Market Position

 

Alternative Lending Source

TRADITIONAL
LENDERS

WILSHIRE FINANCE PARTNERS

HARD MONEY LENDERS

LENDING APPROACH:
Primarily underwriting the borrower’s credit and income. The property is considered secondarily. Strict underwriting of property valuation. Borrower considered secondarily. Collateral Approach – typically considers property value only.
PROPERTY TYPES:
Lends on all property types. Specialize in:
• Single family investment homes
• Multifamily
• Select commercial properties
Lends on all property types.
PRIMARY LIEN POSITION:
1st liens, 2nd liens 1st liens 1st liens, 2nd liens, 3rd liens and other structures
LOAN-TO-VALUE:
Up to 95% Up to 65% Up to 75%
TERM:
Up to 30 years 1 to 3 years 3 months to 10 years
APPRAISALS REQUIRED:
Yes Yes Sometimes
LOAN CLOSING TIMEFRAME:
60 to 90 Days. Up to 35 Days Up to 35 Days
Rates:
3.5% to 5.5% 8% to 10% 10% to 14%
FUNDING OF LOANS:
Internal Internal Varies widely – typically funded by investor
SERVICING:
Internal Servicing 3rd party servicing with oversight by Wilshire Varies widely
AUDITED FINANCIALS:
Yes Yes – The Wilshire Funds Not Typically

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