Karpe Real Estate Center

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.

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%

Loan Terms

6 months to 60 months

Origination Fees

2% to 10%

Lien Position

1st

What we do:

Central California Only

Rehab Fix & Flip or Hold

Ground-Up Construction

Owner Occupied Homes

Seller Financing Allowed up to 90% CLTV

What we don’t consider:

100% Financing

Agricultural Properties

Cannabis-Use Properties

Land, except with additional collateral

Credit Check Required

Prepayment Penalty

yes

Typically 3 months at 1% of the loan amount

Typical Closing Time (Days)

Maximum Leverage

Purchase Short-Term (no Value-Add)

Max LTP Residential: 70%

Max LTP Multifamily: 70%

Max LTP Commercial: 70%

Max LTP Land: 50%

Max CLTP Mezzanine: 70%

Max CLTP Pref Equity: 70%

Purchase Long-Term

Max LTP Residential: 70%

Max LTP Multifamily: 70%

Max LTP Commercial: 70%

Refinance Short-Term (no Cash Out)

Max LTV 1st Lien Residential: 70%

Max LTV 1st Lien Multifamily: 70%

Max LTV 1st Lien Commercial: 70%

Max LTV 1st Lien Land: 50%

Refinance & Cash Out Short-Term

Max LTV 1st Lien Residential: 65%

Max LTV 1st Lien Multifamily: 65%

Max LTV 1st Lien Commercial: 65%

Max LTV 1st Lien Land: 40%

Refinance Long-Term

Max LTV Residential: 70%

Max LTV Multifamily: 70%

Max LTP Commercial: 70%

Residential Fix & Flip

Max LTP: 70%

Max LTC: 80%

Max LTARV: 65%

Residential Rehab & Hold

Max LTP: 70%

Max LTC: 80%

Max LTARV: 65%

Multifamily Value-Add

Max LTP: 70%

Max LTC: 80%

Max LTARV: 65%

Commercial Value-Add

Max LTP: 70%

Max LTC: 80%

Max LTARV: 65%

Residential Construction

Max LTC: 80%

Max LTCV: 65%

Multifamily Construction

Max LTC: 80%

Max LTCV: 65%

Commercial Construction

Property Types

2-4 Units Residential
Auto Dealership
Auto Repair
Car Wash
Commercial Condominium
Condominium
Gas Station
Gym
Industrial
Manufactured Home
Mixed-Use
Mobile Home
Motel
Multifamily
Office
Portfolio of Commercial Properties
Portfolio of Residential Properties
Residential Land
Retail
Single Family Residence
Storage Facility
Student Housing

Loan Types

Private Money
Hard Money
Residential Bridge
Residential Fix and Flip
Residential Rehab and Rent
Residential Ground-Up Construction
Residential Long-Term Rental
Residential Owner-Occupied
Commercial Bridge
Commercial Property Value Add
Commercial Ground-Up Construction

Specialty Loan Types

Commercial Permanent Financing
Note Purchase
Partner Buyout
Primary Residence Business Purpose Cash Out
Residential Long-Term Rental
Residential Non-Prime
Residential Short-Term Rental
Reverse 1031 Exchange
Vacation Rental

Borrower must have the property under contract. We allow subordinate financing (seller financing or gap funding in 2nd position), but the Loan To Value percentage is subject to change. Borrower must contribute at least 10% cash. Wrap Loans, where additional collateral is used to maximize loan amount, is allowable. 2nd property is preferably free and clear, however properties with at least 40% equity are considered. 6 month to 60 month loans available. Interest only or amortized over 30 years. Interest only max 36 months. 3 month prepay penalty of 1% of the loan amount. Personal Guaranty required. Impounds may be required. Formal appraisal may not be required.

Max Loan-to-Purchase Price

70%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

Allowed Source of Borrower’s Equity

Own Cash
Partner
Equity in Subject Property
Equity in Another Investment Property
Equity in Primary Residence
Seller Financing
Gap Lender
Crowdfunding
Family

We will consider all rehab projects. Appraisal is required. 3rd party funds control is required. Interest is charged on the whole loan, not draw amount. Lender may finance the full renovation cost dependent on LTARV, work breakdown, and cost. 30% down payment on purchaser price is required at the start of the project. 1 year interest only terms. Course of Construction Insurance required. Personal Guaranty Required. Taxes and Insurance will be paid for the term at close of escrow. No prepayment penalty.

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

80%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

Maximum After Repair Value

65%

Vertical only. We do not fund the land purchase, and Land must be free and clear at close of escrow. Appraisal and 3rd party funds control required. Course of construction insurance required. 1 year interest only terms required. Interest is charged on the whole loan, not draw amount. Lender may finance the full construction cost dependent on LTARV, work breakdown, and cost. Personal Guaranty required. Taxes and Insurance paid for the term at close of escrow. Additional point added to fees for management of draws.

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

Max LTC for Ground-Up Construction Costs

80%

Interest Charged for Construction Costs

Entire Amount of Total Project Costs

Will Lend on Partially Completed Construction Projects

1-4 Unit Single Family, or 5+ unit multifamily. 6 month to 60 month terms. Amortized over 30 years or interest only. Interest only loans with a max of 36 months. Appraisal not required on some loans. Impounds on Taxes and Insurance required. 3 month prepay penalty of 1% of the loan amount. Personal Guaranty Required.

Minimum Loan Amount

$30,000

Maximum Loan Amount

$2,000,000

Minimum Interest Rate

10.50%

Maximum Interest Rate

15.00%

Minimum Origination Fee

Maximum Origination Fee

10%

Minimum Loan Term

6 months

Maximum Loan Term

60 months

Maximum Loan-To-Value

70%

Maximum Loan-To-Purchase

70%

Seasoning Time

1 months

Minimum Debt Service Coverage Ratio

1.00

Maximum Debt-to-Income Ratio

50%

Minimum Credit Score

600

Will Lend on a Portfolio of Properties

Yes

Minimum Number of Properties

Maximum Number of Properties

Minimum Property Value

$30,000

Maximum Property Value

$5,000,000

5+ unit multifamily. 6 month to 60 month terms. Amortized over 30 years or interest only. Interest only loans with a max of 36 months. Appraisal not required on some loans. Impounds on Taxes and Insurance on case by case basis. 3 month prepay penalty of 1% of the loan amount. Personal Guaranty Required.

Minimum Loan Amount

$30,000

Maximum Loan Amount

$2,000,000

Minimum Interest Rate

10.50%

Maximum Interest Rate

15.00%

Minimum Origination Fee

Maximum Origination Fee

10%

Minimum Loan Term

6 months

Maximum Loan Term

60 months

Seasoning Time

1 months

Minimum Debt Service Coverage Ratio

1.00

Minimum Credit Score

600

Maximum Number of Units

6 month to 60 month terms. Amortized over 30 years or interest only. Interest only loans with a max of 36 months. Appraisal not required on some loans. Impounds on Taxes and Insurance on case by case basis. 3 month prepay penalty of 1% of the loan amount. Personal Guaranty Required.

Minimum Loan Amount

$30,000

Maximum Loan Amount

$2,000,000

Minimum Interest Rate

10.50%

Maximum Interest Rate

15.00%

Minimum Origination Fee

Maximum Origination Fee

10%

Minimum Loan Term

6 months

Maximum Loan Term

60 months

Seasoning Time

1 months

Minimum Debt Service Coverage Ratio

1.00

Minimum Credit Score

600

Maximum Number of Units

Will lend on owner-user properties

Yes

Appraisal Fee

If Appraisal Required

Renovation Construction Draw Fee

$Set by 3rd Party Funds Control

Minimum Origination Fee Amount

$2,000

Other Fee

Full list of fees available upon request. Some fees may not be listed here.

Fees which are mandatory for all new borrower clients

Underwriting Fee
Multi-Purpose Lender Fee
Processing Fee
Funding Fee
Settlement Fee
Appraisal Fee
Inspection Fee
Escrow Fee
Title Fee
Credit Report Fee
Extension Fee
Renewal Fee
Renovation or Construction Funds Draw Fee
Other Fee

Fees which are paid to a third party company

Documents Fee
Appraisal Fee
Inspection Fee

Details and Requirements

Fastest Closing Time (Days)

Payment Structure

Interest Only
Amortized
Interest Reserve

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 Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

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

Personal Guaranty (Recourse) Required

Always

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

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.

Contact Karpe Real Estate Center

Karpe Real Estate Center pays us to be listed, so there is no fee to connect with them directly.

661-481-XXXX

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Founded in 1926, Karpe Real Estate was one of the first home building companies in Kern County, located in the Central Valley of California. Through the years, Karpe has modernized and now offers a multitude of real estate services but mainly focuses on Private Money Lending. Acting as trustee, we service approximately $100,000,000 worth of investments, and have a stable of reliable investors. We are a full service company, originating the loan, servicing the loan, and closing loans on the backend when they are paid off. Borrowers deal with our staff directly, and we can guide them through the private money loan process.

When Banks Say No, We Say YES!