All California Lending Logo

San Bernardino Hard Money Rehab Loan Funded

Chris Goulart

This San Bernardino hard money rehab loan was for the purchase and rehab of an upscale single family residence in Rancho Cucamonga.  The purchase price of this property was $492,500, with rehab costs of $79,000 and an estimated after repair value of $820,000.

San Bernardino Rehab Front ViewThis San Bernardino hard money rehab loan was made for a total of $535,000.  Included in the loan was six months of interest payments (so the borrower had no payments due out of pocket for the first six months) and $79,000 in fund control for the work to be done.  The fund control was set up to be released in three draws with the initial draw coming immediately after funding to get the work started.  The next draw would advance more funds to continue the work upon receipt of pictures and an overview of the work progress.

The benefits to this fund control on our rehab loans is great.  While many other lenders require work to be done in advance, with fund control releases coming to reimburse for the work done, this specific fund control allows for advances which reduces or eliminates out of pocket costs once the loan has funded (unless you have overruns of course).  In addition, the ease of access means a project that gets finished more quickly.  Finishing a project more quickly means less holding costs and more profits.  Finally, removing the need for inspections (for most rehab deals) means no hidden inspection fees after the close of escrow and no delays due to scheduling conflicts San Bernardino Rehab Guest House with Garagewith the inspector for the builders control.

We can help with rehab loans all over the state of California.  We can typically help secure funding of up to 75% of the ARV or after repair value, and our loan amounts are not capped out at a percentage of the purchase price (so loans greater than the purchase price are not uncommon).  In addition we have other programs for real estate investors looking to fix and flip.  Take a look at our California rehab loans page for more details on how we can help you.

Google Users Reviews

Roseanne Baker
Roseanne Baker
18:45 07 Sep 18
Chris is extremely professional, is a hard worker, always responds back to my emails/calls promptly, and is an expert as what he does. I will definitely recommend him to anyone that is looking for lending services and I will continue to use him for all of my lending needs in the future. You will not be disappointed with his services.read more
lorraine pitre
lorraine pitre
18:44 07 Jun 17
I used All California Lending to provide me with a hard money loan. My loan representative was Chris Goulart. I needed the loan to close in 15 days. Mr. Goulart was able to close the loan in the time frame expected. Several things I admired about Mr. Goulart was that he had great communication via email, text and/or verbal. He was always available. I was even out of the country while he was processing the loan. I came back and the loan was completed. 5 Stars!!!read more
See All Reviews

BBB

Recent Posts