Jason Wheeler

About Jason Wheeler

Jason Wheeler is a Pleasant Hill, CA based private money lender. They provide loans throughout these areas: San Francisco County, Marin County, Alameda County, San Mateo County, Sonoma County, Napa County, Santa Clara County, Contra Costa County, and Solano County. They offer lending solutions for many different situations, including loans for rental properties and cash out hard money loans. They provide loan amounts ranging from $200,000 to $3,000,000 with a maximum LTV of 70% and terms between 6 months and 24 months. Their lending guidelines do not require a minimum credit rating. They will consider various loan scenarios but generally focus on single family residences and multi-family units.

Loan Types Offered: Investment Property Loans, Refinance / Cash Out Loans

Property Types Covered: Single Family, Multi Family

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

Licenses: Jason Wheeler NMLS: 242672, DRE: 01458438 (MLO) C2 Financial Corporation, NMLS # 135622

Lending Guidelines for Jason Wheeler

Below are the general loan guidelines published on the Jason Wheeler 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 Jason Wheeler.

Loan Example 1

Clyde takes a private money loan from Jason Wheeler in order to remodel a property to resale in San Jose, CA. The list price of the property is $350,000. The terms of the note include a 85% loan-to-value (LTV), so he must bring 15% of the price as cash to closing, making the principle loan amount $297,500. The loan also includes the following features: 1) a 18 month term, 2) a 10% interest only note, and 3) a one percent origination charge.

The borrower will have to bring a total of $32,400 upon closing to cover the $52,500 down payment in addition to the $2,975 origination fee. After the loan closes, he will pay the lender $2,479 in monthly interest fees, or 10% multiplied times $297,500 divided by 12 months in a year. At the expiration of the loan, he sells the rehabed property for $420,000. After subtracting the $44,625 in interest payments ($2,479 multiplied times 18 months), the $2,975 origination fee, the $297,500 principle on the loan, and the $52,500 he contributed to the closing, he will earn a gross profit of $22,400 ($420,000 price minus $397,600 in costs). This amount would be reduced by any rehab costs paid by Clyde.

Loan Example 2

Luella is a real estate investor in San Jose, CA. She finds a run-down property for a rehab project and obtains a private money loan from Jason Wheeler with the following terms:

a) A $340,000 sales price, b) a 80% loan to value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 3% origination fee.

After the renovation project is finished, if Luella sells the property for $493,000, the numbers would be the following:

$493,000 sales price
- $272,000 note principle (80% LTV)
- $68,000 down payment (20% on 80% LTV)
- $8,160 origination fee (3% of the $272,000 principle amount)
- $44,880 total interest paid (18 months x 11% interest)
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= $99,960 gross profit (doesn't include taxes or renovation costs)

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