Idaho Residential Property Private Money Loans
Residential private money loans can be used by many people who cannot obtain funding from traditional sources. Hopkins may be your source for residential private money loan in Idaho if:
Your property is located in Idaho - we can only make residential loans in Idaho.
You have cash or equity in your property.
You have poor credit score, a bankruptcy that is confirmed (discharged), short sale that occurred, or just don't meet standard banking loan guidelines.
You have short time frame to close and need money quickly.
Your property is non-conforming to bank standards (mobile home on a foundation on acreage, rural property, zoning issue).
Note that we only make residential loans in Idaho. We make commercial loans throughout the entire US. If you have questions, call our office at 208-HOP-KINS (467-5467).
Ready To Get Started?
Download and complete our residential loan application - click here to download.
Tax returns from last two years (complete and signed).
Recent pay stubs (2 -3).
Names, addresses, telephone numbers, account numbers and current balances of any and all existing lien holders and/or judgments on your property.
Fire insurance policy.
Current appraisal (if you do not have a current appraisal within 30 days on your property, contact us about arranging to have one completed).
Property Purchase - Copy of the Purchase and Sale Agreement (Earnest Money Agreement).
Refinance - Copies of closing documents from when you originally purchased or most recently refinanced your property
- Loan Amounts: $40,000 to $1,000,000+
- Location: Residential – Idaho only
- Property Types: Improved Residential, Less than 4 Units; Mobile Home on a Foundation; Personal Residence or Investment Property.
- Grade: A - D Borrowers; Bankruptcy and Short Sales Ok.
- Interest Rates: Typically Starting at 8.5%
- Points/Processing Fees: 4 Points; $350 *
- Loan to Value: Average 70%; Up to 80%.
- Loan Terms: 10, 15, or 25 Years; Straight Amortization, No Balloon, No Prepayment Penalty.
- Income: Full Documentation, Verifiable Ability to Repay
*Other fees do apply in order to close a loan, including but not limited to: Credit Report, Appraisal and/or Realtor Opinion of Value, Tax Inspection, Flood Certificate Fee, Title and Closing Cost Fees, Long Term Escrow, and Recording Fees. NMLS #2631 / MBL #910 Hopkins Financial Services, Inc. is an Equal Housing Opportunity broker and financing is available to all persons regardless of race, color, religion, sex, handicap, familial status or national origin.