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FREQUENTLY ASKED QUESTIONS
Who are private money loans ideal for? They are ideal for borrowers who are either unable or choose not to obtain funding through conventional sources. Some property types, credit situations, and loan configurations can't be financed through normal credit resources. Private lenders offer creative financing and problem solving ideas in such situations.
How do I proceed? Once pre-qualified, an application is obtained from you along with any other appropriate financial statements. A final commitment is made in writing to you, and you are on your way to procuring the financing that you need.
What if I'm an investor, not a borrower? If you have funds to securely invest in real estate instruments, contact us and we'll provide detailed information on how to make your money work 4 times as hard for you as you sleep easier at night.
Is your money just for financing? Our loans help you finance a property purchase or pull cash out of a property you already own. We frequently fund 100% ‘cash out’ loans meaning 100% of your loan proceeds less closing costs are issued to you at closing. |
How long do private money loans last? Private money loans typically last two to three years but can be as short as one month or as long as five years. Generally they have a longer term amortization keeping the payment smaller so the remainder of the loan is usually due at the end of the loan term. They can also be extended or refinanced if that is desired.
When may I expect funding? Most loans can be funded in less than two weeks. We have funded loans in as little as three days when necessary. We rely on third parties to do paperwork such as title reports and documents necessary to close your loan.
Can I really finance land? Yes, you can! It doesn’t work very well at the bank, but we have cash for financing farm land, recreation land, development land, bare lots and just plain land that’s holding the earth together.
How do I qualify for a loan? Pre-qualifying with Signature Financial Services for an equity loan is easy and fast. E-mail us with a description of your property, it’s location, any debt against it, and your estimated value. |
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FOR MORE INFORMATION CALL: 208.853.5400 or 1.888.868.1500 |
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Copyright (c) 2006 Signature Financial Site Design - Elizabeth Hackett Design |
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