California hard money lenders are private money lenders providing hard money loans or “private money loans”. These financing options are low document loans with underwriting decisions made based on the real estate asset being used as collateral. We are:
We are California hard money lenders, we specialize in hard money loans for residential and commercial property. On average we give decisions within 4 hours or less. With our flexible hard money loan products we can offer the best interest rates with the best terms.
As a comparison loans by banks are typically made after evaluation of income, tax returns and other documentation (“full documentation”) and borrowers are usually required to have credit scores above a certain mark usually 700. The process can take 2 to 3 months before closing and funding. Hard Money Loans do not have as strict guidelines with regard to credit score and income and can close and be funded in a matter of days. Our hard money loans do not require a minimum credit score and we have options where borrowers can state their income. In fact if you have bad credit than the hard money lender for bad credit can be your source for financing.
We provide funding in the millions to real estate investors in California monthly, our experience and proven loan process ensure a fast turn around. We can usually fund loans in less than 10 business days. Whether you are purchasing REOs, property in short sale, auctions, trustee sales or private parties we can help. We have construction loan products available for owner occupied and non-owner occupied properties. You do not have time to waste while a bank officer decides whether to fund your project or not, we know that and that is why we will not waste your time. We are your California Hard Money Lenders.
We provide asset based financing with private money, on a case by case basis. What that means is that we do not have any cookie cutter criteria that borrowers have to qualify against, we base our decision based on the merits of each loan file. We essentially fund a hard money real estate loan if it makes sense!
Our lending decisions are based on a variety of factors so even if the borrower has a low credit score or adverse credit items such as a bankruptcy or foreclosure, we can still fund provided that other factors, such as income and value/equity in the property are satisfactory.
Firstly and most importantly, with a hard money loan you will get your funding a lot sooner (days versus months). Usually potential borrowers do not start the process until they need the loan ASAP, so this is an essential reason for seeking hard money financing.
Another reason for looking into a hard money loan would be as short term financing. For instance if you know you will get bank funding however it is going to take a couple of months to get to closing but the property purchase closing date is a lot sooner, you can get a bridge loan which will fund the purchase on the closing date and then this loan can be "paid off" with the bank financing when that comes. This way you can purchase the property with any extensions in the closing date.
Other reasons for looking at loans from hard money lenders include:
If you are ready to start the process and get the funding that you want, please call us now at (949) 313-7333, or you can keep shopping, but we are pretty certain that we have some of the best terms and rates around. We look forward to speaking with you soon, or if you decide to keep shopping we wish you good luck!
The above is for informational purposes only. It does not constitute a guarantee of loan terms or funding.