Address: 16055 SW Walker Rd #247, Beaverton, OR 97006
States They Lend In: Oregon, Washington, Alaska, California, Colorado, Florida, Idaho, Georgia, Montana, Oklahoma, Texas, Nevada, New York, Wyoming
Fairfield Financial Services, Inc. (NMLS number 260898) has been coordinating hard money loans in the Pacific Northwest (Oregon and Washington) since 1964. Our services have recently expanded to include Alaska, California, Colorado, Florida, Idaho, Georgia, Montana, Oklahoma, Texas, Nevada, New York, and Wyoming. We now have sources available to lend, with no maximum, on commercial loans in all 14 of our States. We feel that hard money lenders are an important alternative for many who own, buy, and invest in property and real estate projects. Our mission is to offer a full range of private money options to our clients--both borrowers and investors--and to do so in a sincere and professional manner. We believe that good business is about building relationships.
We have made loans on commercial properties of all types, including office buildings, retail buildings, mixed use, restaurants, taverns, motels, car lots, gas stations, mini-storage, malls, industrial properties, and multi-family residential. 75% is generally our maximum LTV.
Renovation Loans / Rehab Loans
We have worked many times with investors who buy fix-up properties and re-sell. We can generally loan up to 75% of the projected value of a project. In many situations, we can arrange for the financing of the renovation budget as well.
Bridge Loans - as short as 3 months
Many of our borrowers need short-term solutions, without painful pre-payment penalties. We recognize that private-money is often a short-term solution, and strive to offer reasonable solutions for borrowers needing the money for as little as 3 months.
A common scenario for us is a borrower that might be relying on a seller to do a partial carry-back, with our lender going in first position. In this case, the borrower may be coming to escrow with little or no down payment, or in fact, may be pulling cash out of escrow. In these scenarios, we can obtain financing up to 75% LTV and a maximum of 120% CLTV.
REO Property Acquisition Loans
Lately, we have had a number of borrowers come to us in search of financing to purchase REO properties. We can generally loan up to 75% of the current or projected value of a project, and sometimes 100% of the purchase price. We have frequently worked with buyers of discounted HUD properties, and know the process for getting these transactions closed.