The Flexibility of Private Money

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private loans interest rates

Since most people are accustomed to conventional lending, they are surprised when they find out how flexible we can be on our underwriting of loans. Please don’t assume that we can do anything regardless of how bad the situation is. The deal still has to make sense. But this is the thing that separates us most from conventional lenders and banks. For example, banks want proof of where your down payment is coming from and how long you have had it. They also have restrictions on gifts for down payment. In many cases, if you receive a gift, you have to prove not only that…
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Where is the real estate market going now?

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private loans interest rates

While no one knows the answer for sure, based on research I have done, I can say that I don’t think we will see much in the way of price changes in Sonoma County for the next few years. Some people say that we will have another big drop in prices but I don’t expect it. These people reference the number of new foreclosures that will hit the market and that there will be a flood of them. However, the banks don’t want to release a large number of properties all at once because it will devalue their inventory as well as devaluing the remaining…
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Hard Money Uses

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private loans interest rates

While most people who have anything to do with real estate have heard of hard money, there are still many who can’t imagine a use for it. Who can blame them? The rates and fees are higher than banks charge and they require a bigger down payment. So, why would anyone use it? Actually, there are many reasons. Maybe the property is in poor condition or has problems with permits. It could be that the borrower has bad credit or can’t prove income to the satisfaction of the bank. Regardless of the reason one would look for a hard money loan, there is a very…
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