1. |
All
Investments are NEW LOAN
ORIGINATIONS. We broker
hard money loans to individual
investors interested in
making private real estate
loans to our borrowers
on different property types
in California, and occasionally
elsewhere. A Note and 1st,
2nd, or 3rd Deed of Trust
secure these loans. |
2. |
We
are not a financial source
or resource for real estate
investors looking for advance
private funding for foreclosure
sale property purchases
or discounted real estate
for sale, nor for venture
capital funding for speculative
real estate investing.
A valid purchase contract
signed by both buyer and
seller is required for
consideration of a hard
money purchase loan. |
3. |
We
are not a "Note
Broker" – we
do not buy or sell Notes
on CA real estate. |
4. |
The
majority of our borrower
clients are individual
property owners with 25%
or more equity or stake
in real estate, but has
poor credit or non-documented
income and cannot qualify
for conventional financing.
In some cases, our clients
are less credit challenged
but are seeking private
money as a more expedient
route to their available
equity and require faster
turnaround than conventional
lenders can provide. In
other cases, our private
money loans are used for
commercial bridge money
for different purposes. |
| 5. |
Title to the
properties we arrange loans
for may be vested in individuals,
LLCs, corporations, or trusts. |
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| 6. |
ALL
hard money loans must comply with
state and federal anti-predatory
lending laws as they relate to
owner-occupied property and covered
loan limits. Also, and
in accordance with real estate
law as it relates to owner-occupied
property loans, we do not arrange
loans for clients who do not have
the ability to repay the obligation,
nor will we broker loans that are
not in the best interest of the
client, regardless of the investor's
willingness to lend, as we have
primary fiduciary responsibility
under the law to the client. |
| 7. |
The
properties we broker trust deed loans
on are owner-occupied homes, 2nd
homes, vacation properties, raw and
improved land, and commercial real
estate, including retail, mixed-use,
offices, apartments, and industrial
properties. Our loans include purchase
money loans, refinance loans, construction
loans, and rehab ("fix-and-flip")
loans on CA real estate. We do not broker
unsecured business loans or personal
loans. |
| 8. |
Hanover
Mortgage Company is NOT an investment
company or Real Estate Investment
Trust - we are a CA licensed real
estate mortgage broker that originates
privately funded real estate loans
in addition to a wide variety of
other conventional and non-conventional
residential and commercial real estate
loans - primarily in CA. |
| 9. |
We
do not "pool" investors
or investments. We do
not produce any literature or a
prospectus on our services or trust
deed investments, nor do we act
as a property information service,
your investment advisor, your legal
counsel, or as instructors with
regards to real estate trust deed
investments. If you entirely unfamiliar
with investing in real estate trust
deeds, you may wish to instead
consider investing in a publicly
traded Real Estate Investment Trust
("REIT), available from any
number of investment brokers, or
otherwise wait to invest until
you have the necessary education
and legal advice you'll need in
order to successfully delve into
investing in trust deeds, as these
are not a "no-risk" investment. |
| 10. |
Our broker fee for
hard money loans vary from 1 to 10
points depending on the transaction
type and amount. Again, all loans must
still comply with maximum APR lending
laws. |
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