PB Financial Group has 14 years of experience of providing 2nd position hard money loans to a variety of borrowers. We are known to get only into a loan agreement with thorough understanding of your specific preferences, and then designing a deal that fits your needs and gets the transaction completed before you can say “2nd position hard money loans in California” twice.
We offer hard money 2nd position loans to investors in California so they can secure interesting deals on unoccupied and owner-occupied properties for residential and commercial purposes. Working with us, you can easily qualify for a 2nd position hard money loan if you can commit a currently owned property of value proportionate to your need, property purchase, or in a cross-collateral scenario.
A 2nd position loan or mortgage is recorded against real estate with an existing loan. While the already existing loan is called the senior loan on account of its seniority in recording, your 2nd position loan may also be referred to as the junior lien.
In situations where you might need a second mortgage, you will probably need to agree on a loan with a higher interest rate than your first mortgage.
That’s where a private 2nd position mortgage can help you in keeping your long-term loan in place and still borrow against the equity in your property.
PB Financial Group is a hard money lender with services that cover all of California. At PB Financial Group, We offer 2nd position loans over looking your credit and transactions history that may have an unsavory effect on a conventional loan application, such as foreclosures, bankruptcies, loan modifications, short sales, and bad credit.
To us, the worth of your promise of repayment – combined with the proportionate real estate collateral you attach – is enough to offer you a lightning-fast hard money loan. In some instances, hard money 2nd loans can expedite the repairing of the borrower’s credit score, especially when it is used for debt consolidation.
Most 2nd position hard money loans are offered by hard money lenders for business purposes only, but PB Financial Group provides both consumer purpose and business purpose hard money loans. In case you are not aware of this distinction, a business purpose hard money loan is one where most of the borrowed funds are used for business purposes, such as investing in a business, purchasing investment real estate properties, or for starting a business.
On the other hand, if most of the borrowed money is used for consumer purposes, such as purchasing an RV, or a boat, personal debt consolidation, or remodeling your primary residence, the loan is considered a consumer purpose hard money loan.
Convinced yet? Get in touch with our customer support team today and apply for a 2nd position hard money loan with a lender you can rely on.