FJM Private Mortgage Fund

About FJM Private Mortgage Fund

FJM Private Mortgage Fund is a Petaluma, CA based private lender providing funding throughout the following locations: San Francisco County, Marin County, Alameda County, San Mateo County, Sonoma County, Napa County, Santa Clara County, Contra Costa County, Solano County, and Sacramento County. They offer loans for many different situations and needs, including fix and flip hard money loans, loans for rental properties, and private commercial loans. They offer loan amounts ranging from $100,000 to $5,000,000 with a maximum LTV of 70%, terms between 6 months and 2 years, and rates ranging between 8% and 11%. They are able to lend money to any borrower based on the value of the property and not on a minimum FICO rating. They make loans on all of the following property types: single family, multi family residences, office units, retail spaces, and industrial buildings.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Single Family, Multi Family, Office, Retail, Industrial

Areas Served: San Francisco County, Marin County, Alameda County, San Mateo County, Sonoma County, Napa County, Santa Clara County, Contra Costa County, Solano County, Sacramento County

Licenses: CA Dept of Corporations CFL # 60DBO-77543, CA BRE under FJM Capital, Inc. #01918610 DBA First Bridge Lending NMLS # 958346

Lending Guidelines for FJM Private Mortgage Fund

Below are the general loan guidelines published on the FJM Private Mortgage Fund website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by FJM Private Mortgage Fund.

Loan Example 1

Camille is a house flipper in San Jose, CA. She finds a run-down property for sale and decides to renovate it and sell it for a profit. The property has a cost of $330,000 but she doesn't have the full amount so she takes a hard money loan with FJM Private Mortgage Fund. The terms of the note include a 80% loan-to-value (LTV), so she must bring 20% of the price as cash at closing, which makes the principle note amount $264,000. The note is interest only, paid monthly, and is for 12 months at 10% interest with 5 points to be paid at closing.

Camille will need to bring $66,000 to the closing (20% on the 80% loan to value), plus she will have to pay the $13,200 origination fee. After the deal closes, she will have to pay FJM Private Mortgage Fund $2,200 in monthly interest payments, or 10% times $264,000 divided by 12 months in the year. If Camille accomplishes her goal of a $445,500 sales price at the end of the loan term, she would pocket a total profit of $75,900 after re-paying the principle amount and subtracting the cash she paid at closing, the origination points, and the total monthly interest payments.

Loan Example 2

Christopher takes a fix and flip loan from FJM Private Mortgage Fund so he can remodel a property to flip in San Jose, CA. The deal has the following terms:

$220,000 sales price
85% loan-to-value (LTV)
18 month term
8% rate of interest
1% origination fee

Assuming a $286,000 sales price after the 18 month term, the outcome for this deal would look like the following:

$286,000 sales price
- $187,000 loan principle (85% LTV)
- $33,000 cash paid at closing (15% on 85% LTV)
- $1,870 origination points (1% of the $187,000 principle)
- $22,440 total interest paid (18 months x 8% interest)
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= $41,690 total profit (doesn't include taxes or renovation costs)

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