Hard Money Loans

When traditional financing isn't available, a hard money loan may be your best solution

Hard Money Loans — Quick Reference

• Borrow up to 65% of the conservative value of your property for purchase, refinance, or cash-out purposes
• 1st and 2nd mortgage loans available
• Rates from 8.50% to 14.99%
• SFR, condo / townhome, 2-4 units, apartments, mixed-use and commercial income property are acceptable collateral
• Good credit isn't required
• Close in half the time versus a bank loan

Restrictions

• Residential hard money loans limited to California only
• Commercial income property hard money loans available nationwide
• Minimum hard money residential loan is $100,000 for owner-occupied, or $75,000 for investment property
• No cash-out loans on lots or land
• No residential rehab loans based on "after repaired value" (current AS-IS value only)
• Homes on leased land do not qualify
• All loans underwritten on a case-by-case basis

Our minimum hard money loan amounts and general guidelines can be found on our guidelines page.

Use a Hard Money loan to:

• Purchase real estate — with a sufficient down payment plus closing costs
• Refinance a loan — obtain cash from equity, pay off a balloon or delinquent loan to prevent a foreclosure
• Secure a 2nd mortgage — cash out for debt consolidation, remodeling, repairs, business loans, investments, or for any reason
• Obtain a bridge loan to purchase other real estate prior to selling your current property based on the equity in the departing residence
• Stabilize or renovate commercial income property -- for commercial apartments, offices, retail, medical, and mixed-use income properties when renovations are required, or to provide interim capital or bridge money prior to permanent financing

You may qualify for a Hard Money loan, even if:

• You have average or poor credit, minimal credit, or NO credit — sufficient equity and the means to repay the loan are more important than your personal credit
• You have a recent bankruptcy, foreclosure, or divorce -- these issues are acceptable for hard money lending with sufficient equity and the means to repay the loan
• You have too much debt to qualify for a bank loan — with the necessary equity in your property and the ability to repay the loan higher debt-income ratios are OK
• You've been on your job for less than two years. Provided your employment is expected to continue a new job is OK
• You have inconsistent or mixed income — income can be from different sources and still be acceptable
• Title to your property is held in the name of a trust, LLC, or corporation — title to the property can be vested in a non-natural person
• You need a business loan secured by equity in real estate, but are unable to qualify for a commercial bank or SBA loan
• You are a Foreign National with no U.S. employment or SSN and aren't able to secure a conventional loan

Trust an expert in hard money lending

I've been providing hard money loans for residential and commercial properties in California for over a decade. Following the collapse of the real estate economy in 2007 many conventional loan brokers looking to replace lost business flocked to this niche market claiming to be hard money lenders, but there are few that understand what it takes to successfully close these transactions in today's climate. Call me today for a personal consultation and assesment of your situation.