REAL ESTATE BROKERS
BaySierra Financial, Inc. (BSF) welcomes brokered real estate loans on all types of property from licensed California real estate brokers and salespersons. We make private money loans all over Northern California and institutional construction, commercial or incoming producing property loans anywhere in the United States.
PRIVATE MONEY LOANS
Private money loans can typically earn a referring agent 1-3 % commission of the loan amount and can close generally in 30 days or less. Brokerage fees are paid directly from escrow, no waiting for your commission to be "processed".
When a loan does not fit an institutional lender's criteria, then private lending can be an acceptable alternative for needed capital. Private money loans can be tailored to meet individual borrower needs and circumstances. Private money will fund all kinds of real estate, commercial, industrial, multi-family, retail and special purpose properties.
For land development, private money loans many times are cheaper than a partner. We are interested in subdivision construction loans for roads, utilities, site-work and similar below grade improvements. The information provided by the borrowers is similar to the information provided institutional lenders, but the underwriting criterion is more flexible.
We do not fund owner occupied residential real estate for consumer purposes (TIL - Section 32) or above grade construction loans.
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Institutional loans typically pay from 0.50% to 1.00% depending on the size and type of loan. These loans are obtained from banks, mortgage bankers, insurance companies and Wall Street conduits. Loan processing times are longer, typically 45 days or more, and underwriting requirements can be stringent. The good news is the terms, interest rates and fees can be very attractive to the borrower.
A word of caution on institutional lender prepayment penalties, secondary financing and assumptions. Many institutional lenders have strict and enforceable pre-payment fees, regardless of the reason for the prepayment, prohibitions on any secondary financing without their written approval and the loan may not be assumable under any circumstances. Otherwise, institutional lending is very favorable to those seeking long term fixed rate financing.
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Construction loans are offered on single family homes, residential subdivisions and all types of commercial and industrial projects. Construction loans are typically with California banks. Rates, terms, and fees vary between banks as each loan is individually underwritten by the respective lenders.
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