Clay Sparkman
We at Fairfield would like to run a special loan program to give this holiday season (and the sluggish period typically coming out of it) a kick in the butt. Hey, we can celebrate with our families and friends, and still get a few things setup and ready to go in 2018, right?
Here is how it will work: Starting immediately, we are offering a significant cut in our private money loan rates. Our regular charge for a 12-month bridge, construction or rehab loan (with no prepayment penalty) is generally 4 points and 11%–with the rate dependent on the particulars of the loan.
For the months of December (2017), and January and February (2018), we are offering (via brokers and other third-parties, and directly to borrowers as well) 12-month private money loans (with no prepayment penalty) priced at 4 points and 11%, and with no additional fees (we ordinarily charge three separate loan prep and processing related fees). We will also be giving a one-point rebate fee to the broker or third-party arranging the loan, or to the borrower (if the loan is arranged directly via the borrower). (Also note: Longer terms may be arranged but must be negotiated and will most likely be somewhat more expensive.)
Thus (and this is the best that we have ever offered): the effective rate for these loans will be 3 points and 11% for one year, with no additional fees or prepayment penalties.
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 PROMO2018” in the subject line and your name, company name, and phone number in the body of the e-mail, no later than 1/15/18.
(2) You must submit a summary of your loan no later than 1/31/18, and FFS must approve the summary.
(3) You must submit a complete loan packet, as required by FFS, no later than 2/28/18.
(5) The loan must close no later than 3/31/18.
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 (clay@privatemoneysource.com, 503-476-2909)
Clay is Vice President of Fairfield Financial, a primary source for private money since 1964. Fairfield is currently targeting loans in OR, WA, AK, CA, CO, ID, FL, GA, ID, MT, NV, NY, OK and TX. To submit a loan to Fairfield for consideration: http://www.privatemoneysource.com/loanproposal.php
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