on properties in Placer county, as well as throughout the state of California. This recent Placer County hard money loan we were able to help with was a unique loan request. We were able to meet the borrowers request with regards to loan amount as well as rate and close in time to pay off a private money loan they had coming due.
This property was purchased for about 60% of the current value fairly recently. The borrowers improved the property, remodeling much of the interior as well as completing a garage conversion. The property was leased up and they completed permits for the conversion just prior to our loan closing.
We were able to secure a hard money loan on this Placer County property based on the current value of the property. We did not take into account or cap based on the original purchase price. We also were able to secure a rate in the single digits, payoff the existing private money loan and provide the borrowers cash out to pay off debts incurred related to the remodel of the property.
The property was unique for the area, and there was turnover with regards to tenants. In addition there were other hurdles to completing this loan. We were able to secure the funds required despite the issues and perform as initially indicated.
We specialize in difficult or unique situations. Where other hard money lenders may turn down a loan, we are willing to look at creative solutions to help get your loan funded. We have many years of experience in the business. We have built long term relationships that allow us to obtain funding for a wide range of properties and loan requests. We can help provide Placer County hard money loans. We can also help with hard money lending in the surrounding areas and throughout the state of California. For more information, please visit our California hard money loans page or call us today at 877 462 3422 to discuss your scenario and see how we can help you.