Private Money Loans

7 Day Loan Service is a broker and direct lender specializing in Hard Money Real Estate Loans in California. 7 Day Loan Service is located in the San Jose area and serves all of California. 7 Day Loan Service has been in business for over 30 years and has helped many people with their financing needs. We have many sources of funds and can usually arrange a loan quickly, with terms that are surprisingly attractive. You’ll be pleased with the full personal attention and service you’ll enjoy with 7 Day Loan Service.

Difference Between Bank Loans and Private Money Loans

Private Money Loans / Hard Money Loans are quite different from bank or institutional loans.  Banks consider several criteria when deciding whether to approve a loan, including property type, condition and value, borrower’s verifiable income, credit score and history, type of employment and probability of continued employment, etc, etc. If something doesn’t fit into their mold, it’s likely they’ll deny a loan request. Even if a loan is approved, the terms are usually set within their strict parameters and may or may not be suitable for a borrower’s situation.

Private Money Loans are funded by private investors. Private investors care about their investment and whether it’s safe and whether their investment will provide them with a reasonable return on their money. If a loan meets these two criteria, a private investor will usually approve and fund a loan. It’s that simple. In addition, private investors can be very flexible when necessary. They’re not restricted by internal guidelines or rules. This can be very helpful for a borrower who needs special terms to meet his/her special needs.

Of course, there’s always a tradeoff. Private money rates are higher than bank rates and the term is usually not as long as a bank’s term. This is to be expected. But time is money, and if a loan can be obtained in two weeks instead of two months, the proceeds can be used sooner and that can sometimes result in a lower total cost.

Please call us to discuss your situation. If we can help you, we will give you our full personal attention. If we can’t help you, we’ll tell you right away. No Pressure and No Obligation.

Call Tim Kennerson 888-531-1777 or fill out our short form.


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