Nationwide Mortgage
San Jose, California
NMLS 32417, CA DRE BROKER 01247594, FL MBR2347, VA MC-5843, WA MB-32417
Private Lending and Hard Money Mortgages for Real Estate Investors Nationwide
Bridge | Fix & Flip | Ground-Up Construction
We specialize in Hard Money financing which is also referred to as Private Lending. These equity based loans can often offer features that banks can not in terms of:
- Speed of funding
- Flexibility with documentation
- Higher leverage
- Lower Credit Scores
- Less Cash required
These are usually short-term bridge loan, 12 – 24 months, that are used for
- Acquisitions
- Cash out
- Increase cash flow
- Buy more properties
- Payoff an existing mortgage that may have a balloon payment due or has become delinquent
- Expand your business
- Pay off tax liens
- Renovation or Construction Loans
- Rehab or renovate an Residential Investment Property or Commercial Building.
- Build an individual Building or an entire development project, from the ground up
Nationwide is the right lender if you are looking for:
- Fast, hassle-free funding
- Experienced team with decades of experience
- Personalized service
- A team that cares
Property Geographic Area Details
Loan Amounts
Interest Rates
Loan Terms
Origination Fees
Lien Position
Fix & Flip
Up to 100% Loan-to-Purchase & 100% of renovation costs.
In order to get 100% Loan-to-Purchase your Acquisition cost can be no more than 65% of the ARV. And then after successful completion of a deal you could be promoted to a 70% ARV on your next transaction.
Example:
$1,000,000 Acquisition Price.
$1,550,000 After Repair Value
ARV x .65 = $1,007,500 which would support a $1,000,000 advance for the acquisition.
Term: 9 months. Interest Rate starts at 10% Interest-Only. Interest will only be charged on the outstanding principal balance of the loan.
Repair Budget: This is a low to moderate repair program. As such, the repair budget on any
given transaction is typically less than or equal to 30% of the Total Loan Commitment.
Maximum Transaction: $1,250,000 (Purchase & Repairs)
Bank Statement: A current bank statement on each Borrower. $30,000 min required for each loan approval.
Credit Report: Minimum credit score of 620. Authorization is required from the Borrower to make a soft inquiry or “soft pull” which will not affect the Borrower’s credit score.
Loan Criteria Collateral: Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes: 5+ Unit Apartments; Mixed-Use Properties
Low Rate and Cost Program:
Minimum and Maximum Loan amount: $100,000 – $10,000,000
Loan to Acquisition: 80%
Term: 12 Months
Rates: As low as 7.99%
Points: Min 1 point based on loan amount.
Credit Score: Min 380
ARV: Maximum loan to After Repair ratio is 70%
Bridge Loans
Minimum and Maximum Loan amount: $100,000 – $10,000,000
Loan to Acquisition: 80%
Term: 12 Months
Rates: As low as 7.99%
Points: Min 1 point based on loan amount.
Credit Score: Min 680
Construction Loans
Minimum and Maximum Loan amount: $100,000 – $10,000,000
Loan to Acquisition: 80%
Term: 12 Months
Rates: As low as 8.5%
Points: Min 1 point based on loan amount.
Credit Score: Min 680
Experience Required: Yes
Some states prohibited. Call for details.
Property Types
- 2-4 Units Residential
- Adult Day Care
- Assisted Living Facility
- Auto Repair
- Bed and Breakfast
- Cannabis Dispensary
- Cannabis Grow Facility
- Car Wash
- Commercial Condominium
- Community Center
- Condominium
- Gas Station
- Hospital
- Hotel
- Industrial
- Manufactured Home
- Mixed-Use
- Mobile Home
- Mobile Home Park
- Motel
- Multifamily
- Office
- Place of Worship
- Portfolio of Commercial Properties
- Portfolio of Residential Properties
- Rehabilitation Facility
- Religious Facility
- Retail
- School
- Senior Housing
- Single Family Residence
- Sports Facility
- Storage Facility
- Student Housing
- Theater
- Winery
Loan Types
- Residential Fix and Flip
- Residential Long-Term Rental
Specialty Loan Types
- 2nd Mortgage Equity Cash Out
- 3rd Mortgage Equity Cash Out
- Cannabis Use Properties
- Commercial Permanent Financing
- Condo Conversion
- Foreclosure Bailout
- Land Development
- Line of Credit Portfolio of Properties
- Line of Credit Single Property
- Note Purchase
- Partner Buyout
- Primary Residence Bridge
- Primary Residence Business Purpose Cash Out
- Residential Long-Term Rental
- Residential Non-Prime
- Reverse 1031 Exchange
Junior Lien Loan Amounts
$75,000 to $100,000
Junior Lien Interest Rates
8% to 12%
Junior Lien Loan-to-Value
65%
Junior Lien Loan-to-Cost
70%
Junior Lien Origination Fees
2% to 5%
We Fund Junior Position Loans
Often
Junior Lien Types
- Purchase
- Refinance
- Equity Cash Out
Max Loan-to-Purchase Price
90%Borrower Must Have Property Under Contract
noWill Provide Proof of Funds Letter
noWill Consider Lending on Purchase from Auction
noAllowed Source of Borrower’s Equity
- Own Cash
- Equity in Another Investment Property
- Equity in Primary Residence
- Family
Minimum Loan Amount
$100,000Maximum Loan Amount
$3,000,000Minimum Interest Rate
3.875%Maximum Interest Rate
5%Minimum Origination Fee
1%Maximum Origination Fee
2%Minimum Loan Term
36 monthsMaximum Loan Term
360 monthsMinimum Debt Service Coverage Ratio
1.00Will Lend on a Portfolio of Rentals
YesMinimum Number of Properties
2Maximum Number of Properties
52Minimum Property Value
$150,000Maximum Property Value
$1Documents Fee
Some loans require a loan docs fee, and the fees vary.
Escrow Fee
Most loans will be settled by escrow or a settlement agent and will have this fee.
Title Fee
Most loans will have title insurance.
Appraisal Fee
Fee paid directly to appraiser or company providing a broker price opinion.
Fees which are paid to a third party company
- Documents Fee
- Appraisal Fee
- Escrow Fee
- Title Fee
Nationwide Mortgage Testimonials
Highly Recommended
"Nationwide was unbelievable! The attention to detail and personable agents made the experience seamless. They walked me through the process and were always available, which was something that was important to me. They explained step by step what would happen and would update me consistently from start to finish. Highly recommend them!"
Adrien
Miami, Florida
Nationwide did an excellent job
"From beginning to end, Nationwide did an excellent job. They kept us updated on all that was going on, and our broker, Noelle Wheeler , was extremely knowledgeable. I would definitely use Nationwide again. Reference: Better Business Bureau "
Robert L
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Why Nationwide?
Established – 1997
Funded to Date – $5+ billion funded
Closed Loans – 10,000+
Experience: We have been around for over 20 years and have seen a thing or two. There is no substitute for Experience.
Programs: Some companies only have a limited credit box. If you don’t qualify for those programs then you need to start over. For example, some Borrowers have come to us thinking they needed a Private or Hard money loan, and we were able to get them a Non-Prime product with much better terms. Options are always good to have.
Service: We strive to treat every Borrower the way we want to be treated. Under-promise and always over-deliver. By harnessing the latest technology & skills from a talented team, nothing beats that.
Office Locations
1963 O'Toole Way, Suite 200, San Jose, California 95131Our Team
Noelle Wheeler
President & Broker
NMLS ID - 32388
CA DRE Broker - 01125188
Florida MLO - LO29466
Virginia MLO - 6266VA
Washington MLO - 32388
Susie
Bassirpou
NMLS ID - 1998306
California DRE Salesperson - 01392454
Florida Originator - 100102
Washington Originator - MLO-1998306
Get In Touch
Stay Informed About Private Lending
Our Minimum Loan Amount Is
$100,000
What We Do
- Fix and Flip
- Bridge Loans
- Construction
Not Available
- No Land Loans
- No Rural Locations
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