{"id":677,"date":"2013-04-02T14:33:40","date_gmt":"2013-04-02T21:33:40","guid":{"rendered":"http:\/\/privatemoneysource.com\/broker-blog\/?p=677"},"modified":"2013-04-02T14:33:40","modified_gmt":"2013-04-02T21:33:40","slug":"fairfield-private-money-loans-we-love-to-work-with-brokers","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/broker-blog\/?p=677","title":{"rendered":"Fairfield private money loans \u2013 we love to work with brokers"},"content":{"rendered":"<p><em>Clay Sparkman<\/em><br \/>\nFairfield Financial works hard to establish good working relationships with Loan Brokers. Though we do work directly with borrowers, we push toward being more of a wholesaler, and emphasize building relationships with professionals who can help their clients understand when private money might be an appropriate option to pursue. We will work with brokers in one of two ways:<\/p>\n<ul>\n<li>The broker refers a client directly to us, and we      package the loan, working directly with the borrower. In this case, the      broker must contact us initially to let us know that the referral is from      them and to make arrangements for us to get together, and after that need      not be involved directly. We pay the lesser of 1% of the loan amount or      20% of our total commission to the referring broker.<\/li>\n<li>The broker submits a full and complete package to us,      and remains &#8220;in the loop&#8221; throughout the loan transaction. In      this case, the broker is free to price the end product to their client,      adding whatever reasonable fees they are able to negotiate with their      client.<\/li>\n<\/ul>\n<p>In the event that you are a licensed Loan Broker and wish to submit a loan package to us, you may want to <a href=\"http:\/\/www.privatemoneysource.com\/contact.php\">run the concept past us<\/a> first. (You may wish to use our <a href=\"http:\/\/www.privatemoneysource.com\/loanproposal.php\">Loan Proposal Form<\/a> to do so.) Once we have established that the concept makes sense, please prepare a package using the guidelines on our <a href=\"http:\/\/www.privatemoneysource.com\/packaging.php\">Packaging Guidelines<\/a> page, and then call us to arrange a handoff.<br \/>\n<strong>Our Guidelines:<\/strong><br \/>\n<strong>Region:<\/strong><br \/>\nAlaska, California, Colorado, Florida, Idaho, Georgia, Montana, Nevada, New York, Oklahoma, Oregon, Texas, Washington, and Wyoming<br \/>\n<strong>Loan Amounts:<\/strong><br \/>\nNo minimum, no maximum.<br \/>\n<strong>Interest Rates:<\/strong><br \/>\n10 &#8211; 15% on firsts. (Typically 12-13%)<br \/>\n<strong>Term of Loans:<\/strong><br \/>\n1 to 5 years (Typically 1-2 years)<br \/>\n<strong>Amortization:<\/strong><br \/>\nInterest only<br \/>\n<strong>Broker Fee:<\/strong><br \/>\nTypically 5%<br \/>\n<strong>Other Fees:<\/strong><br \/>\nDocument preparation: $675 to $2,900; Loan servicing fee: $470 plus $1 for each $1000 of the loan amount; Property inspection: Typically $250 to $1000.<br \/>\n<strong>Pre-pay Penalties:<\/strong><br \/>\nNone<br \/>\n&#8212; Clay (clay@privatemoneysource.com, 503-476-2909)<br \/>\n<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 Fairfield Financial works hard to establish good working relationships with Loan Brokers. Though we do work directly with borrowers, we push toward being more of a wholesaler, and emphasize building relationships with professionals who can help their clients understand when private money might be an appropriate option to pursue. We will work with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[16,18,26],"tags":[43,46,55,58],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/677"}],"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=677"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/677\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}