Questions? We have answers.
We have divided this section into 4 areas to make searching easier 1. Private Money 2. Bid and Contractor 3. Draw Process 4. Inspection
PRIVATE MONEY QUESTIONS
What is “Private Money Lending”?
It’s financing provided by individuals or private companies (like Calvin Funding) instead of traditional banks. It’s often used by real estate investors who need speed and flexibility that banks can’t offer.
Generally, yes. Hard money is a common term for private loans secured by a “hard” asset, typically real estate. At Calvin Funding, we focus on the asset’s value first.
Is “Private Money” the same as “Hard Money”?
Generally, yes. Hard money is a common term for private loans secured by a “hard” asset, typically real estate. At Calvin Funding, we focus on the asset’s value first.
How Does Calvin Funding Decide How Much to Lend?
Our decision is based on the property, the type of transaction, and. For most transactions we will lend up to 90% of the purchase price or 65% of the as-is or after-repair appraised value, whichever is less.N
Can I Use My Free and Clear Property to Fund Future Non-Owner-Occupied Investments?
Yes! It may be used as cross-collateral or used for a cash-out refinance. That is a great strategy! If you have properties that are completely paid for with no liens against them, we can do a cash-out refinance to provide funds for other non-owner-occupied investments. You can also use them as cross-collateral for your real estate investing. We use both your subject property and your free and clear property as security for the loan. In doing that, we can lend up to 65% of the as-is combined value of the two properties. That is often enough to purchase your subject property and rehab it. If you have free and clear properties, mention that on your next deal