Most property types in marketable areas will be considered: Commercial, Mixed-Use, Residential, Multi-Family, Land & Lots
» Land (Entitled) residential and commercial; » Land (Un-entitled) suburban and metropolitan areas only.
Loan Size
$100,000 - $1,000,000
Loan Position
1st, 2nd & 3rd
Rates
8.99% - 18% (Varies with term, product & collateral type, risk, leverage and deal structure)
Costs
Standard third party costs such as title and escrow. No legal or junk fees. (Minimum fee of $12,500 (includes points & third party fees)
Terms
3 months to 5 years; Balloon
Amortization
Interest Only, and Differed
Max LTV
60% (up to 65% case-by-case)
Our market niche:
Purchase or refinance of non-conforming, commercial or income property.
Lending Scenarios:
Acquisition/Purchase - Based on the value of a specific parcel of real estate.
Construction - We lend on the Future (completed) Value of the property.
Construction Completion - Unfinished properties with depleted financing.
Refinance - No Seasoning or Cash-Out Limitations.
Bridge - Fast liquidity that is less expensive than real estate equity.
Renovation/ Rehab/ Fix & Flips - We lend on the after repaired value of the property.
What we DON’T Do:
NoForeclosure bailouts
No Rural or Manufactured
No Owner Occupied 1-4 under $250,000 (unless construction)
All of our private money loans are underwritten using a "make sense approach" and the collateral as the primary consideration. The interest rate, LTV, Term, and cost of the loan will depend on a few factors including: Strength of the borrower, location and type of collateral, and EXIT strategy - how the loan will be paid back.
INTEREST RATES CAN CHANGE WITHOUT NOTICE. ASK US FOR CURRENT RATE INFORMATION. BORROWERS AND PROPERTIES MUST QUALIFY. CONDITIONS AND RESTRICTIONS MAY APPLY. Loan programs, amounts, rates and terms are subject to change without notice. Loan approval is not guaranteed and all loan applications are subject to verification of acceptable credit, income, employment, lien position and value of collateral in the sole discretion of Hanover Mortgage Company. Flood and/or property hazard insurance may be required. Additional fees, conditions, restrictions and limitations may apply. Not all programs are available in all areas. The interest rate for adjustable rate mortgage loans is subject to increase. Please contact Hanover Mortgage Company to determine your eligibility for a specific loan product. Hanover Mortgage is a Mortgage Broker. Mortgage Broker fees will apply unless stated otherwise. California Department of Real Estate, real estate broker license number 00428961. Disclosure: Money invested through a mortgage broker is not guaranteed to earn any interest or return and is not insured. State law dictates that we acknowledge that interest on trust deeds is not guaranteed. No investment is completely risk free and past performance is not a guarantee of future results. Before investing, investors must be provided applicable disclosure documents. "Hanover Mortgage does not offer financing for those transactions defined as ‘Covered Loans’ or ‘High Cost loans’ in any state or federal law." All Rights Reserved.
