Welcome to First Security Mortgage
First Security Mortgage is a family owned and operated home equity lender that has been arranging private money loans for San Diego residents since 1972. You can trust us with your hard money loan needs for homes, condos, units and commercial buildings. We are committed to our clients and look forward to getting the chance to work with you!
I own my own business and when my wife and I got our offer accepted on a property in Carmel Valley we were elated. Three weeks into the escrow I was notified that even though we have perfect credit our loan was not going to be able to close by…Read More→
"More than just a source for money, but one in need, makes a friend indeed." We met Paul through a mortgage broker who knew we needed to obtain funds in short order to close on two adjoining condominiums in Mission Beach. Given that these properties were a 2nd home and…Read More→
I would like to highly recommend First Security Mortgage in Sorrento Valley. I certainly read comments that other people make about their experiences with a business, but rarely take the time to offer my own. I remember reading those positive comments about FSM…before calling in. My experience with this company…Read More→
About First Security Mortgage
We at First Security Mortgage pride ourselves on our ability to get clients the right loan that fits their needs while providing outstanding customer service throughout the entire process. We are a direct lender providing hard money loans, so there is no go-between or third party to deal with or to slow down the process. All our hard money programs are underwritten in-house and funded by us. When you work with First Security Mortgage to obtain your hard money loan, you are working directly with the lender from start to finish. Begin your loan process today! Request a free personalized rate quote now. Our hard money mortgage advisors are standing by.
Real Estate Investor Services
As a direct private money lender, we provide a variety of services meant to meet the needs of real estate investors within the state of California. That includes flexible loan terms, which meet the needs of investors looking to expand their ability to acquire new properties.
Here are a few of the services that we can provide you as an investor:
- FLEXIBLE TERM TYPES – Interest only or partially amortized loans with low monthly payments, giving you the flexibility to invest in other properties with your cash. If you want to lower the principal at a faster pace, First Security Mortgage gives you the option of making additional payments, over and above the monthly interest payments, in any amounts of your choice.
- FLEXIBLE TERM LENGTHS 6 MONTHS TO 7 YEARS – Our loans have no prepayment penalties, and unlike most all other private or hard money lenders, our terms go up to 7 years! This gives you lots of flexibility to keep the loan as short or as long as you need to, without being under the pressure of a short 6 month or 1 year term. This gives you plenty of time to get that property up to marketable condition and/or current building code standards to meet the requirements of a bank or other traditional mortgage program, or to sell or rent the property.
- FLEXIBLE AND EASY QUALIFYING – Private money purchase and refinance loans where your credit score, tax return income, or employment status are not the deciding factors in qualifying. We are also very flexible with the documentation that you use to show your income.
- VARIETY OF PROPERTY TYPES – Properties that can be purchased with our private money or hard money loan programs are single family residences, residential units, small business commercial use properties and mixed use properties. Building your portfolio can be done using your investment funds and private money loans.
- OWNER & NON-OWNER OCCUPIED – Although, as a real estate investor, you may not have the need of a owner occupied program, it’s good to know that First Security Mortgage does do this type of loan, it may come in useful with one of your purchasers.
If you have a property that you already purchased and made part of your portfolio which needs repairs or upgrades, then private money refinancing could be the option that gives you the capital necessary to get your property ready for purchase or rental clients. Our lending team can guide you through our refinancing process, which offers the following:
- Loan to value ratios of up to 65% of the appraised value of the property.
- Loan amounts of up to $1.5 million. This limit gives you lots of room to find those single-family homes or units that can be solid returns on your investment overtime.
There are many benefits to using private money loans. Although down-payment requirements may be slightly higher, the reason is that we are securing the private money loan mainly against the property and not your personal finances or assets. Therefore, you can get the funds necessary to make improvements and increase the value of your portfolio overall.
Refinancing could also allow you to cash out on the value of your property, allowing you to use that cash for other investments. With private money lending options, you can leverage your portfolio to give you the cash necessary to keep growing your real estate business.
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