• Loan Programs
• Qualified Properties
• Underwriting

We are the loan committee. That means that no large entity is evaluating your loan and trying to fit it to their strict guidelines. We underwrite loans based on the combination of collateral, credit, and experience.

Collateral can be the primary piece of real estate being considered, or involve another secondary property. Cash is another type of collateral. Both cash and additional property create comfort in that they bring equity into the equation, and they represent a strong commitment by the borrower to see that the loan gets paid.

Credit is not numerically defined. After reading the initial score, if it is low, we look into the reasons behind why the credit is not perfect. For example, a sudden pattern of 60 day late payments on several accounts, by a borrower previously with pristine credit, can be explained by interviewing a borrower to understand the extenuating circumstances.

Experience is specific to the task at hand. A renovation loan requires working knowledge of the industry to ensure the task is profitable. Without it the borrower is at a disadvantage and the level of risk increases. A restaurant may be considered a big gamble business, but a solid operator with a proven track record substantially decreases the possibility of default.

Each scenario is examined with each borrower involved. The proper combination of the three factors: collateral, credit, and experience are what we use in our common-sense approach to underwriting.