Private Money for Central California Real Estate
Karpe Real Estate Center is based in Bakersfield, Kern County, California. We have been funding and servicing private money (hard money) mortgage loans secured by real estate since 1926. As a direct private money (hard money) lending company, we specialize in a variety of lending solutions.
- Residential, Multifamily, Commercial Properties
- Purchase, Rate and Term Refinance, Cash Out Refinance
- Rehab Fix & Flip or Hold
- Ground-Up Construction
- Owner-Occupied Homes
While investment/business purpose loans are preferred, we can offer owner occupied loans on Single Family Residential properties.
Our rates are competitive with other private money lenders in the Central Valley, and we can offer quick close scenarios. There are no due diligence or upfront fees, and we provide same day approval. We separate ourselves from the competition through our knowledge and experience of the private money loan process, and the unique problems presenting themselves in all forms of real estate.
Please Note: We do NOT offer loans for agricultural or cannabis-use properties.
Common Loan Scenarios
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Central California Only
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Rehab Fix & Flip or Hold
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Ground-Up Construction
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Owner Occupied Homes
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Seller Financing Allowed up to 90% CLTV
Scenarios Not Considered
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100% Financing
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Agricultural Properties
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Cannabis-Use Properties
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Land, except with additional collateral
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Junior liens (2nd liens or lower in priority)
Details and Requirements
Property Geographic Area Details
Central California - Bakersfield, Fresno, Central Valley, Stockton, Sacramento
Loan Amounts
$30,000 to $2,000,000
Interest Rates
10.50% to 15.00%
Origination Fees
2% to 10%
Loan Terms
6 to 60 months
Prepayment Penalty Details
Typically 3 months at 1% of the loan amount
Typical Closing Time (Days)
14
Fastest Closing Time (Days)
5
Payment Structure
- Interest Only
- Amortized
- Interest Reserve
Personal Guaranty (Recourse) Required
Always
Borrower Entity Types Considered
- Individual(s)
- LLC
- Limited Partnership
- Trust
- Corporation
- Non-Profit Corporation
- Self-Directed IRA
Documentation Required
- Credit Report
- Tax Returns
- Bank Statements
- Financial Statements
- Loan Application
Appraisal Required for Residential Property
Sometimes
Appraisal Required for Commercial Property
Sometimes
Broker Price Opinion (BPO) Accepted for Residential Property
Sometimes
Broker Price Opinion (BPO) Accepted for Commercial Property
Sometimes
Will Consider Collateralizing Multiple Properties in One Loan
yes
Will lend to a foreign national
yes
Must have an ITIN number
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
yes
Will Consider Equity Joint Venture
no
Collateral Types
- Residential Property
- Commercial Property
Loan Purpose
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Use Equity to Invest in Another Property
- Invest in a Business
- Business Working Capital
- Value Add Project
- Development Project
- Primary Residence Purchase
- Personal Use
Property Occupancy
- Vacant
- Tenant Occupied 100%
- Tenant Occupied Partial
- Owner Occupied Commercial
Legal Disclaimer
All deals considered on a case by case basis. Above terms are not a commitment to lend. Final determination and deal approval made by underlying lenders and trustee. Investments in trust deeds secured by one or more interests in real property are subject to risk of loss.
Our minimum loan amount is $30,000