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Our market niche is providing funding for real estate projects needing equity based, fast response, and short-term bridge capital to allow the positioning or repositioning of the project for conventional long term financing.
Lending Area California Statewide (Urban and Suburban areas)
Loan Size $50,000 to $1,500,000+ on a case-by-case basis.
Terms 1-3 years, interest only.
Interest Rates Vary with term, product type, collateral type, risk, leverage, and deal structure.
Property Types
- Residential properties in marketable areas
- Multi-family: 5-unit to 50-unit apartment buildings
- Commercial: office, retail, light-industrial, warehousing
- Land: raw, entitled
LTV (Loan to value)/CLTV (Combined loan to value)
1st Trust Deeds
- Residential, owner-occupied, purchase: n/a
- Residential, owner-occupied, cash-out refinance: n/a
- Residential, non-owner-occupied, purchase: up to 60%, case-by-case to 65%
- Residential, non-owner-occupied, cash-out refinance: up to 60%, case-by-case to 65%
- Multi-Family and Commercial, purchase: up to 60%, case-by-case to 65%
- Multi-Family and Commercial, cash-out refinance: up to 60%, case-by-case to 65%
- Land, vacant, fully entitled: up to 50%
- Land, vacant, raw, miscellaneous: up to 35%
- Land - Lot Financing (Finished Lots): up to 50%
2nd & 3rd Trust Deeds
- Residential: up to 60% CLTV, case-by-case to 65%
- Multi-Family and Commercial: up to 50% CLTV, case-by-case to 60%
- Land: n/a
We will consider cross-collateralizing other properties to achieve the necessary loan-to-value and will consider a second lien mortgage behind our first lien; a seller 2nd with the borrower contributing 10%.
HanoverMC is able to offer a wide variety of flexible and innovative mortgage programs with competitive rates to conforming and non-conforming borrowers while maintaining premium yields for our Investors.
Good Deeds You Can Trust™ |
