We are licensed by the California Department of Real Estate as a conventional residential SFR, hard money lender, California residential mortgage broker and commercial mortgage broker. Bankers Group has been in business for 38 years and our staff represents over 100 years of experience in the mortgage lending and real estate industry. We have assisted thousands of customers and financed millions in purchasing or refinancing of new or existing homes in greater Los Angeles area.
We originate, process and underwrite single family to four family owner occupied home loans from $50,000 to $2 million. We have a main concentration on hard money loans on houses and land loans. Our guidelines are a case by case basis. We also work with flippers.
The Loan Specialists at Bankers Group will work for you to find the best rate and payment based on the property, your credit history and preferences for a home loan. If you live in Topanga, Malibu, Santa Monica, Pacifica Palisades, Venice, Woodland Hills, West Hills, Encino, Sherman Oaks or the greater Los Angeles area, we are the mortgage broker for you.
What Is A Hard Money Loan?
Forex Binary News
by Daniel Hall
March 6, 2018 2:23 pm
Buying real estate as an investment can be an emotional experience. After all, you may have a lot of money already invested in a property through earnest money, third party reports and more. You may also have high hopes of turning an incredible profit through your investment strategy for the property. Clearly, you have a lot to lose if you do not find the right financing for your project, and it can be devastating to learn that your project cannot be funded through a bank loan. You may think that no bank will touch your loan request, and this may actually be true. However, a hard money lender may provide you with the funding that you need to move forward with the project.
What Is Hard Money?
You may have heard about hard money loans in passing, and you may have heard that they have very short terms and high interest rates. These two facts may have kept you from researching hard money loans any further. After all, why would you apply for that type of loan when a bank loan has a longer term and a lower interest rate? The answer is because banks will not fund all loan scenarios, and this includes loan scenarios that could result in a huge profit for you. Bank loans are institutional financing products that must comply with pre-established loan terms and guidelines. If not, the loan request is declined. Bank loans offer no flexibility. Hard money loans are private loans, and this means that a private lending company or even a private individual investor have the freedom and flexibility to determine if your loan request has merit. They are lending their own money, and they see issuing a loan to you as an investment opportunity. They are just as eager to fund a reasonable deal that makes sense as you are to take out the loan. Full Article
For rates and terms, contact Dorothy Reik at: 818-226-6100.