A private money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Private money can also refer to not only an asset-based loan, but possibly a loan issued to a borrower in a distressed financial situation where bankruptcy or foreclosure proceedings are occurring.

Not always. If the loan is for business purposes on commercial property then sometimes you do not have to pre-qualify. However, pre-qualification will help speed up the purchase process.

If you have a low credit score we might very well be able to fund a loan for you. However, you may want to come up with additional cash down to help lower the LTV related to your loan.

Having a foreclosure or short-sale on your record will not prohibit us from making you a loan. Because we do our own underwriting we look at the total picture and take into account the circumstances surrounding the foreclosure or short sale.

Our terms vary based on the borrower’s complete financial picture and the condition and type of property. Please call us with your loan scenario to obtain a pricing quote.

The LTV is one of the most important measurements in the loan process. Its calculated as the amount you are borrowing divided by the value of the property you are purchasing or refinancing. For example, if you are purchasing a property for $100,000 with a $20,000 down and a $80,000 loan, then your LTV=80k/100k or 80%.

Yes, we will fund a trustee sale, but the application process is unique

Yes. We can help you acquire or finance property with a short-term loan. This won’t prevent you from refinancing with your bank when the time is right.

The time it takes to fund a loan depends on a variable of factors. It can take 4-6 weeks or as little as a few business days.

The position defines a priority order for claims that can be made against the property in the event of a foreclosure. At San Luis Financial we will occasionally fund a second position note, however this is a riskier transaction, so these notes generally carry higher interest rates.