{"id":1057,"date":"2016-09-28T11:33:10","date_gmt":"2016-09-28T18:33:10","guid":{"rendered":"http:\/\/privatemoneysource.com\/broker-blog\/?p=1057"},"modified":"2016-09-28T11:33:10","modified_gmt":"2016-09-28T18:33:10","slug":"private-money-as-a-source-for-home-mortgage-loans","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/broker-blog\/?p=1057","title":{"rendered":"Private money as a source for home mortgage loans"},"content":{"rendered":"

Clay Sparkman<\/em>
\nMay articles I’ve come across lately suggest that more and more private money lenders are putting their funds into the long-term residential home market, and doing so at a fairly roate (low by private money standards). The article here–<\/em>Private Lenders Remodel the Mortgage Market<\/a>–is a good discussion of precisely this movement, and approaches the subject from a personal point of view.
\nDue to regulatory issues, average term, and average rate of return–we at Fairfield have not made a point of moving into this sector of the market. However, there are two exceptions:
\n(1) If the home is not Owner Occupied, and the owners\/buyers don’t intend to occupy it as a permanent residence, then we can do all kinds of loans\/projects with SFR homes.
\n(2) If the loan is a *bridge* loan for the acquisition of a residence, with a plan to exit or replace out loan within one year, we can make loans on OO SFR properties. This is quite often the case when either (a) a property needs some “work” prior to qualifying for a bank take-out loan, or (b) the borrower needs time to make changes to his\/her personal situation prior to qualifying for a bank loan at some point within the year.
\nWe don’t do a lot of these, but when they make sense, we have no problem doing them, so keep us in mind.
\nIf you want to run such a loan by us (or any loan for that matter), I recommend that you go to the following link on our website and it will step you through the questions that need to be answered regarding your loan proposal.
\nhttp:\/\/www.privatemoneysource.com\/loanproposal.php<\/a>
\nBest, Clay
\nIf you would like to discuss private money loans further or run a particular scenario by us, contact\u00a0Clay via email at\u00a0clay@privatemoneysource.com<\/a>. Otherwise, if you would like to get a better feel for our company and the types of programs we do, please browse our web site at http:\/\/www.privatemoneysource.com.<\/a>
\n\u2013 Clay
\nClay is Vice President of Fairfield Financial, a primary source for private money since 1964.\u00a0 Fairfield is currently targeting loans in OR, WA, AK, CA, CO, ID, FL, GA, ID, MT, NV, NY, OK and TX.\u00a0 To submit a loan to Fairfield for consideration: <\/em>http:\/\/www.privatemoneysource.com\/loanproposal.php<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Clay Sparkman May articles I’ve come across lately suggest that more and more private money lenders are putting their funds into the long-term residential home market, and doing so at a fairly roate (low by private money standards). The article here–Private Lenders Remodel the Mortgage Market–is a good discussion of precisely this movement, and approaches […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[5,6,15,19,23],"tags":[36,38,42,43,46,47,48,49,53,54,55,58,63,64,65],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/1057"}],"collection":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1057"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/1057\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}