First Security Mortgage

First Security Mortgage

Real Estate

San Diego, California 39 followers

Need Funding & and Want to Close ASAP? Got a Client that Can't Qualify with Institutional Lenders? We're What You NEED!

About us

FIRST SECURITY MORTGAGE HOME LOANS, INC is a mortgage company based out of San Diego, California, United States. We have been family-owned and operated since 1972. Same name, same phone number - serving the entire state of California. Originating equity-based financing for owner-occupied, non-owner-occupied, and small commercial loans this entire time, we have amassed a fortune in experience. If you're a real estate agent looking for your next contact, give us a call at 858-565-4410 and we'll let you know what we're all about.

Industry
Real Estate
Company size
2-10 employees
Headquarters
San Diego, California
Type
Self-Owned
Founded
1978
Specialties
Hard-Money Lending, Equity-Based Lending, and Mortgages

Locations

Employees at First Security Mortgage

Updates

  • Hard Money Loans for Condominium Investments 🏢 Quick Funding for Competitive Markets Benefit: Hard money loans provide fast access to capital, allowing investors to act swiftly in competitive condominium markets. Why It Matters: When desirable units hit the market, traditional financing can be too slow. Hard money loans give you the edge. 📈 Financing Value-Add Opportunities Benefit: Use hard money loans to acquire and renovate condos, increasing their market value. Why It Matters: Strategic upgrades can boost rental income or resale value, maximizing ROI. 🔄 Flexibility with Unique Properties Benefit: Hard money loans are ideal for unconventional condo units or those requiring renovations that traditional lenders may avoid. Why It Matters: Get financing for condos in older developments or unique layouts that banks might overlook. ⏳ Bridge to Long-Term Financing Benefit: Use a hard money loan to secure a unit, then refinance with a conventional loan later. Why It Matters: Bridge loans offer flexibility, ensuring you don’t miss out on time-sensitive deals while waiting for long-term financing. ⚖️ Consider HOA Rules and Fees Consideration: Hard money loans typically exclude HOA dues and other condo fees. Pro Tip: Factor in all ownership costs to maintain cash flow throughout the project.

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  • Success Stories: Turning Around Investments with Hard Money Loans 🏚️ Fix-and-Flip Success Challenge: An investor found a distressed property but couldn’t secure traditional financing due to its condition. Solution: A hard money loan provided fast funding for the purchase and renovation. Outcome: The investor sold the property within six months for a significant profit, using the proceeds to expand their portfolio. 🚪 Exiting a High-Interest Loan Challenge: A real estate developer was struggling with high-interest debt on a commercial property. Solution: The developer refinanced with a hard money loan, securing lower payments and buying time to complete the project. Outcome: The property was sold at a higher value, clearing the loan and earning a profit. 🔄 Turning a Foreclosure into Profit Challenge: An investor acquired a property in foreclosure but needed quick funding to finalize the purchase. Solution: A hard money loan enabled the investor to complete the transaction without delay. Outcome: After a quick renovation, the investor flipped the property, achieving a 40% return on investment. 🏢 Expanding a Portfolio Quickly Challenge: A seasoned investor wanted to take advantage of multiple market opportunities but lacked immediate capital. Solution: Hard money loans provided the flexibility to secure several properties simultaneously. Outcome: The investor successfully diversified their portfolio and built additional cash flow streams from rental properties.

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  • Hard Money Lending: Understanding the Fine Print 📑 Prepayment Penalties Some hard money loans include penalties for paying off the loan early. Tip: Check if there are prepayment penalties and calculate if paying early is still cost-effective. 📊 Interest Rate Structure Loans may have fixed or adjustable rates. Tip: Ensure you understand how your interest payments may change over time, especially with adjustable-rate loans. 🔄 Loan Extension Options Short-term loans may offer extensions, but often at a cost. Tip: Confirm if extensions are allowed and what fees or terms apply if your project takes longer than expected. 💵 Points and Fees Upfront fees, also called “points,” can increase borrowing costs. Tip: Negotiate points and make sure they align with your overall financial strategy. 🏚️ Default Clauses Default clauses outline the lender’s rights if you miss payments. Tip: Familiarize yourself with these clauses to avoid unexpected penalties or property seizure. 📆 Balloon Payments Some loans require a large lump-sum payment at the end of the term. Tip: Plan ahead for balloon payments by securing an exit strategy, such as refinancing or selling the property.

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