Mission San Jose Mortgage
2111 West March Lane Suite B100
Stockton, CA 95207
Are the owner of this business? Claim this listing.
-
About Mission San Jose Mortgage
Mission San Jose Mortgage is a Stockton, CA based hard money lender. They provide loans in San Jose. They offer lending solutions for a variety of situations and needs, including commercial loans and fix and flip loans. They provide loans with a maximum LTV of 65% and rates ranging between 12% and 18%. They offer loans on the following types of properties: single family homes, multi-family units, office buildings, retail storefronts, industrial facilities, mixed use, apartments, and warehouse spaces.
Visit Website
Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family, Office, Retail, Industrial, Mixed Use, Apartment, Warehouse
Areas Served: San Jose
Licenses: California Finance Lenders License #6054648, NMLS #233989
-
Lending Guidelines for Mission San Jose Mortgage
Below are the general loan guidelines published on the Mission San Jose Mortgage website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: N/A
Available Rates: 12% - 18%
Typical Terms: N/A
Points Charged: 2% - 10%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: N/A
Available Rates: 12% - 18%
Typical Terms: N/A
Points Charged: 2% - 10%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Mission San Jose Mortgage.
Loan Example 1
Joel takes a fix and flip loan from Mission San Jose Mortgage in order to renovate a condo to flip in San Jose, CA. The list price of the house is $380,000. Because the lender agrees to a 75% loan-to-value, Joel will need to put 25% down and the total amount of the loan will be $285,000. The rate on the loan is 11% for a length of 18 months and the company requires a two point origination fee at closing. The interest payments are to be paid monthly and the principle will be repaid after the property sells.
By the terms of the note, Joel will need to contribute a $5,700 origination fee plus 25% of the sales price, or $95,000, based on the 75% LTV. Once the deal closes, he will have to pay Mission San Jose Mortgage $2,613 in monthly interest fees, or 11% multiplied by $285,000 divided by 12 months in the year. At the expiration of the loan, he sells the renovated house for $513,000. After deducting the $47,025 in total interest payments ($2,613 multiplied by 18 months), the $5,700 origination fee, the $285,000 principle on the loan, and the $95,000 he contributed to closing, he will earn a total profit of $80,275 ($513,000 price minus $432,725 in costs). This profit would then be reduced by any renovation costs paid by the borrow.
Loan Example 2
Mission San Jose Mortgage issues a hard money loan to Chris for a renovation project in San Jose, CA. The deal includes the following:
a) A $370,000 purchase price, b) a 80% loan-to-value (LTV), c) a 12 month term, d) a 9% interest rate, and e) a 5% origination fee.
If Chris achieves his goal of a $481,000 sales price, the outcome of the deal will be as follows:
$481,000 sales price
- $296,000 principle on note (80% LTV)
- $74,000 down payment (20% on 80% LTV)
- $14,800 origination points (5% of the $296,000 principle)
- $26,640 total interest paid (12 months x 9% interest)
-----------------------
= $69,560 gross profit (does not include taxes or rehab costs) -
Yelp! Review
by Andrew A. 08/10/2022 I initially was trying to do business with other mortgage companies but after a while of searching I ended up looking at the reviews for this company and...
Read more on Yelp!I initially was trying to do business with other mortgage companies but after a while of searching I ended up looking at the reviews for this company and...
Read more on Yelp!Yelp! Review
by Bobby G. 04/25/2022 I just wanted to take the time to THANK Jorge and Omar for their knowledge and expertise in the mortgage industry. It helps that they are both experienced...
Read more on Yelp!I just wanted to take the time to THANK Jorge and Omar for their knowledge and expertise in the mortgage industry. It helps that they are both experienced...
Read more on Yelp!Yelp! Review
by Billy A. 11/01/2021 Yelp! Review
by Vic T. 09/27/2021 Afsaneh is hard-working knowledgeable and professional loan officer, working with mission San Jose was a great experience easy as 1 2 3, in a very short...
Read more on Yelp!Afsaneh is hard-working knowledgeable and professional loan officer, working with mission San Jose was a great experience easy as 1 2 3, in a very short...
Read more on Yelp!Yelp! Review
by Mona P. 09/24/2021 Very helpful, we were first time buyers with no realtor . They helped us get our home, and did all the hard work for us. We are so grateful and will...
Read more on Yelp!Very helpful, we were first time buyers with no realtor . They helped us get our home, and did all the hard work for us. We are so grateful and will...
Read more on Yelp!Yelp! Review
by Rafina K. 06/29/2021 Omar and Noemi are great. very calm and great customer service.Omar and his team are very knowledgeable. they really worked hard to close my loan on time....
Read more on Yelp!Omar and Noemi are great. very calm and great customer service.Omar and his team are very knowledgeable. they really worked hard to close my loan on time....
Read more on Yelp!Yelp! Review
by Gurjeet D. 05/01/2021 Yelp! Review
by Zulú G. 10/09/2020 Yelp! Review
by m g. 09/21/2020 *****ROOKIES*****They don't listenThey don't look at documents well. They promise when they can't deliverIt's been so upsetting switching to this...
Read more on Yelp!*****ROOKIES*****They don't listenThey don't look at documents well. They promise when they can't deliverIt's been so upsetting switching to this...
Read more on Yelp!Yelp! Review
by Nicole W. 09/17/2020 THE GUY OMAR IS A SCAMMER!!!! Do not allow him to tell you your approved!! We paid for our down payment deposit and did not get the house! He's full of...
Read more on Yelp!THE GUY OMAR IS A SCAMMER!!!! Do not allow him to tell you your approved!! We paid for our down payment deposit and did not get the house! He's full of...
Read more on Yelp!Yelp! Review
by Moiz U. 07/15/2020 First of all I should say thank you to Omar and Maryna of Mission San Jose Mortgage. They deal their customer very professionally my satisfaction is 100%....
Read more on Yelp!First of all I should say thank you to Omar and Maryna of Mission San Jose Mortgage. They deal their customer very professionally my satisfaction is 100%....
Read more on Yelp!Yelp! Review
by Roberto H. 07/08/2020 Yelp! Review
by Zeeshan K. 06/18/2020 I have worked with San Jose Mortage on 2 occasions and both times things went flawlessly thanks to Qaiser. I always got the best rate on the market and...
Read more on Yelp!I have worked with San Jose Mortage on 2 occasions and both times things went flawlessly thanks to Qaiser. I always got the best rate on the market and...
Read more on Yelp!Yelp! Review
by Angelchouk S. 02/27/2020 Philip Kilmer will do what it takes to make the process of closing as seamless as possible. What a professional, and it was my pleasure having worked with...
Read more on Yelp!Philip Kilmer will do what it takes to make the process of closing as seamless as possible. What a professional, and it was my pleasure having worked with...
Read more on Yelp!Yelp! Review
by Vanthea C. 02/13/2020 When i went there to get a loan for a house fir my wife, i did not think i could get a loan under my name because i had bad credit. Phil and their team had...
Read more on Yelp!When i went there to get a loan for a house fir my wife, i did not think i could get a loan under my name because i had bad credit. Phil and their team had...
Read more on Yelp!Yelp! Review
by Richard L. 01/14/2020 MSJ made buying my familys home an incredible experience. Everyone I dealt with treated me like I was the most important business deal they ever made. I...
Read more on Yelp!MSJ made buying my familys home an incredible experience. Everyone I dealt with treated me like I was the most important business deal they ever made. I...
Read more on Yelp!Yelp! Review
by Jabed F. 12/13/2019 Yelp! Review
by Shahnawaz S. 11/25/2019 Omar, of Mission San Jose Mortgage offered some good pricing for the refinancing, and took care of all the items on-line, so well streamlined. It took a bit...
Read more on Yelp!Omar, of Mission San Jose Mortgage offered some good pricing for the refinancing, and took care of all the items on-line, so well streamlined. It took a bit...
Read more on Yelp!Yelp! Review
by Saveth S. 08/17/2019 Amal was so supportive and knowledgeable. She was very responsive to my questions and concerns. I could not have imagined going through this process with...
Read more on Yelp!Amal was so supportive and knowledgeable. She was very responsive to my questions and concerns. I could not have imagined going through this process with...
Read more on Yelp!Yelp! Review
by Vanndany S. 08/02/2019 Omar and his team were wonderful to work with. They stayed on top of each process and got my refi closed at no out of pocket cost to me. Thank you for...
Read more on Yelp!Omar and his team were wonderful to work with. They stayed on top of each process and got my refi closed at no out of pocket cost to me. Thank you for...
Read more on Yelp!Yelp! Review
by Shafique A. 07/21/2019 Yelp! Review
by Jesus L. 06/07/2019 Jesus Del Toro provided my family and myself a great customer service answering all the questions we had and was very clear about the process and procedures...
Read more on Yelp!Jesus Del Toro provided my family and myself a great customer service answering all the questions we had and was very clear about the process and procedures...
Read more on Yelp!Yelp! Review
by Jassen A. 05/14/2019 Omar is great to work with. Very knowledgeable about the business and will work hard to get your loan closed. He can handle a number of different loan...
Read more on Yelp!Omar is great to work with. Very knowledgeable about the business and will work hard to get your loan closed. He can handle a number of different loan...
Read more on Yelp!Yelp! Review
by Mark H. 05/14/2019 One of the best brokerages in the valley offering more solutions for borrowers than any bank. Sincerely, Mark Holmes National Account Executive, HomeXpress
Read more on Yelp!One of the best brokerages in the valley offering more solutions for borrowers than any bank. Sincerely, Mark Holmes National Account Executive, HomeXpress
Read more on Yelp!Yelp! Review
by Chris C. 02/16/2019 Philip Kilmer was such an amazing help with purchasing my first home. He was very patient and thorough on explaining how the process worked. The...
Read more on Yelp!Philip Kilmer was such an amazing help with purchasing my first home. He was very patient and thorough on explaining how the process worked. The...
Read more on Yelp!Yelp! Review
by Moe M. 02/12/2019 Buying a home is almost always a long and stressful process so it's nice to have someone in your side that understands and who will give it everything....
Read more on Yelp!Buying a home is almost always a long and stressful process so it's nice to have someone in your side that understands and who will give it everything....
Read more on Yelp!Yelp! Review
by Patie J. 07/13/2018 Omar and the team were very helpful in obtaining my loan. There was a lot of paper work we had to patiently work our way through--thank you for your...
Read more on Yelp!Omar and the team were very helpful in obtaining my loan. There was a lot of paper work we had to patiently work our way through--thank you for your...
Read more on Yelp!Yelp! Review
by Kin Man Y. 07/04/2018 I need to do a HELOC through my bank (one of the biggest banks) but finally got turned down due to my short history of credit and primary residency. I...
Read more on Yelp!I need to do a HELOC through my bank (one of the biggest banks) but finally got turned down due to my short history of credit and primary residency. I...
Read more on Yelp!Yelp! Review
by Zulfiqar A. 06/30/2018 Qaisar was an amazing loan officer got me pre approved for the house in Stockton i will recommend everyone to work with him if they need any help in laon...
Read more on Yelp!Qaisar was an amazing loan officer got me pre approved for the house in Stockton i will recommend everyone to work with him if they need any help in laon...
Read more on Yelp!Yelp! Review
by Hui W. 05/18/2018 Qaisar is a very good lender who is professional and flexible. He is easy to get going with. He will help to figure out the problem as he can do. Our loan...
Read more on Yelp!Qaisar is a very good lender who is professional and flexible. He is easy to get going with. He will help to figure out the problem as he can do. Our loan...
Read more on Yelp!Yelp! Review
by Corrine M. 09/13/2017 Trish is AMAZING, she made the whole process easy peazy! I was so nervous and super apprehensive to buy because i didn't know where to begin or who to...
Read more on Yelp!Trish is AMAZING, she made the whole process easy peazy! I was so nervous and super apprehensive to buy because i didn't know where to begin or who to...
Read more on Yelp!Yelp! Review
by Jimmy L. 10/18/2016 All I have to say is that Huiyan(YANNIS)was great! she would answer my questions timely and in a way that I could understand. I am happy she was my...
Read more on Yelp!All I have to say is that Huiyan(YANNIS)was great! she would answer my questions timely and in a way that I could understand. I am happy she was my...
Read more on Yelp!Yelp! Review
by Derron L. 06/14/2016 Omar and Trami locked down a rate for our new home in a flash! They are extremely knowledgable and will go to bat for you. They made the entire process...
Read more on Yelp!Omar and Trami locked down a rate for our new home in a flash! They are extremely knowledgable and will go to bat for you. They made the entire process...
Read more on Yelp!Yelp! Review
by Ram E. 02/12/2015 I have worked with Omar for 4 times so far on multiple properties. Omar is very knowledgeable on the home mortgage and very straight forward in his...
Read more on Yelp!I have worked with Omar for 4 times so far on multiple properties. Omar is very knowledgeable on the home mortgage and very straight forward in his...
Read more on Yelp!Yelp! Review
by Aman K. 11/27/2012 We were the First Time Home Buyers and after a Long Home Search for a House in Fremont we finally got into Escrow for a Single Family Home in Fremont. On my...
Read more on Yelp!We were the First Time Home Buyers and after a Long Home Search for a House in Fremont we finally got into Escrow for a Single Family Home in Fremont. On my...
Read more on Yelp!
Your Information is Processing