Hard money loans play an important role in the real estate marketplace. They offer financing to those who otherwise would be without access to such credit, and they finance short-term borrowing needs with a quick turnaround. Conventional loan officers that refer that business to Cushner Capital Group will get two fees. One for the interim […]
WHAT IS A NON-QM LOAN
Since the advent of the recent Dodd Frank guidelines, many hard money brokers and investors have resolved to only do non-owner business loans. We are still doing owner occupied first and second loans! If you have clients that do not fit into the guidelines that come with conventional lending, please give us a call. We […]
HARD MONEY UNDERWRITING
Underwriting hard money loans is a bit different than underwriting conventional loans, but there are many similarities. It is still underwriting. As with any loan file, underwriters review every piece of the entire file and determine answers to obvious questions regarding debt ratios or debt servicing, down payment, and exit strategy. The underwriter may offer […]
Hard money lenders go where conventional players fear to tread
By Kevin Wolfer, president and CEO, Kennedy Funding Financial LLC | bio Have you ever hit a brick wall with a traditional lender when working with a borrower that has a lingering lien, a property with environmental issues or even a pending bankruptcy? When conventional lenders back away from a deal, hard money lenders are prepared to step […]
WHEN TO USE A PRIVATE HARD MONEY LENDER
Despite calls to modify the Dodd-Frank business regulations, conventional lenders have continued with very stringent underwriting requirements that prohibit many good borrowers from being able to borrower the mortgage money they need. A private hard money mortgage loan is a great alternative to the conventional lending sources. Sometimes, borrowers do not meet the bank’s minimum […]
Using a Self-Directed IRA to Loan
There are many investments to place your IRA money into, not just stocks or mutual funds. When considering what to investing in for retirement, why not consider real estate or Trust Deeds? California real estate values have remained strong for many years. So, why not invest in either a property or loan on a property? […]
The Investment of Hard Money as an Option
In both the investment and real estate worlds we talk a lot about assets. Usually, it’s fairly easy to attach a dollar figure to assets and numbers that fit neatly into the cells of an Excel spreadsheet. The most important asset we have in our lives, however, isn’t so easily plugged into cut and dry math calculations – […]
Hard Money Borrowers Often Hear the Word “NO”!
No one likes to hear “no” when asking for something they want or need. It’s especially painful when “no” comes after applying for a mortgage loan to buy a personal home or investment property. However, with more than 19 years in the lending business as both a conventional and a hard money lender in California, I have […]
Who Are the Best Borrowers?
I am often asked this question by new prospective hard money lenders. Borrowers come in all shapes and sizes, and most of them cannot obtain a mortgage loan at their local bank. These borrowers range from first-time homebuyers, developers, speculators, to real estate investors. For private mortgage lending, you will probably do best by loaning […]
Credit Scores and What They Mean
A credit score is simply a number calculated based on the borrower’s credit history. The borrower gets points based on information in his or her credit report. These points are compared to those of other similar consumers and help the lending agency identify the risk of loaning money to the person or entity. Based on […]
