{"id":288,"date":"2011-04-26T09:40:31","date_gmt":"2011-04-26T16:40:31","guid":{"rendered":"http:\/\/privatemoneysource.com\/broker-blog\/?p=288"},"modified":"2011-04-26T09:40:31","modified_gmt":"2011-04-26T16:40:31","slug":"example-private-money-loan-turn-of-century-coastal-view-home-remodeling-project","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/broker-blog\/?p=288","title":{"rendered":"Example private money loan &#8211; turn of century coastal view home remodeling project"},"content":{"rendered":"<p><em>Clay Sparkman<\/em><br \/>\nBecause I have found that one of the best ways to learn is by way of example, I like to give frequent examples of actual loans that we have funded.\u00a0 The following loan was funded quite some time ago, but is quite typical of the sort of thing that we are looking to do more of today.<br \/>\nFairfield Financial had the opportunity to work with a subcontractor who had been turned down by his bank for a remodeling loan.\u00a0 After a lengthy and tedious application process, he had been bluntly rejected because his documented income was too low.\u00a0 Next, he was referred to a low-income program, where after another lengthy and tedious process, he was told the opposite: that he made too much money to qualify.<br \/>\nHis Realtor, having heard about Fairfield Financial, suggested that he give us a call. Within 24 hours of his contacting us, we had assessed the situation and were able to make a commitment to arrange financing for his project.\u00a0 Within three weeks he had his money and was moving rapidly forward on the project.\u00a0 The loan was made as a combination equity loan of $55,000 and construction holdback of $55,000, with these holdback funds dedicated to completing the project.\u00a0 The borrower expected to make a profit in the realm of $100,000 upon completion of the project.<br \/>\nOnce again, Fairfield Financial is helping individuals and businesses complete projects that don&#8217;t fit the molds of the banks and institutions, but clearly make good sense.<\/p>\n<p style=\"padding-left: 30px;\">&#8212; Clay (clay@privatemoneysource.com, 503-476-2909)<\/p>\n<p><em>Clay 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><a href=\"http:\/\/www.privatemoneysource.com\/loanproposal.php\">http:\/\/www.privatemoneysource.com\/loanproposal.php<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Clay Sparkman Because I have found that one of the best ways to learn is by way of example, I like to give frequent examples of actual loans that we have funded.\u00a0 The following loan was funded quite some time ago, but is quite typical of the sort of thing that we are looking to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[14,19],"tags":[38,42,43,46,54,55,58,59,60,61,63],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/288"}],"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=288"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/288\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}