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Many hard money mortgages are not genuine by private investors. often in their local area. Customarily the brownie points score of the borrower is not important. The loan is purely against the collateral of the property. Ordinarily the maximum loan to profit is 65-70%. That is, if the property is worth $100,000 you can borrow $65,000-70,000 against it. This inferior LTV is to drop the lender if the borrower does not pay and they have to foreclose on the property.
We also effort with a number of smaller lenders who offer specialized commercial and residential loan programs which most loan brokers and mortgage companies cannot offer. Commercial loans with up to 30 collegiate year amortization, 75% LTV, and no pre-payment penalty are available. We can service all of your monetary and residential financing needs and attempt excessive http://www.loansforcaliforniahomes.com/ service at the same time.