Investment Criteria

We consider loans that fall outside the guidelines of traditional financial institutions and sub-prime lenders.
Loan Characteristics
 
Security - 1st and 2nd Trust Deeds

Funding Time Frame - 7 to 10 Days
LTV - Up to 70% on improved-marketable structures, And Up to 65% on fully entitled land.
Loan Term - 6 months to 15+ years
Loan Size - $100,000 to $10,000,000 per transaction/same project.
Lending Geography - California only
   
Loan Purpose
 

Bank workouts, bankruptcies and foreclosures.
Acquisition and Development.
Construction / Renovation
Investor Remodel/Rehab
Bridge Loan / Equity Loan
   
Property Types
 

Single-Family Residential (1-4)*
PUD Developments (HOA)*
Condos (Low, Mid or High rise)*
Non-Warrantable Condos*
Multi-family, Apartments
Mixed use, special use and single use.
Commercial, retail, industrial, land and more...
   
*Owner-Occupied, Second Homes, Vacation Homes, and Investment Properties.

No Modular homes (site built) or Manufactured homes (Formerly referred to as mobile homes or trailers).

Borrower Types
 
   Individuals
  » Foreign National
» Non-Perm Resident Alien
» Permanent Resident Alien
   Companies
  » Sole Proprietorship
» Partnership
» LLC
» Corporation

  Trusts
  Non-Profit Organization
  Other Legal Entities
   
Typical Transactions
 
   Tax Liens/Judgments

   Estate and/or Property in Probate
   Current Notice of Default/Sale
   Foreclosure Prevention/Bailout
   Distressed Property Purchase
   Property in Receivership
   Remove an existing NOD
   Title to be held by an Entity
   Balloon Payment Due
   Emergency Cash Quickly
   Bankruptcy (Old or New)
   Bad Credit or No Credit
   Credit Scores below 500 (Low FICO)
   Unverifiable Income
   Divorce/Partial Interest
   Cash-out Refinance
Quick closings, "make sense" underwriting, and flexible terms.
 
When banks can’t compete, Think outside the bank!sm
Closing loans that banks can’t or won’t!

©2005. Hanover Mortgage. All Rights Reserved.
 
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Hanover Mortgage is licensed for California only.

The information contained on this page is intended for mortgage professionals only. Hanover Mortgage Company offers no guarantees or warranties regarding the information contained on this section. Each industry professional relying on this information must insure that they are originating loans in accordance with their own licensing requirements. "Hanover Mortgage does not offer financing for those transactions defined as ‘Covered Loans’ or ‘High Cost loans’ in any state or federal law." Hanover Mortgage is a Mortgage Broker. Mortgage Broker fees will apply unless stated otherwise. California Department of Real Estate, real estate broker license number 01410448. INTEREST RATES CAN CHANGE WITHOUT NOTICE. ASK US FOR CURRENT RATE INFORMATION. BORROWERS AND PROPERTIES MUST QUALIFY. CONDITIONS AND RESTRICTIONS MAY APPLY. Loan programs, amounts, rates and terms are subject to change without notice. Loan approval is not guaranteed and all loan applications are subject to verification of acceptable credit, income, employment, lien position and value of collateral in the sole discretion of Hanover Mortgage Company. Flood and/or property hazard insurance may be required. Additional fees, conditions, restrictions and limitations may apply. Not all programs are available in all areas. The interest rate for adjustable rate mortgage loans is subject to increase. Privacy Policy • Safeguards Policy • Equal Housing Opportunity • Copyright 1998 - 2005 Hanover Mortgage Company. All Rights Reserved.