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Lance Pederson (Fairway America, LLC) Mortgage and Lending

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Lance Pederson
location_on Portland, OR — Fairway America, LLC
Get to Know Lance Pederson

We are a direct, commercial hard money lender based in Portland, Oregon.

We've been around in one form or another for 17 years. We focus on small balance commercial real estate and are currently lending in Oregon, Washington, and Idaho.

We fund and service our own loans.

When we initially entered the commercial real estate lending space we brokered all of our business to other lenders. We then began to originate and service loans on behalf of a group of individual investors or what we referred to as whole loan investors. This became quite cumbersome to administer so we created an equity fund that allowed us to pool the investment dollars together to fund the loans we originated. We ended up starting three different equity funds over the years.

In September of 2008, we shut down the equity funds and opened a leveraged debt fund which has made it easier to fund loans since we don't have to go out and raise funds dollar for dollar to make a loan.

There are a couple key things that make us different.

We survived the meltdown. During the good times we only made deals that made sense to people that we were confident could actually perform. We actually care about helping people out. Seriously, we do.

The bottom line is that we are only interested in solving real problems. If our loan isn't going to get the borrower closer to achieving their objectives than we aren't going to make them a loan.  Heck, we won't even accept a deposit from them.

When it comes to our referral sources we guarantee two things.

The first is that if we fund the loan you'll get paid.  We don't believe in going behind the referral sources back or conveniently forgetting who they are. Basically, no funny business. All you have to do is pick up the phone and call us at 800.454.0564. We get the background from you and the deal and we'll take it from there. If we can't fund it we probably know someone who can. The second thing is that we believe we are in the "reputation protection" business. Nine times out of ten someone referred the prospective borrower to us. We will do whatever is possible to ensure that the borrower has a good experience (outside of the fact that if they had their druthers they'd rather not have to take our loan).

 

Certifications

HARD MONEY

Loan Size:              $100,000 to $3,000,000

Lending Area:        Oregon, Washington, Idaho

Interest Rates:      9.5% to 15% (adjustable)

Origination Fees:    2.75% to 5.50%

Term:                    1 to 5 years

Amortization:         Interest Only

Max LTV:                65%

Prepay Penalty:      1/2 of loan term

Included Property Types:    

TIER 1 - multi-family, office building, mixed-use, mini-storage, general purpose industrial

TIER 2 - mobile home parks, retail or office condos, retail, convenience stores, non-owner occupied SFR

TIER 3 - flagged motel\hotel, assisted living facilities, churches, RV parks, automotive related, heavy industrial, non-owner occupied condos

TIER 4 - non-flagged motel\hotel, bowling alley, gas station, restaurant, tavern, SRO, other special purpose

Excluded Property Types:

agricultural, equestrian facilities, unimproved land, buildings on leased land, ground up construction

 

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I am the Executive Vice President of Marketing and IT. My current charge is to get the word out about who we are and what makes us different.