If you have been through the loan process before, you know that the
slightest ripple can postpone your funding…maybe indefinitely. We know that unusual circumstances can create lots of
delays in a project or pending purchase. That’s where Hopkins Financial Services, Inc. can help. HFS is a non-conforming,
private money mortgage broker. HFS is primarily designed to help those borrowers who have equity in real estate but, for
whatever reason, cannot qualify for conventional bank financing.
What Makes A Loan Non-Conforming?
Borrower:If you have even the slightest credit glitch, many banks and conforming lenders cannot work with you. Hopkins Financial Services, Inc. can work with all credit grade borrowers, even if you had a past bankruptcy or foreclosure.
Property:Not all properties meet the lending criteria of conventional lenders. For example, you may have a house on a large acreage parcel, or a house on land zoned commercial. Regardless of the property type, Hopkins Financial Services, Inc. may be able to help.
Time Frame:Sometimes the conventional loan process can take weeks to a month. Here at Hopkins Financial Services, Inc. we understand that sometimes time is of the essence and you need to close quicker than a conventional source can assist. On average Hopkins Financial Services, Inc. can close your loan in a week. However, in unusual situations Hopkins Financial Services, Inc. may even be able to close your loan in a matter of days.
When is it Time to Call Hopkins…?
It may be time to call Hopkins if you have real estate equity and you have any of the following:
Short Time Frame to Close
Hard to Place Loan
Non-Conforming Property, Borrower, or Situation
Need to Sell or Borrow Against a Real Estate Note
Joint Venture Funding Need
Or you need financing for a real estate joint venture opportunity or any other non-conforming real estate need.
Loan Amounts: $20,000.00 to $2,000,000.00. Property Types: Primarily Improved Residential or Commercial loans. Will consider Construction, Land Development, Recreational, Bare Ground, Mobile Homes on Acreage. Interest Rates: Starting at 8.5% (Average 10% - 12%)
Points: 3 - 5; Varies with grade of loan.
Loan to Value: Average 60%; Max 80% on Improved Property.
Loan Terms: Average 5 - 10 year balloons; Up to 30 year amortization.
Funding Time: 2 - 3 weeks on average; faster "Private $" closing possible.
