C & C Financial Services, Inc works with investors that have cash and/or IRA retirement funds to invest in hard money private equity first mortgage loans. We have been arranging residential and commercial mortgages since 1981.
We are Florida licensed mortgage brokers. We bring borrowers and non- institutional private lenders (investors) together.
- The borrowers pay all closing costs and any investor expenses (wire fees & inspection) at closing.
- There is no cost to the mortgage note investor.
- We do not pool mortgage notes or investors funds together.
- Investors are making title insured first mortgage loans funded through a licensed title agency or the investors attorney directly to borrowers not to us or our company.
Our first mortgage notes vary in size from $20,000 up to $400,000. We underwrite each file that comes in, eliminating most of them. We present you with notes that match our underwriting criteria and what you tell us you are looking for in loan size. A few of our investors want theirs to be in a certain area, property type or at a minimum note rate.
We arrange funding all over Florida with the majority of them in the Tampa Bay area.
Updated July 16, 2015
Here are a few examples of what we have approved and funded recently.
Orlando FL: Bridge loan for borrower looking to downsize to a smaller property. He originally paid $315,000 in 2011 we lent $195,000 at 12% interest with a 30 year amortization. Loan will be paid off when property is sold.
Tampa, FL: $20,000 loan on a free and clear single family property valued at $75,000. 12% interest with a 5 year amortization.
Approved not yet funded in Odessa, FL: 2 Lakefront vacation homes on Lake Alice ( http://www.lake-alice.com ). Value is well over one million. Loan amount $375,000 at 9% interest with a 30 year amortization.
Approved not yet funded in Tarpon Springs, FL: Bridge Loan on free and clear condo for $85,000 at 12% Interest, 30 year amortization. Value is $180,000. Borrower needs funds to downsize and sell the subject property.
What sets us apart: We have been in business since 1981 lending mostly in the local area we know well. Our loan to values and underwriting are very conservative. There are no fees or costs paid by you the private lender. We collect from the borrower pre-paid interest a $50 wire fee and $150 processing fee paid to you on each file to cover your expense to wire funds to the title company or closing attorney.
If you would like to learn how to earn 10-14% annual yields paid monthly on your investment capital we offer free hard money investor training . Review the examples and FAQ below then call us 813-874-5800. If you have previous or current experience just call and let us know your lending area preferences.
|Amount Requested||Value or Price||Loan-to-value||Equity Remaining||Availability / Area|
|$70,000||Tax Assessment $226,000||31%||$156,000||funded - others available|
|$27,200||Purchase Price $ 52,000||52%||$24,800||funded - others available|
|$42,000||$100,000||42%||$48000||funded - others available|
|21,000||42,000||50%||$21,000||available - click the blue link below
Hard money loans are secured by a first mortgage on real estate in the Tampa Bay area or your local area in Florida. The loans are closed title fully insured by an attorney or local title company. We recommend not to exceed 60% of the current real estate value when funding a hard equity loan. The purchase loans we originate are funded with 40% or more down from the borrower / buyers funds and up to 60% from your investment funds. This ensures that there is sufficient equity in the secured mortgage note investment. The typical residential note is $25,000 to $100,000 and $50,000 on up for commercial notes.
Term of investment ?
Most hard money notes have 3-5 year balloons or are due which are to be paid in full in three to five years with monthly interest payments paid directly to you from the borrower.
Payment frequency ?
Monthly based on amortization of 10 to 30 years or interest only payments.
A first mortgage on Florida real estate at 60% or less of the property’s present value.
Monthly payments are paid directly from the borrower to the investor. Or you can arrange to have an inexpensive national loan servicing company service your notes and send your payments each month via ACH.
How do I decide to fund a loan ?
- The first step is to call 813-874-5800 and let us know you are interested.
- Next review a preliminary loan package. A typical loan package contains an application, credit report, value estimate, and other supporting documents.
- Then go look at the property and surrounding area.
- You decide which mortgage notes you would like to fund based on your inspection and appraisal
There are no fees to the investor. Borrowers pay for all closing costs such as the title insurance policy, document recording, attorney fees, your wire fees, and all origination fees.
How is the money handled ?
By wire or certified check paid directly to the title company or your attorney closing the transaction. Money is never transferred directly to the borrower or broker.