Funding For When Banks Come Up Empty
At First Financial Capital, we strive to provide real estate buyers and business owners with an alternative, reliable, and most importantly, a fast funding solution for whenever opportunity arises. While the majority of commercial real estate financing in Los Angeles is done through banks, the approval process is often lengthy, and is by no means a guarantee, even for legitimate loan candidates. There are a variety of factors that may get in the way during a traditional bank underwriting process, including credit, pre-existing mortgages, the requested loan-to-value ratio, and the overall risk associated with the property. First Financial Capital recognizes these factors, but works one-on-one with each prospective borrower to determine their true ability to repay a loan, beyond simple numbers on a page. Even more, when borrowers requesting anything from a bridge loan to vacant building financing in Los Angeles are approved, they benefit further from First Financial Capital’s extremely favorable loan terms. These include:
- High LTV – For many borrowers, getting a high loan-to-value ratio for their bridge loans in Los Angeles is absolutely vital for the completion of the new acquisition. We have been able to provide past borrowers with an LTV as high as 80 percent, enabling them to close on the property with very little of their own capital.
- No Prepayment Penalties – Borrowers can save on future interest payments that they can put towards the growth of their business, because we allow borrowers to pay the loan off as soon as they are able without pre-payment penalties.
- First Year Interest Only Option – Alternatively, for borrowers for whom money is tight during the early stages of the loan repayment period, we offer them the option of making only the interest payments during the first year of the loan term. (Broker license number: CA DRE 01523939)