California hard money loans are our speciality – we can help finance your residential hard money loan request in most locations throughout the state of California. Each residential transaction is different, and it is important for us to know the purpose of the loan. While the main approval factor on residential hard money lending is still the equity available in the property, the paperwork required will differ depending on the use of funds.
For short term rehab lending on residential property here in California we will need not only the property information, but also a full breakdown of the rehab work to be done as well as comps to support an as complete or after repair value. Typically speaking, a hard money rehab loan will be made based on the after repair value, or ARV. These products typically include a fund control account for work that needs to be done. In addition, they can be structured with interest reserves built into the loan. Rehab lending is a special segment of our residential products visit our California rehab loans page to learn in detail about those programs.
In addition to rehab lending, we also facilitate hard money residential loans for purchase, refinance and cash out transactions. If you own rental property in California and need a hard money lender, give us a call – we can likely help. We can help with private hard money funding on single family residences, condos, townhomes – even manufactured homes if they are on a permanent foundation. Loan to value ratios can go as high as 80% for purchases as well as cash out refinance transactions. The length of term on these private money loans can vary depending on your needs. We can help with short term funding as well as assist in providing longer term products – sometimes 30 or even 40 year terms.
Location is typically not an issue for us either. We are able to help in most locations in California. Whether the property is located in a city such as San Francisco or Los Angeles, in the Central Valley, the High Desert or the North Coast, we have funding sources available. Again, most hard money residential lending we work with is equity based, so even if your tenant has moved out and the property is not currently rented, we can help. Need money for repairs so you can rent the property or ready it for sale? We can help with that too.
Call us today and we will be happy to talk with you about your particular property and how we can help with regards to financing. Rates and terms can vary depending on loan to value, the purpose of the loan, property type and other factors. We can work with credit issues, as well as other situations that may have caused a bank to turn a file down. The best way to find out what we can offer is to give us a call and discuss your specific scenario.