The Process:
Golden Capital Group, Inc. is here to help you and your clients close more real estate transactions. Between our common sense underwriting approach and in house funding source – it’s never been easier. We offer the speed and flexibility you need to achieve more closings in a timely manner. Please review our website for more information on our underwriting procedures and loan terms:
Working with Golden Capital Group, Inc. is a simple 3 step process…
- Contact us directly via phone or email or fill out the loan inquiry form on the website. Once we’ve gathered the needed information regarding the borrower, property and details of the transaction we will issue a “Letter of Intent” within 2-3 hours.
- After we’ve issued the letter of intent and you’re ready to move forward, please submit the complete loan package via email or fax. If you don’t have an appraisal, we will order one at this time and have the borrower pay the appraiser directly. The final underwriting will be completed within 24 hours and the file will be ready for loan docs once the appraisal is completed.
- Loan documents will be sent to escrow for signing by the borrowers. Once they are received back from Escrow we can have them checked in and loan funded usually within 24 hours. Escrow will issue your broker check directly to your company.
Loan Programs:
Fix n’ Flip
- Loan Amounts up to $750,000
- Loan to Purchase up to 100%
- 6 Month Term (with option to extend)
- Interest Only
- Stated Income (all programs)
- Verified Assets (no seasoning)
- Non Owner Occupied Only
- Residential Only
- No Prepayment Penalty
- California Only
Buy n’ Hold
- Loan Amounts up to $1,000,000
- Loan to Value up to 80%
- 1, 2 and 3 Year Terms
- Interest Only
- Stated Income (all programs)
- Verified Assets (no seasoning)
- Non-Owner Occupied Only
- Residential Properties
- Commercial Properties
- California Only
Testimonials:
“I can give my highest recommendation to Golden Capital Group. They recently closed a REO purchase loan for my client, who was an investor with a great overall profile but had a recent short sale on his credit report. They were knowledgeable, fast, efficient and very easy to work with. I will definitely call them on my next hard money transaction.”
- James Williams, Bankers Home Funding
“I recently needed a cash out refinance loan for a self-employed client with a few credit issues on an investment condo in San Diego. Golden Capital Group had the loan program I needed and their service was great. The loan funded right on schedule and the client was very satisfied with the way the transaction went. I would recommend them to any loan broker looking for a good source for Private Money loans.”
- Lee Korengold, Geneva Financial / Markor Mortgage
“Thanks, you guys have been great in getting this all done so quickly. Very much appreciated and I hope to do business again in the future.”
- Paul Ferra, Coldwell Banker
Broker FAQ:
1. How is Golden Capital Group Licensed?
Golden Capital Group is licensed by the Department of Real Estate.
2. Do you fund the loans or do you broker them out to “Lenders”?
Golden Capital Group originates, underwrites and funds all of the loans “in-house”. The source of our funds is a privately held LLC that we manage as well. We do not broker any private money loans to other lenders.
3. Can you issue an approval letter?
Yes, once we have reviewed your loan scenario we can issue a Letter of Intent with-in 2 – 3 hours.
4. How much are your points and fees?
Points range from 2.5% – 5% of the loan amount. Fee’s are as follows: Processing and Underwriting $995.00, Loan Docs $495.00, Tax Service $150.00, Flood Cert. $14.00, Credit Report $12.00 or $19.50. In addition you’ll have Appraisal, Title and Escrow fees which vary per transaction.
5. What interest rates do you offer?
Our interest rates range from 9% – 12%. The interest rates range is dependent on Loan-to-Value, Credit and Collateral.
6. What are your turn around times?
After receiving a full package, we’ve closed loans in 3 working days, but our average turn around time is approximately 10 working days.
7. How do I submit a loan?
Before submitting a loan, we highly recommend calling us to review your scenario first. When it’s time to submit your loan you can email or fax it in. Please find our information on the “Contact Us” page of the website.