Colorado is an odd state, prior to last year, you were unable to buy full…
Start Spring off with a closed hard money loan
I hope each of you are enjoying our nice spring weather here in Colorado (a little dry but the temperature has been great). Even though the weather has started to get nice and the economy is gradually improving, traditional bank lending guidelines are still challenging for most borrowers.
Fortunately Fairview is able to assist you and your clients with challenging loan scenarios that for one reason or another do not fit traditional bank criteria. Fairview is 100% privately funded so we have the ability to accommodate various situations. We are able to lend to borrowers with impaired credit (no minimums and prior Bankruptcies are okay. We can also accommodate borrowers with less than perfect financials. Finally, we are able to see the value of the property even if it is not performing as well as it should. Not only are we able to fund properties that most lenders cannot, we have flexible terms as long as five years with no prepayment penalties.
The beauty of working with Fairview is that we are a local lender with an A+ rating with the Better Business Bureau. I personally inspect all of our CO properties and make a lending decision. There are no upfront fees or long waits for appraisals since we underwrite everything in house. We are able to lend on both commercial properties and investment single family homes (no primary residences). We not only lend our own money, but we also hold and service our own loans. If you have a transaction I can usually tell you within hours if we are able to assist on the transaction (subject to final inspection). Below are just a few of our recent transactions. To learn more or fill out our one page application please visit www.cohardmoney.com or call me at 303..459.6061.
Colorado Commercial Hard Money: 150k SW of CO Springs
• Property was a free standing retail location
• Borrower unable to obtain conventional financing since he had a prior Bankruptcy due to his construction company
• Borrower needed money quick in order to consummate the purchase of the property; when he contacted Fairview he had 2 weeks to close and a traditional lender could not move this quickly
• Borrower needed a 5 year term to stabilize their financials and ultimately refinance with an SBA loan
Denver Residential Hard Money: 225k Denver, CO
• Borrower had an investment property owned Free and Clear
• Borrower needed funds quickly to help a startup business that he was focusing on
• Unable to get traditional lending since self employed in a new business
• Fairview able to close the transaction in a week and provide a five year fully liquidating loan to the borrower with no prepayment penalties
Boulder Residential Hard Money: 325K Boulder, CO
• Borrower owned property free and clear
• Borrower had sold a business and gotten into a dispute with the IRS regarding their tax liability. The IRS won the suit
• Borrower able to settle with the IRS for 60 cents on the dollar but needed money quickly
• Fairview was able to inspect and fund in under seven days saving the borrower several hundred thousand dollars
Above are just a few of the thousands of loans we have closed in both Denver and throughout Colorado. I look forward to working with each of you to earn your business and make this a profitable spring season for you.