Other Real Estate Loans

• Commercial Loans
• Land Loans
• Construction Loans

Commercial Loans

Are you in the market to purchase a commercial income property? Refinance your commercial loan? Draw available equity from an income-producing commercial property anywhere in the USA? Restructure existing commercial debt? Have a commercial loan maturing?

We specialize primarily in loans for INCOME PRODUCING PROPERTY in CA and the Western U.S. but will look at income property loans in major metro areas nationwide.

• Apartment Buildings
• Senior Living Centers
• Office and Medical Buildings
• Multi-Unit Retail
• Mixed-Use properties
• Storage Units
• Mobile Home Parks
• Hotel & Motel, Resorts -- flagged preferred, but can facilitate non-flag

Occassionally, we arrange financing for other specialty properties, but mostly in CA and the western U.S.

• Churches
• Industrial
• Warehouses
• Gas Stations
• Laundromats, Dry Cleaners, Car Washes
• RV parks

We provide up to 90% commercial financing nationwide with the U.S. government-insured SBA (Small Business Administration) 504 and 7(a) loans for owner-occupied commercial property purchases.

For commercial property loans,
call me direct at 1-800-644-8829.

California residential lot and land loans

Residential Lot Loans (no cash-out)
Financing for the purchase or rate/term refinancing of California residential-zoned lots for future construction of an owner-occupied, primary residence. See our land loan restrictions.

Residential Lot Purchase
(intended for future primary residence)
* 3/1 ARM loan, fixed for 3 years, adjustable thereafter, 30-year payment schedule. (Index is 1-year Treasury plus 3.25% margin after first 3 years. Floor is start rate.)
* 30% down payment for residential lot purchase for lots with city water and sewer, 35% down for lots with well water and/or septic
* Minimum loan amount: $75,000. Max loan amount: $500,000
* 1st Trust Deed lien position only -- no subordinate financing
* Lot must be zoned for Residential use only
* CALIFORNIA residential lots only
* No prepayment penalty
* Maximum 10 acres (up to 20 acres allowed if common for the area)
* Full income documentation required (no stated income)
* Minimum 700 qualifying credit score
* * Conditions, terms, and restrictions apply
* We do not offer land purchase loans for development of residential tracts.

Residential Lot Refinance
NO CASH OUT. Rate & term only, must be intended for primary residence
* 3/1 ARM loan, fixed for 3 years, adjustable thereafter, 30-year payment schedule. (Index is 1-year Treasury plus 3.25% margin after first 3 years. Floor is start rate.)
* 70% max Loan-to-Value on lots with city water and sewer, otherwise 65% max Loan-to-Value for lots with well water and/or septic
* Minimum loan amount: $75,000. Max loan amount: $500,000
* 1st Trust Deed lien position only -- no subordinate financing
* Lot must be zoned for Residential use only
* CALIFORNIA residential lots only
* No prepayment penalty
* Maximum 10 acres (up to 20 acres allowed if common for the area)
* Full income documentation required (no stated income)
* Minimum 700 qualifying credit score
* * Conditions, terms, and restrictions apply
* We do not offer land purchase loans for development of residential tracts.

Agricultural Land Purchase / Rate-Term Loans
Financing of California land zoned for agricultural use (AG).
* Minimum Loan Amount: $100,000. Maximum Loan: $300,000
* Maximum 40 acres, must be rural property
* Must have public road access and electricity to the property line
* No cash-out -- purchase and rate/term refinance only
* Must intend to build primary residence at some point in the future
* Fixed Rate and ARM loans from 1 - 25 years, fully amortizing
* Full income documentation only (no stated income)
* Minimum 620 qualifying credit score
* No prepayment penalty
* CALIFORNIA property only
* Minimum 90 day escrow / closing required
* 3 - 5 points plus closing costs
* Other conditions, terms, and restrictions apply

Commercial Lot Loans (CA ONLY)
Commercial lot loans:
* maximum 40% LTV purchase and rate/term refinance
* must be located in a major metropolitan or urban area in CA --
no rural lots
* Requires 680+ minimum credit and documented income
* Cash out requires minimum $250,000 loan, max 25% LTV. Cannot offer more cash-out than the owner's cash equity.
* Minimum California commercial lot / land loan = $150,000 for purchase and rate / term refinance.

Restrictions on lot and land loans:

a) No broker co-ops -- full referral only
b) No loans on non-entitled or partially entitled land to developers
c) No "cash-out" transactions except prime commercial lots, and then only at a LTV of 40% or less.

For residential lot loans in California,
call me direct at 1-800-644-8829.

Construction Loans
Remodel Loans
FHA 203k Repair / Rehab Loans
California Only

Available residential construction loans include "One-Time-Close Construction" loans, "Construction-to-Perm" loans, and FHA 203k loans for owner-occupied 1-4 units. Owner-builders and stated income programs are available. For California residential construction loans, we offer a few options:

Residential Ground-Up Construction Loans for borrowers using an outside contractor to build a primary, second, vacation home or investment property in California.

"Stated Income " Construction Loan
We also offer a privately funded, stated income construction loan for owners and builders who own the lot "free and clear" only. This unique program allows for 60% -- 70% of the lesser of Loan-to-Value, or Loan-to-Cost, depending on the intended future occupancy. A minimum 700 credit score is required. Note rates range from 3.99% - 5.99%. 6-month loan term with a three-month extension available at + 3.00% to note rate. No prepayment penalties. Also available to complete construction already started.

"One Time Close" Construction Loan
For those who have approved plans and a contract with a builder but have not yet purchased a lot, a One-Time-Close construction loan allows you to combine the lot purchase, construction, and permanent financing into one loan -- saving you thousands of dollars in costs versus multiple loans. The down payment required will be based on a percentage of cost-to-build, depending on the amount.

"Construction-To-Perm" Loan
If you already own your lot and have approved plans and a contract with your builder you'll need a construction--to-perm loan in most cases. A construction-to-perm loan is a combination of two loans -- one for the construction of the home followed by permanent financing when the construction is completed. You'll need a minimum 20% or more cash equity in the total project cost to qualify. Owner-Builders are allowed for primary residence construction only, provided the majority of income received is from general contractor activity. Otherwise, licensed builders with an operational general contracting company and good credit is required.

Private Money Jumbo Construction Loan
We still offer hard money jumbo construction loans over $750,000, provided there is a minimum 30% documented cash equity vested in the project based on total cost. Loan caps at 55% to 65% of finished value. Decent credit and a viable exit strategy required. Rates from 11.25% and minimum 4 points cost.

FHA "203k" Purchase and Rehab / Repair Loan
The FHA 203k loan program allows buyers to purchase or refinance a home and include the costs to rehab or repair the property in one loan. The FHA 203k loan program is ONLY available on owner-occupied 1-4 unit properties - it is not for investment property.

The FHA 203k loan program allows buyers of homes in need of repair or major rehabiltation to purchase a 1-4 unit residential property, including bank REOs, foreclosures, and short sales. Existing homeowners can also use the FHA 203k loan program to remodel and make improvements to an existing owner-occupied residence.

Eligible improvements include anything that becomes a permanent part of the property and adds value or is a health or safety issue. Luxury items such as pools, hot tubs, tennis courts, gazebos, BBQ pits, saunas, or additions to support commercial use are not allowed under the FHA 203k loan program. Call for info on our Fannie Mae renovation loan, which does allow certain luxury improvements.

The maximum FHA 203k loan amount is limited to FHA loan limits by county. 203k loans are based on the lesser of:

a) the sales price or "as is" appraised value PLUS repair/rehab costs MINUS any applicable sales concessions
OR
b) 110% of "as completed" value.

Interest rates and down payment follows FHA pricing, and the program is available to first-time home buyers. You may use a contractor for the work (recommended on major rehabs) or do the work yourself. A minimum 90 day escrow / close is required for the 203k loan.

Call for more information about the FHA 203k loan program today.

For construction loans in California,
call me direct at 1-800-644-8829.