California Hard Money Loans
Hard Money Loans for Real Estate Purchases & Refi’s in California
California hard money loans funded by California Hard Money Direct are exclusively for property owners and investors throughout California. We can assist you in completing purchases or refinance loans regardless of whether they are owner-occupied or non-owner-occupied investment properties.
In addition, we offer commercial and industrial loans as well as fix and flip loans. We are here to assist you regardless of your real estate goals. Our range of loan products is vast. Our experience in the industry and our impeccable reputation makes us an excellent choice for all your loan needs.
Hard Money Loan Request
California Hard Money Direct is proud to help residents and investors obtain the California hard money loan that they need to complete their purchase quickly and hassle-free.
Learn more about how our California hard money loans can help you no matter your goals or type of funding you need.
A bridge loan is basically just as the name would imply. A short-term loan whereby the property owner typically takes a loan against their existing property to complete the purchase of the new property. It is a short-term loan. As soon as the new property is purchased, the original property is sold at which time the loan is paid off.
Bridge loans are most used by investors sitting on lots of available equity. The equity can be from one of more properties. If the borrower is short of money to close on the new purchase, they tap into existing equity for a short-term bridge loan.
Trust loans facilitate beneficiaries and successor trustees the opportunity to borrow against real estate owned by the trust. Most commonly the funds are used to help divide interest in the real estate among the beneficiaries or for trust expenses.
Irrevocable trust loans are most used when one of the beneficiaries plans on keeping the real estate while other trust beneficiaries want to go their separate way. Some of these conflicts can get complicated. This is when you need an experienced lender to make the loan transaction go smoothly. The irrevocable trust loan is made directly to the trust. Once this portion is completed the buyout proceeds can be distributed to the other beneficiaries. If desired, the beneficiary keeping the property can apply for proposition 58. This proposition prevents a property tax reassessment for parent to child transfers.
Probate Loans, Estate Loans & Inheritance Loans
Probates can get expensive. One way to effectively handle the cost are probate loans. A probate loan can take care of such matters as Mortgage expenses, property taxes, legal expenses to name a few.
There is no official definition of what exactly constitutes a reasonable expense during probate, but many have established case law to support them. In short, any expenses that are incurred by the personal representative while carrying out their duties should be considered reasonable and covered by the Estate.
This would include any costs associated with administering the Estate, such as:
- Funeral expenses
- Costs associated with marketing and selling the property
- Fees of any professionals who have been instructed, such as a Probate Specialist, a surveyor or appraiser
- Settling income or inheritance tax
- House clearance costs
- Gardening and house maintenance
Estate loans from California Hard Money Direct make the process much less daunting. We will walk you through the process so that the title can transfer from a parent to a child without a reassessment of the property. Avoiding the reassessment can translate to a very large saving in property taxes every year moving forward.
Cash-Out & Refinance Loans
Cash-out refinance loans just may be the most popular loan we offer. It allows real estate investors to take cash out of a property and move it over to other investment opportunities. The opportunities might be other real estate but can me so much more. It might be business expansion or a myriad of other things.
California Hard Money Direct can facilitate getting cash out of non-owner investment properties or owner-occupied properties. They typically take between 7-9 days for non-owner. However, when it comes to owner-occupied it is a different story. Federal regulations dictate very specific criteria that must be met. As such these take on average 21 days or so.
Hard Money Loans in California
At California Hard Money Direct, we specialize in lending to property owners and real estate investors and flippers in California.
Distressed Property Loans
Distressed property loans are commonly used to purchase foreclosures, short sales or REO’s. These are properties that cannot be financed through traditional sources. The category of properties we are speaking of here are typically being purchased in disrepair. This would be the biggest reason traditional lenders would be uninterested in providing loans. Hard money lenders find them appealing because we see the upside. Once the property repairs have been made, the borrower can refinance into a conventional loan thereby decreasing their interest rate substantially. In addition to decreasing the interest rate, they will also be able to get into a much longer-term loan.
Investment Property Loans
Investment property loans funded by California Hard Money Direct put investors in a position to be competitive when making offers. Regardless of whether it is a multi-family, single-family, apartment building or commercial property we can help. Hard money investment property loans most of the time are funded in a matter of 7-9 days. Minimal paperwork and personalized service.
Fix & Flip Loans
(Also known as rehab loans or ARV loans)
Fix and flip loans also known as rehab loans can be structured in many ways. There is no set way of delineating a fix and flip loan. Every lender has a slightly different slant. However, the one thing they all have in common is they are short-term loans. They are designed for real estate investors to purchase properties with tremendous upside potential. The investor then modifies the look of the property either by cosmetic changes or grand scale changes. In many cases, the changes may include square footage increases. Once the changes have been made the concept is to sell the property for a worthwhile increase in price.
Owner-Occupied Hard Money Loans
California Hard Money Direct is one of a handful of hard money lenders willing and able to offer owner occupied hard money loans. There are strict government guidelines we must follow to provide approval and funding. The biggest obstacle the borrower must overcome is being able to prove income. The borrowers can use W-2’s or tax returns. If the income is substantial enough that the debt-to-income ratios stay within federal regulations, chances are very good the loan will be granted. Down payment requirements are typically 30% to 35%
Recently Funded Hard Money Loans in California
Hard Money Purchase Loans
Hard money purchase loans are typically offered to real estate investors seeking a fast-closing time. In a competitive market, it is common for a listing to receive multiple bids. As such, cash buyers or hard money buyers typically go to the top of the priority list. Selling agents clearly understand hard money loans will be funded at a significantly faster pace. Not only faster, far less complications than a traditional loan.
Commercial Hard Money Loans
California Hard Money Direct offers commercial hard money loans for a multitude of property types. The most common would be multi-family, retail, office buildings and industrial. Borrowers can use our services for purchases or refinance loans.
Land loans can be offered in major metropolitan areas with large down payments. Typically, the down payment must be 40% to 50%. Lots surrounded by a lot of existing development will have the greatest potential for loan approval. The lot must be deemed very buildable.
Construction Completion Loans
California Hard Money Direct Offers Construction completion loans. Completion loans are offered when the borrower has already started construction and has advanced the project to a large degree. The borrower has reached the point where they need supplemental funds to complete the project. Oftentimes they find themselves in this dilemma because they have run into unforeseen issues or underestimated the total cost of the project from the start. Whatever the reason might be, if the numbers make sense, we will lend them the money.
Multi-Family Hard Money Loans
Refinance Reverse Mortgage Loans
It is virtually impossible to get a conventional bank to provide a reverse mortgage refinance. The simple reason is that the individual’s name is not on the title. Typically, the borrowers seeking our services have inherited a property already in a reverse mortgage. The first step they must take is to get the property out of the reverse mortgage and into their name. Once this step has been taken, if they plan on keeping the house, they can apply for a conventional loan.
(Also known as nonconforming loans)
More and more borrowers these days are finding themselves unable to qualify for a bank loan. Not because their credit score is not high enough but because they have so many tax write-offs they cannot prove their financial wherewithal. Rather than go directly to a hard money loan there is sort of a midway point. This is called a non-QM or nonconforming loan. In this scenario, if the borrower can prove income through bank statements they likely will qualify. The bank statements show the flow of money coming in versus the amount of money going out. This method is used to determine debt versus income ratios. If the borrower has a good credit score and their debt to income ratios are at approximately 46% or better, a non-QM loan could be an excellent option. Interest rates for this type of program start at 4.99% and go up from there. The loans are offered for both non-owner as well as owner-occupied properties. These are for residential properties exclusively.
Read what other borrowers have to say about our California hard money loans
I have just closed 4th loan with Judy. She was able to arrange this one with the money that came from the same investor who did my 3rd loan. I refinanced my previous purchase and money was wired to the investor’s bank account. It stayed on her account for a couple days and was wired to the new escrow to fund my new purchase. Wow, Judy is so efficient! Because of her outstanding professionalism people like me can win bidding wars in very competitive markets like San Francisco and at the same time the investors’ money is working non-stop earning very good return. It is a win-win situation. Thank you, Judy for making this process so smooth. Can’t wait to do my next loan.
I have been doing hard money since I was licensed in 1997. And in the past few years I have dealt with several hard money groups who did not meet the expectations they created. California Hard Money Direct was an outstanding team. That was not only fast but upfront. I shopped my client with three other investors over two months. This group was able to come through quickly. If you are looking for hard money in California call Judy and her team first, you will not be disappointed.
I am an investor. I’ve been working with Judy for years. I’ve probably funded about 20 loans with her. I can count on her to be professional, honest, smart and efficient. It is a pleasure to work with her.
Hard Money Loans in California
Hard money real estate loans are considered a reliable quick choice for California investors in need of a quick closing for a purchase or to borrow against existing property in their portfolio. If you have 30% to 35% as a down payment regardless of credit the likelihood is very high, we will be able to help you. If it is a refinance you need, as long as there is enough equity in the property you will most likely qualify for a hard money loan.