Even though we only arrange construction loans for up to 60% of the completion value 100% financing is possible. To find out how please read on...
* Here is an example of how Fred used an E-Z Loan to buy his first home with no money down. Fred found a house he liked for $400K where the seller was willing to carry $200K in second position. We arranged a $200K first loan for Fred and he bought the house with no money down.
* Here is a example of how Mark built his dream home with little or no down payment. Mark found a nice 5 acre parcel for $150K where the seller would carry the purchase price and subordinate to our construction loan. Mark obtained a $250K construction Loan from E-Z Loan in first position with draws and used the sellers equity to financing his startup costs (foundation and permits) and the E-Z Loan paid for all the rest of the construction through draws as worked progressed. Mark built the house with no money down and refinanced it 2 years later and paid his first and second loans off with a new 30 year mortgage. So, you are already tentatively approved for a loan of up to 60% LTV or "our loans ratio or relationship to the homes value or purchase price.
Did you want to borrow private money to put down on a home purchase or build a home. In simple language, we can arrange an E-Z Loan for you if :
- You have a California home (or lot) in escrow ready to buy (or build on) that we can secure our loan against in first position at close even if you haven't bought it yet. This is because we can arrange real estate loans based primarily on equity. Even future equity!
- Our total loan can never exceed 60% LTV on new construction, home improvement loans or 60% of the purchase price (of an existing home that you want to buy). This is because private investors can approve your loan request based primarily on real estate equity with little or no red tape. (Sometimes 50% LTV on spec' home construction loans and 25% to 35% LTV on land loans).
- You have to build a house where you are going to do a lot of the work yourself and act as your own contractor, or buy a house where the seller will finance some (or all) of the down payment or have 40% of the purchase price (in cash or in loan(s) from the seller or someone else) to put down on the purchase.
- E-Z (5 minute) tentative loan app'!
- Free house plans (some restrictions apply)
- E-Z Loan Rates (in Ca.)
- Fax your E-Z application
- Your free gift
- What the heck is "Subordination"?
- What the heck Is "Hard Money"?
- Answers to "Frequently Asked Questions"
- Outside California, click here!
- 100% construction financing is possible?
- Builders (& owner builders)
- The 3 steps to obtain your E-Z Loan!