Clay Sparkman
We have run this construction loan program on several occasions, and we are so excited about this specific niche that we are going to run a similar promotion in honor and celebration of summer.
As a private money construction lender, we’re able to provide a variety of creative solutions that are just not available via more conventional sources. If the parameters and circumstances are right, we are also able to overlook many issues that might be problematic with more structured lenders. Small to medium construction loans are one of our sweet spots, and we are geared up to make as many as we can this construction season.
Starting immediately, we are offering a significant cut in our construction loan rates. Our regular charge for a 12-month construction loan is 5 points and 10-12%–the rate dependent on the particulars of the loan—but typically 11%.
For the month of July/August/September, we are offering (via brokers and direct to borrowers) 12-month construction loans–for ground up construction priced at 3 points and 10-12% (typically 11% depending on the particulars).
The conditions are as follows of this promotion are as follows
(1) You must register with FFS by sending an e-mail to clay@privatemoneysource.com with “REGISTER” in the subject line and your name, company name, and phone number in the body of the e-mail, no later than 8/31/17.
(2) You must submit a summary of your loan no later than 9/7/17, and FFS must approve the summary.
(3) You must submit a complete loan packet, as required by FFS, no later than 9/15/17, for the loan the same loan for which you submitted a summary in July or August.
(4) The minimum loan size for this promotion is $200,000.
(5) The loan must close no later than 9/30/17.
Check out our web site for details re our loan criteria, our packaging guidelines, and our process.
www.privatemoneysource.com
I encourage you to sign up and give it a try. The real estate market is up and rising, and we are just now entering the construction season of 2017–one that I expect to be the best we have had in quite some time.
All the best in your endeavors, Clay
– Clay Sparkman (clay@privatemoneysource.com)
Vice President of Fairfield Financial, lending since 1964. Currently targeting loans in Oregon and Washington, with potential to loan in: AK, CA, CO, ID, FL, GA, ID, MT, NV, NY, OK and TX. To submit a loan to Fairfield Financial for consideration: http://www.privatemoneysource.com/loanproposal.php
Tags: commercial lenders, Commercial loans, construction loans, hard money borrowing, hard money brokering, hard money loans, Idaho, Las Vegas, Montana, private money borrowing, private money brokering, private money loans, Quick flip loans, real estate, real estate investing, rehab loans, REO funding, Short sales, Washington
