California, Colorado, Florida, Georgia, Hawaii
Property Geographic Area Details
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Loan Mac, Inc.
Los Angeles, CA
CA DRE Broker Lic. 02116692
$30,000 to $800,000
Loan Amounts
9.99% to 12.99%
Interest Rates
6 months to 24 months
Loan Terms
1% to 3%
Origination Fees
1st, 2nd
Lien Position
About Loan Mac
LoanMac offers a unique junior lien private lending solution to help property owners cash out equity for short-term needs. We pride ourselves on speed. Most of our loans close in a matter of days, with minimal paperwork and in-house valuations.
- Lending in 5 states only: CA, CO, FL, GA, HI
- Almost all types of property considered, including land
- Up to 75% Combined Loan-to-Value for improved property
- Up to 50% CLTV for land and ag properties
- In-House Valuations (appraisals only done if borrower disputes our valuation)
- Credit scores as low as 600 accepted; lower credit score results in lower LTV
- Brokers Protected (most of our business comes from brokers)
- Loan proceeds must be used mostly for business or investment purposes
Please note: we do not offer loans for consumer purposes or ground-up construction projects.
What we do:
- 2nd Mortgages
- Business-Purpose Loans
- Residential Properties
- Commercial Properties
- Land and Ag Properties
- In-House Valuations
- Up to 75% CLTV
What we don't consider:
- Consumer-Purpose Loans
- Ground-Up Construction Loans
- Loans based on ARV
- Cannabis-Use Properties
yes. Minimum FICO score is 600, and the score is closely related to the maximum loan-to-value we would offer.
Credit Check Required
no
Prepayment Penalty
7
Typical Closing Time (Days)
Our Team