Los Angeles, CA -- (SBWIRE) -- 05/10/2012 -- California hard money lender Maggio Capital is pleased to announce that they are now offering first trust deed interest rates as low as 7.99 percent. Maggio Capital engages in the underwriting and funding of short-term real estate loans that are secured by first trust deeds on properties located in California only.
For many Californians seeking a hard money loan or other property loan from banks to purchase, rehab or refinance a property can be frustrating and often fruitless. Today, many people are discovering that Del Mar, California-based hard money lender Maggio Capital is a far better alternative for fast, convenient financing solutions without the red tape. Right now, the hard money California lender is offering first trust deed interest rates that begin as low as 7.99 percent. “By offering rates from 7.99 percent, our investors are still able to yield an attractive secured return, while qualified borrowers can take advantage of historically low hard money rates,” said Maggio Capital President Carl Maggio.
Increasingly, borrowers and brokers are turning to Maggio Capital for the most competitive rates in the industry. Additionally, the CA hard money lender has no credit score requirements. Unlike institutional banks or lending outfits, they are concerned exclusively with the amount of equity in the property and the borrower’s ability to service the debt and repay the loan. The well capitalized lender is funded through private individuals and sources looking to diversify their portfolio by investing in real estate. “As a small company, we have no corporate hierarchy, which gives us the ability to make quick decisions and fund on time,” said Maggio.
A California hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Maggio Capital lends on non-owner-occupied properties in California only with short-term solutions for loans up to $1,000,000. To mitigate risk, they require a significant amount of cash or equity position in the property from the borrower. The loan-to-value ratio cannot exceed 60 percent, and the loan term is 12 months. For more information, please visit http://www.maggiocapital.com/
About Maggio Capital
Maggio Capital engages in the underwriting and funding of short-term real estate loans that are secured by first trust deeds on properties located in California only. The Del Mar, California-based lender offers loan solutions for up to $1,000,000. Maggio Capital bases investment requirements on equity in the property being purchased or refinanced, the borrower’s ability to service the debt, and a realistic exit strategy at maturity. The well capitalized lender is funded through private individuals and sources looking to diversify their portfolio by investing in real estate.