At Alpen Mortgage, we are all about digging into the details, getting to know your needs and determining the best approach for each project.
This is a true “win-win” relationship, as developers have a trusted source when they are in need of funding and our Investors know they have a trusted source to place their money.
Our objective is to find loans in the community which provide an opportunity for both our borrowers and Investors. For our borrowers, we carefully select investment opportunities which are often “near bankable,” meaning just outside of banking standards. We also receive loan opportunities directly from financial institutions that are “bankable” however, for various reasons, they are unable to fund within the required time frame.
WHY DOES A BORROWER SEEK PRIVATE MONEY?
We also typically require personal guarantees from our key borrowers. A personal guarantee grants an extra layer of security should the borrower or borrowing entity default on the loan.
At times, we will suggest cross-collateralization of properties. Cross-collateralization creates a better equity position for the Investor. In case of borrower default, cross collateralized properties will be used as security to protect the Investors’ loan.
LIEN PRIORITY AND SECURITY
To protect the lien position held on each property, Alpen Mortgage requires title insurance on all loans. Title insurance ensures the lien position to any other prior or future liens or claims placed against the subject property.
Nearly all investment opportunities arranged by Alpen Mortgage are in the First Trust Deed position. Occasionally we will lend on Second Trust Deeds if the combined loan to value is extremely low. We do not lend on personal property.
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