Challenges with Buying a Luxury Home
When purchasing a luxury home in Southern California, it’s easy to get excited and overlook some crucial details. There are challenges to consider before making this life-changing step, but at JCAP Private Lending, we don’t want you to get discouraged. Here are some challenges of buying a luxury home and ways that JCAP can help prevent them:
Choosing the wrong location
Location, Location, Location. This has been a popular saying for decades and it still rings true in today’s real estate market. The location in which you buy your luxury home is the biggest thing to take into account before signing those papers. As Bob Eakin’s dad always said, “Buy the ugliest house in the best neighborhood.” When it comes to the value of your home, this statement couldn’t be more spot on. Although remodeling requires a little more effort, it is much less expensive to buy a fixer-upper than to purchase a house that is fully “finished.” Buy your Southern California home without the extra amenities and you can always add them on in the future.
Financing your luxury home
Financing your luxury home through a bank has never been more difficult than it is today. Debt ratio restrictions, tax return audits, and credit score requirements can all prevent you from moving into the home of your dreams. But not with JCAP Private Lending. Not only can JCAP give you a Super Jumbo loan, they can close a loan up to $5 million in as little as one week.
Selling your current home
Often times, homeowners are unable to purchase their new luxury home because they are waiting for their current home to sell. Because JCAP grants home owners asset-based bridge loans, you are able to take out a short-term loan in order to move-in before your previous house sells. A JCAP Bridge Loan gives you the power of a Cash Buyer without selling your current house. Don’t let your current home hold you back from the luxury home you deserve.
Whether you’ve been denied by a bank because of bad credit, or you need help while selling your current home, the hard money experts at JCAP will get you moved in quickly. If you need a Jumbo Loan for your luxury home in Orange County, Los Angeles, or San Diego, give JCAP a call today.
JCAP Private Lending is a Direct Lender who closes and services Investor Funded Short-Term Real Estate Loans. Our experienced team has been providing quality mortgage services for over 30 years. JCAP Private Lending is an Asset Based Lender who steps in to quickly solve a short-term financial need secured by Real Estate. JCAP has an innovative approach to lending, focusing on speed, simplicity, and safety for borrowers and investors. JCAP’s operating philosophy is defined by the simple but impactful statement — “We Care & We Serve”.
Located in Newport Beach, CA, JCAP Private Lending primarily lends Hard Money & Private Loans secured by 1st & 2nd TD’s on residential property in Coastal California.