California Hard Money Seconds

Our California hard money seconds are short term loans, secured in second (sometimes even third) position.  These hard money seconds are one option for those looking to tap the equity in a property without having to refinance the existing loans.  For many with low interest rate existing bank loans, this is important.

Utilizing one of our California hard money seconds is typically a swift, low doc process.  These are not consumer purpose loans.  These are for business purpose only.  Often times these loans are used to acquire additional investment property, obtain working capital for an ongoing business, obtain capital for fix and flip projects, purchase additional business inventory or make repairs/upgrades to existing investment properties.

These loans are not to pay off consumer debt, send a child to college or any other consumer purpose.

We are able to secure our California hard money second loans on most property type within the state of California.  Land is one exception.  We are unable to provide second deed of trust funding for land.  For most other property types, however, including residential, commercial, multi-family, strip malls and other property types we can typically help secure a hard money second up to 65% of the total value of the property.

We help obtain financing for individuals, LLC, corporations, trusts and other entities that may hold title.

Typically speaking these are shot term loans with terms of 1-3 years.  Usually they are interest only, and often times we can structure them with no prepayment penalties – or very short term prepayment penalties.  Sometimes we can offer longer terms if that is required.

While the cost of our hard money seconds is higher than on our first position loans, that higher cost is typically more than offset by avoiding having to take out the existing first (and sometimes even second) currently on the property.  This is with regards to both cost of the loan as well as cost of debt service for the life of the loan.

If you would like to know more about our California hard money seconds, please call today at 877 462 3422 and we can discuss the options we have available for your specific scenario.

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