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We
originate trust deed
investments in California on
behalf of our investors
and invest in real
estate in which the
loan does not exceed
70% of the property
value (70% LTV).
Our
borrower clients are
in need of hard money
loans across the state
of California for both
the purchase and refinance
of owner-occupied and
investment properties,
as well as commercial
properties and land
loans. All client and
property credentials
are carefully screened
and processed to ensure
your utmost confidence.
A 1st, 2nd, or 3rd
Trust Deed, Promissory
Note, and Title Insurance
in your name secure
all loans, with property
valuations by appraisal
or strongly documented
comparable sales at
your discretion.
There
are numerous scenarios
and reasons for our borrower
clients need for private
money. We do our best
to ensure in advance
that borrowers are able
to repay your loan per
your terms before submitting
the file to you for consideration.
Any available cross-collateralization
of other real estate
is presented and considered,
as are liquid and hard
assets which may be pledged
as collateral for loans.
Our
Typical Loan Investment
Profiles
Hanover
Mortgage Company targets
borrowers in need of
fast, non-conforming
loans secured by 1st,
2nd and 3rd trust deeds.
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Property
Types Loaned Against:
- Residential
properties valued at
$250,000+ in marketable
areas of both southern
and northern California,
both owner-occupied and
investment properties;
primarily Single Family
homes.
- 5-unit
to 100-unit apartment
buildings
- Income
Producing Commercial:
office, retail, manufacturing,
warehousing
- Residential
and commercial construction
lending (with pre-scheduled
disbursements according
to work progress)
Yields
- 8.00-12.00%
(plus pre-payment penalty,
when applicable) depending
on property type, use,
and applicable laws. Lower
required yields will
result in more investment
opportunities.
Loan
Amounts
LTV/CLTV
1st
Trust Deeds
- Residential,
owner-occupied, purchase:
70%, high to 80% welcomed
- Residential,
owner-occupied, cash-out
refinance: 70%, high
to 80% welcomed
- Residential,
non-owner-occupied, purchase:
70%, high to 80% welcomed
- Residential,
non-owner-occupied, cash-out
refinance: 65%, high
to 75%+ welcomed
- Multi-Family
and Commercial, purchase:
65%, high to 75% welcomed
- Multi-Family
and Commercial, cash-out
refinance: 65%, high
to 75% welcomed
- Land,
vacant, zoned R residential:
65%, up to 75% welcomed
- Land,
vacant, zoned AG agricultural:
50%, up to 65% welcomed
- Land,
vacant, raw, miscellaneous:
50%
- Land,
commercial zoning, vacant:
50%, up to 65% welcomed
2nd & 3rd
Trust Deeds
- To
65% CLTV, residential
and commercial structures,
case-by-case. Up to 75%
CLTV welcomed
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