Lafayette Financial evaluates each loan on its own merits and prices each loan approval accordingly. The rates shown on our website are approximations of typical transactions only. Borrowers should not expect their loan request to be approved at exactly the rates, points, fees, and terms shown. The rates, fees, and APRs shown are to give our website visitors an idea of typical private money loan terms.
To receive a quote for your private money loan request we ask that you complete our online application form, or call us to go over your situation. We usually give you an answer over the phone within a day, sometimes the same day. Our goal is to let you know what the loan will cost you before you are required to pay for an appraisal. We use county assessor information and recent sales comparables information to estimate your property value. This is usually a very good estimate for residential property and the final appraised value does not vary much.
Some of the factors wieghing most heavily in our underwriting decisions are: LTV (loan-to-value ratio), property type, property condition, proprty location, borrower/property ability to make payments. There are other factors involved, but notice credit history is not a major factor.
Rates, points, and products are subject to change at any time without notice.
| Product |
Rate |
Point |
APR |
| 1st Mortgage* |
10.00% |
5 |
11.523% |
| 2nd Mortgage** |
12.50% |
5 |
13.900% |
| 3rd mortgage** |
14.00% |
10 |
17.000% | |
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Hard Money Rates
