When conventional financing takes too long or is not available due to low FICO scores or some other reason, hard money can be a deal saver. If you invest in a lot of property, your FICO score can plummet simply due to the number of mortgages you owe! Alternatively, the properties that can be had for an advantageous price may not meet conventional banking criteria. In either case, hard money lenders are not restricted in the same way that conventional banks are and
Hard money lenders can turn on a dime. Mortgages for real estate investing can take anywhere from two to six months to be completed by conventional banks and lenders. Hard money lenders can generally fund in two weeks from the time you have all the paperwork in place.
Lenders can also fund projects that conventional banks cannot. If your real estate investing takes you to the realm of dry cleaners (or a strip mall that has one), gas stations, or even assisted living facilities (one of the hottest growing real estate markets in the US), conventional banks are not likely to be able to fund your project. Hard money loans can, once again, be a deal saver.
Plan to use hard money as a bridge loan. Terms generally range from one to three years. This should provide ample time to prepare the property or your personal financial status to arrange for long term conventional financing or to arrange for the sale of the property in question.
Counties and Cities Served Alameda County Alameda Albany Berkeley Dublin Emeryville Fremont Hayward Livermore Newark Oakland Piedmont Pleasanton San Leandro Union City Hard money loans are available for property in Alameda County.
Alpine County No matter what county your property is in, including Alpine, we can help fund a loan in most cases.
Amador County Amador City Ione Jackson Plymouth Sutter Creek We are able to fund loans on land, residential and commercial properties across the state of California, including in Amador County.
Butte County Chico Gridley Oroville Paradise We have extensive experience in most California counties including Butte. Call us for more information on what loans may or may not be available.
Calaveras County Angels Camp We can fund hard money loans on Calaveras county residential and commercial real estate
Colusa County Colusa Williams Let us be your last stop in your pursuit of a hard money loan.
Contra Costa County Antioch Brentwood Clayton Concord Danville El Cerrito Hercules Lafayette Martinez Moraga Orinda Pinole Pittsburg Pleasant Hill Richmond San Pablo San Ramon Walnut Creek Looking for a Contra Costa County hard money lender? Let us help you with the financing you are looking for.
Del Norte County Crescent City No matter what county your property is in, including Del Norte, we can help fund a loan in most cases.
El Dorado County Placerville South Lake Tahoe We have extensive experience in most California counties including El Dorado. Call us for more information on what loans may or may not be available.
Fresno County Clovis Coalinga Firebaugh Fowler Fresno Huron Kerman Kingsburg Mendota Orange Cove Parlier Reedley San Joaquin Sanger Selma Fresno County private money loans are available on most property types.
Glenn County Orland Willows We are able to fund loans on land, residential and commercial properties across the state of California, including in Glenn County.
Humboldt County Arcata Blue Lake Eureka Ferndale Fortuna Rio Dell Trinidad Let us be your last stop in your pursuit of a hard money loan.
Imperial County Brawley Calexico Calipatria El Centro Holtville Westmorland Hard money loans are available for property in Imperial County.
Inyo County Bishop We can fund hard money loans on Inyo county residential and commercial real estate
Kern County Arvin Bakersfield California City Delano Kern County Maricopa McFarland Ridgecrest Shafter Taft Tehachapi Wasco Looking for a Kern County hard money lender? Let us help you with the financing you are looking for.
Kings County Avenal Corcoran Hanford Lemoore Let us be your last stop in your pursuit of a hard money loan.
Lake County Clearlake Lakeport Lake County private money loans are available on most property types.
Lassen County Susanville Let us be your last stop in your pursuit of a hard money loan.
Los Angeles County Agoura Hills Alhambra Arcadia Artesia Azusa Baldwin Park Bell Bell Gardens Bellflower Beverly Hills Bradbury Burbank Calabas Carson Cerritos Claremont Commerce Compton Covina Cudahy Culver City Diamond Bar Downey Duarte El Monte El Segundo Gardena Glendale Glendora Hawaiian Gardens Hawthorne Hermosa Beach Hidden Hills Huntington Park Industry Inglewood Irwindale La Canada Flintridge La Habra Heights La Mirada La Puente La Verne Lakewood Lancaster Lawndale Lomita Long Beach Los Angeles Lynwood Malibu Manhattan Beach Maywood Monrovia Montebello Monterey Park Norwalk Palmdale Palos Verdes Estates Paramount Pasadena Pico Rivera Pomona Rancho Palos Verdes Redondo Beach Rolling Hills Rolling Hills Estates Rosemead San Dimas San Fernando San Gabriel San Marino Santa Clarita Santa Fe Springs Santa Monica Sierra Madre Signal Hill South El Monte South Gate South Pasadena Temple City Torrance Vernon Walnut West Covina West Hollywood Westlake Village Whittier We are able to fund loans on land, residential and commercial properties across the state of California, including in Los Angeles County.
Madera County Chowchilla Madera No matter what county your property is in, including Madera, we can help fund a loan in most cases.
Marin County Belvedere Corte Madera Fairfax Larkspur Mill Valley Novato Ross San Anselmo San Rafael Sausalito Tiburon Hard money loans are available for property in Marin County.
Mariposa County Let us be your last stop in your pursuit of a hard money loan.
Mendocino County Fort Bragg Point Arena Ukiah Willits We can fund hard money loans on Mendocino county residential and commercial real estate
Merced County Atwater Dos Palos Gustine Livingston Los Banos Merced Merced County private money loans are available on most property types.
Modoc County Alturas Hard money loans are available for property in Modoc County.
Mono County Mammoth Lakes No matter what county your property is in, including Mono, we can help fund a loan in most cases.
Monterey County Carmel Del Rey Oaks Gonzales Greenfield King City Marina Monterey Pacific Grove Salinas Sand City Seaside Soledad We are able to fund loans on land, residential and commercial properties across the state of California, including in Monterey County.
Napa County American Canyon Calistoga Napa St. Helena Yountville Let us be your last stop in your pursuit of a hard money loan.
Nevada County Grass Valley Nevada City Truckee We can give you quick answers on loan options regarding Nevada County property with a quick phone call.
Orange County Anaheim Brea Buena Park Costa Mesa Cypress Dana Point Fountain Valley Fullerton Garden Grove Huntington Beach Irvine La Habra La Palma Laguna Beach Laguna Hills Laguna Niguel Lake Forest Los Alamitos Mission Viejo Newport Beach Orange Placentia San Clemente San Juan Capistrano Santa Ana Seal Beach Stanton Tustin Villa Park Westminster Yorba Linda Let us be your last stop in your pursuit of a hard money loan.
Placer County Auburn Colfax Lincoln Loomis Rocklin Roseville Placer County private money loans are available on most property types.
Plumas County Portola We can fund hard money loans on Plumas county residential and commercial real estate
Riverside County Banning Beaumont Blythe Calimesa Canyon Lake Cathedral City Coachella Corona Desert Hot Springs Hemet Indian Wells Indio La Quinta Lake Elsinore Moreno Valley Murrieta Norco Palm Desert Palm Springs Perris Rancho Mirage Riverside San Jacinto Temecula Hard money loans are available for property in Riverside County.
Sacramento County Folsom Galt Isleton Sacramento We have extensive experience in most California counties including Sacramento. Call us for more information on what loans may or may not be available.
San Benito County Hollister San Juan Bautista We are able to fund loans on land, residential and commercial properties across the state of California, including in San Benito County.
San Bernardino County Adelanto Apple Valley Barstow Big Bear Lake Chino Chino Hills Colton Fontana Grand Terrace Hesperia Highland Loma Linda Montclair Needles Ontario Rancho Cucamonga Redlands Rialto San Bernardino Twentynine Palms Upland Victorville Yucaipa Yucca Valley Let us be your last stop in your pursuit of a hard money loan.
San Diego County Carlsbad Chula Vista Coronado Del Mar El Cajon Encinitas Escondido Imperial Beach La Mesa Lemon Grove National City Oceanside Poway San Diego San Marcos Santee Solana Beach Vista Hard money loans are available for property in San Diego County.
San Francisco County San Francisco San Francisco County private money loans are available on most property types.
San Joaquin County Escalon Lathrop Lodi Manteca Ripon Stockton Tracy We have extensive experience in most California counties including San Joaquin. Call us for more information on what loans may or may not be available.
San Luis Obispo County Arroyo Grande Atascadero Grover Beach Morro Bay Paso Robles Pismo Beach San Luis Obispo Let us be your last stop in your pursuit of a hard money loan.
San Mateo County Atherton Belmont Brisbane Burlingame Colma Daly City East Palo Alto Foster City Half Moon Bay Hillsborough Menlo Park Millbrae Pacifica Portola Valley Redwood City San Bruno San Carlos San Mateo South San Francisco Woodside We can fund hard money loans on San Mateo county residential and commercial real estate
Santa Barbara County Buellton Carpinteria Guadalupe Lompoc Santa Barbara Santa Maria Solvang Let us be your last stop in your pursuit of a hard money loan.
Santa Clara County Campbell Cupertino Gilroy Los Altos Los Altos Hills Los Gatos Milpitas Monte Sereno Morgan Hill Mountain View Palo Alto San Jose Santa Clara Saratoga Sunnyvale We are able to fund loans on land, residential and commercial properties across the state of California, including in Santa Clara County.
Santa Cruz County Capitola Santa Cruz Scotts Valley Watsonville We have extensive experience in most California counties including Santa Cruz. Call us for more information on what loans may or may not be available.
Shasta County Anderson Redding Shasta Lake Shasta County private money loans are available on most property types.
Sierra County Loyalton Let us be your last stop in your pursuit of a hard money loan.
Siskiyou County Dorris Dunsmuir Etna Fort Jones Montague Mount Shasta Tulelake Weed Yreka We can give you quick answers on loan options regarding Siskiyou County property with a quick phone call.
Solano County Benicia Dixon Fairfield Rio Vista Suisun City Vacaville Vallejo Let us be your last stop in your pursuit of a hard money loan.
Sonoma County Cloverdale Cotati Healdsburg Petaluma Rohnert Park Santa Rosa Sebastopol Sonoma Windsor We have extensive experience in most California counties including Sonoma. Call us for more information on what loans may or may not be available.
Stanislaus County Ceres Hughson Modesto Newman Oakdale Patterson Riverbank Turlock Waterford We can fund hard money loans on Stanislaus county residential and commercial real estate
Sutter County Live Oak Yuba City We are able to fund loans on land, residential and commercial properties across the state of California, including in Sutter County.
Tehama County Corning Red Bluff Tehama Tehama County private money loans are available on most property types.
Trinity County We can give you quick answers on loan options regarding Trinity County property with a quick phone call.
Tulare County Dinuba Exeter Farmersville Lindsay Porterville Tulare Visalia Woodlake We have extensive experience in most California counties including Tulare. Call us for more information on what loans may or may not be available.
Tuolumne County Sonora Looking for a Tuolumne County hard money lender? Let us help you with the financing you are looking for.
Ventura County Camarillo Fillmore Moorpark Ojai Oxnard Port Hueneme Santa Paula Simi Valley Thousand Oaks Ventura No matter what county your property is in, including Ventura, we can help fund a loan in most cases.
Yolo County Davis West Sacramento Winters Woodland Hard money loans are available for property in Yolo County.
Yuba County Marysville Wheatland Let us be your last stop in your pursuit of a hard money loan.
If you are looking to invest in real estate deals that are bigger than a regular home purchase you may want to consider a hard money lender. I know it sounds risky but it's a great way to leverage and attain a large amount of money fairly quickly without having to rely on the limitations of banks loans. Also, time is money and great opportunities don't come along often. So, if you see a deal that looks good and the numbers look profitable, you are most likely making the right decision. A hard money lender may be your best option especially if the money you need is not available from a traditional bank loan.
So, what do these hard money lenders really have to offer you? Well, they have a specialized type of backed loan specifically for real estate. These short term loans - also referred to as bridge loans, offer funding that is based upon the true value of the real estate that's been collateralized for that particular loan request. The main down-fall of these types of loans in comparison to what's offered at banks is the interest rates. Hard money loans have a much higher interest rate but the advantage is you have access to larger amounts of money that you would normally not have going with a traditional bank. The risk is simply too high for banks so they make it difficult to borrow the large amounts that hard money lenders allow. This question often comes up... So, when do investors consider hard money loans?
Well, it can often be used in large property purchases like land. For example, if you are purchasing an expensive piece of land and don't have acceptable credit, a hard money lender may be your best option. Although the interest rate will be high, it's necessary for the hard money lender to have a higher rate because they experience higher default rates and need to protect themselves in case you default on the loan.
If you are buying from someone you can follow these tips:
Step 1: Get the property appraised. Go to the lender first and see what they would lend on the property before you even structure the offer. And they will probably want to get the appraisal on that property at that point. You're borrowing on the purchased price not the value of the property.
Step 2: Arrive at the lowest price you can.
Step 3: Borrow just enough to get it bought.
Step 4: Buy the property and get the development plans done. Get the plans approved and get your estimates in place and at that time it will be easier for you to get a backend loan to pay off the seller and finish the development.
Make sure you ask questions and do your research and you're sure to buy a good property that will make you a good profit.
Both Caliprivateloans & Bryan Benson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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