Can I pay off the loan anytime prior to maturity?

Yes, our loans have no prepayment penalties. They can be paid in part or in full anytime prior to maturity.

 

Do you cooperate with brokers?

Yes, many of our loans are brought in by outside brokers. What if I have a low credit score? Private Mortgage Fund, LLC is a collateral based lender. Although a borrower's credit and financial condition is considered, our primary focus is the equity in the property.

 

Is an appraisal needed?

In certain instances where determining a property's fair market value is difficult to ascertain, or a borrower is looking to obtain our maximum loan to value, an appraisal is needed. In most cases, determining the fair market value is fairly simple and an appraisal would not be required.

 

How quickly can you fund my loan?

In most cases, funding occurs within 7 days of receipt of a borrowers loan application. More expeditious fundings are possible.

 

What is the benefit of borrowing from a loan fund versus another bridge or interim loan source?

Our Fund principals are the decision makers. We have no formal loan committee, thus decisions can be made quickly. As a loan fund, we have capital available to lend and do not need to seek individual loan investors like many other short term loan sources.

 

What is your minimum loan amount?

Our minimum loan amount is $100,000.

 

What type of properties will you consider?

We will fund commercial (retail/office), industrial, multi-family (apartments) and non-owner occupied single-family residential. We will consider land loans for coastal and infill locations under a lower loan-to-value structure.