Here at Security Financial Services (SFS), we pride ourselves on providing borrowers and brokers in with the most competitive private money loan products in Northern California as well as friendly and attentive customer service. We understand that borrowers don't always have the time to research the best private lending solutions.
Why choose Security Financial Services? There are several reasons:
#1. First off, we're not a hard money lender.
In fact, we cringe when we're called a hard money lender because our business model is so different. Generally, classic hard money lenders will approve challenged borrowers and/or properties in poor condition. As a result, the lender charges exorbitant interest rates, points and fees and provide a loan with a lower LTV (loan to value).
Unfortunately, many borrowers are mistakenly guided into accepting a hard money loan and don't realize that they qualify for much more favorable terms with us. We reward borrowers who have solid (but not always stellar or consistent) income and credit with the lowest pricing for private loans in Northern California for years. We've also successfully cultivated relationships with a growing network of borrowers and borrowers. We don't view our closings as solely transactional in nature.
#2. Lower pricing & higher LTVs/LTCs
We have a lower cost of capital – we use our own capital as well as funds we borrow from a group of banks - which we pass on to our borrowers. Our rates currently start at 6.95% for a 12-month loan and our LTVs are as high as 75% and LTCs (loan to cost) go up to 85%.
#3. Quick closings.
We have the ability to provide fast closings - as fast as 3 business days with a full loan package. We offer bridge loans (for up to 60 months) allowing borrowers to get a cash out refinance, make all cash offers on purchases to close quickly, improve/rehab and stabilize properties or a host of other purposes. We also offer loans to finance up to 100% of improvements.
Our team has been underwriting loans for over 75 years. In addition to our underwriting savvy, we have the ability to creatively customize deals to overcome unique property or borrower circumstances.
#5. Knowledge of local RE markets.
We're based in San Francisco and are intimately familiar with real estate market trends, permitting issues, and the other nuances of acquiring or renovating property in Northern California. We're very likely to know the neighborhood or even the subject property. When you work with us, you'll be working with someone local, not a customer service representative at a call center outside of the area.
#6. Dependability & Consistency.
Many lenders claim to have competitive terms and the ability to close quickly, but in reality they offer "low rates" and "quick closings" on only a fraction of their fundings. When we commit to loan or issue a Letter of Commitment, we always come through with a close.
#7 We're not a fund.
We're a direct lender using our own capital and we complete our own underwriting ourselves. We're not a mortgage fund that needs to raise capital funds or obtain a loan approval from outside investors.