American Home Loan Mortgage Corporation makes Private Money/Mortgage Loans. We lend $50,000 to $3,000,000, with a Maximum Loan to Value of 70%. Our Private loans have a Term of 1 to 3 years, and the interest rates vary from 8.99% to 12% based upon the Real Estate being used as collateral and Loan to Value. We lend on the following types of Property: Single Family, Multi Family, Commercial, Industrial, Shopping Centers, Office Buildings and Apartment Buildings. We do not lend on Owner Occupied primary residences nor do we typically lend on Vacant land, but we do lend on Land as bridge financing if being developed in the immediate future. Qualification is an easier process, as the property is large factor in the loan approval process. We still require documentation from the borrower, as we need to document that the borrower has the ability or a plan of repayment for the future when the loan comes due.
On our Priovate Loans, we are typically able to Underwrite within 48 Hours of receiving a full loan application, and able to close within two weeks. Yes we are aware that other companies state they can close within days, and yes that is possible if all Title work, Surveys, Insurance and Title searches are back and clear to be able to prepare the closing documents. This does not usually occur.
Call or email us today to review your needs and we will let you know if we are able to help you.