Borrowers, investors, and brokers aren't the only people involved when it comes to making successful hard money loans or private money loans. A realtor—also known as a real estate agent or a real estate broker—is the intermediary between buyers and sellers of real property or real estate. He's also the one who attempts to find buyers who wish to buy and sellers who wish to sell property.
1st Point Lending Inc. is trusted among borrowers (because of its successful history), investors (because of its ROI of 8% or higher), brokers, and realtors (because of its lengthy experience in dealing with both realtors and brokers).
1st Point Lending Inc. understands the importance of clear communication between itself and its clients. We understand that in order for use to optimize our services—which includes private mortgage fund or hard money loans that use part of a property as security—we need to become aware of each and every last need and requirement of our customers. We also offer investors a means for safe investment secured by real estate and ROI of 8% that can rise depending on the circumstances.
We Listen Carefully To Your Needs
After all, it's a fund that handles not only the requirements of its borrowers and investors, but also deals with brokers and realtors, among many other professionals; ergo, it's important for 1st Point Lending Inc. to establish a strong communication line for all its customers and everyone involved in a given deal.
Regardless if you're the borrower or investor for private money loans, private financing, or private mortgage pool, we will make sure to optimize our services in accordance to your unique situation. Indeed, loans are best handles on a case-by-case basis, so please free to contact us directly.
Aside from managing features and benefits like private money loans, hard money loans, private mortgage pool, private mortgage fund, private financing, safe investment secured by real estate, and ROI 8% for investors, the managers and crew of 1st Point Lending Inc. are also focused on the complete satisfaction of its clients, which includes investors and borrowers, with its well-established relationships with big lending institutions and its long experience in handling third-party negotiations with brokers of all types and realtors. With that said, here are the most frequently asked questions we have when it comes to realtors, realty funding, and real estate.
Aside from the aforementioned fact that we can act quicker than the average bank to close a loan, we are also collateral-based lenders who focus mostly on our lien's equity position, so we scrutinize borrowers less heavily. Even if a borrower has bad credit or cannot document income, we'll still consider these loans because you're only lending a small part of a real estate's value.
As mentioned elsewhere in the site, 1st Point Lending Inc. will consider the following properties for funding as well as eligible security for a loan: apartments, special purpose property, non-owner occupied houses (single-family residential), school property, industrial property, commercial property (retail/office), and church property. We will consider land loans for infill locations and coastal locations (under a lower loan-to-value structure).
All of 1st Point Lending Inc. real estate investors have either a strength of equity or personal funds serving as their security and guarantee that the trust deed payment is prioritized. Furthermore, there's equity in the form of a brokered loan at 60% of the ARV or LTV, where the borrower’s personal cash flow or a rental cash flow that sufficiently pays the monthly mortgage.
Yes. Not only does 1st Point Lending Inc. require fire insurance on a given property; we also require the investor to tell the insurance company that the property is vacant. There should be coverage in the amount of the replacement guarantee or loan. 1st Point Lending Inc. will also require flood insurance when applicable.
We've already received an independent appraisal on the property before we present it as eligible for funding. A copy of the appraisal will be sent to the investor as well as the property address for the investor’s information. There's a lot of work required when it comes to qualifying a piece of real estate and borrower before the investment is proffered.
On average, we lend on Californian non-owner occupied homes that are vacant. We mainly concentrate on single family homes.