Many investors are locked into 3% or 4% interest rates on their primary mortgages and do not want to refinance the entire balance at today's higher rates. Our second position hard money loans allow you to tap the remaining equity in your property while leaving your first mortgage untouched.
We provide short-term 2nd Trust Deeds for business purposes, allowing you to pull out cash to fund a new acquisition, renovate a property, or inject liquidity into your operations.
Combined Loan-to-Value. It is the balance of your 1st mortgage PLUS the new 2nd mortgage, divided by the property value.
Because the 1st mortgage gets paid first in the event of foreclosure, 2nd position loans carry more risk for the lender.
Usually no, unless there is a specific clause in your 1st mortgage preventing junior liens.
No, our loans are strictly for business and investment purposes.
Typically within 7 to 10 days, similar to our 1st position loans.
Fidelity Funding Corp · Direct California private money lender since 2006
450 N Brand Blvd, 6th Floor · Glendale, CA 91203 · Mon-Fri 8AM-6PM PT