Los Angeles Hard Money 2nd Mortgage Lenders
California Hard Money Direct is one of the only lenders in Los Angeles that offers 2nd mortgages for personal and business purposes. In-house underwriting means fast approval and funding. Our rates and fees are competitive and we have more 5 star reviews than any other hard money lender in the state. Contact California Hard Money Direct today to get a private 2nd mortgage.
Located northwest of central Los Angeles in the neighborhood of Sherman Oaks, you can find California Hard Money Direct conveniently located right off of Ventura Blvd. Our office is located between Allott Ave and Ventura Canyon Ave near Hank’s Bagels and Nail Therapy.
Specializing in hard money second trust deeds across California, we offer combined loan-to-value ratios from 60-65%. Our loan amounts range from $50,000 to $2 million, covering investment properties, commercial loans for business purposes, and owner-occupied properties.
Hard Money Loan Request
If you prefer to email us, fill out the form below and an associate will contact you to review the loan scenario and provide a quote.
2nd Trust Deed Lenders -
Los Angeles Hard Money 2nd Mortgages
If you already have a low-interest bank loan in the first position, it’s best to keep that loan. Adding a second-position loan allows you to access additional funds without sacrificing your favorable first loan rate. This strategy is particularly advantageous if you need funds for a short period, as you can pay off the second loan when you’re done, accruing interest only for the time you used it, and leaving your first mortgage untouched.
Give California Hard Money Direct a call, and we can assess your current first mortgage and property value to determine the amount we can offer you through a second mortgage.
2nd Trust Deeds in Los Angeles
A 2nd trust deed means there is already a trust deed on the property. Typically the 1st trust deed is the original mortgage from a bank or traditional lender. A 2nd trust deed is an additional loan or mortgage recorded against the property in 2nd position.
2nd Trust Deed Loan Rates Will Be Higher
If the borrower defaults on the 1st loan, the lender of the 1st loan can foreclose and wipe out the 2nd loan. This added risk for the lender in the 2nd position is why the rates are higher; investors in 2nd position loans have more risk and therefore higher rates.
But that doesn’t always have to be a bad investment.
Imagine a scenario where the 1st mortgage is only $100,000 but the property is worth $1 million. A 2nd loan of $200,000 would not be seen as very risky. Conversely, if there’s a $1 million loan in 1st position on a property worth $2 million, a 2nd mortgage of $100,000 would be very risky. That’s because if the borrower defaults on the 1st loan, the 1st lender can foreclose and wipe out the 2nd loan. In this case the investor holding the 2nd loan would have to bring the 1st loan current to protect their investment.
Hard Money 2nd Mortgages in California
At California Hard Money Direct, we can help you purchase a second property in Los Angeles. We offer pre-approvals and impressively low rates.
2nd Mortgages on Investment Properties in Los Angeles
Second mortgages on investment properties in Los Angeles to consolidate debt. Flippers and projectors accumulate high credit card debt with crazy interest rates. By using the equity in their properties they can consolidate their business debt with a hard money 2nd mortgage at a much lower interest rate. This consolidation will improve their FICO score. As long as the property being used as collateral has enough equity compared to the loan amount requested we can help. We are not like banks. We don’t care if the borrower has had a short sale, bankruptcy, foreclosure or has bad credit.
Funding Both Investment Properties & Primary Residences
The type of property used as collateral for a second mortgage doesn’t matter if it’s a business or consumer loan. For example a second mortgage on a commercial property to pay off personal credit cards is a consumer purpose loan. A second mortgage on a primary residence to buy business equipment is a business purpose loan. It’s all about how you structure the loan since there is no one size fits all rule for what property qualifies for a second mortgage.
The use of funds is more important than the type of property. Commercial properties, fourplexes and rental properties are considered investment properties but using a second mortgage on these for a luxury cruise would be considered a consumer loan and would likely be denied. But if the funds are needed for business debt consolidation, inventory purchases or repairs to investment properties these would be considered business purposes. For example a second mortgage on a primary residence to buy business equipment is a business purpose loan.
Private Second Mortgages in Los Angeles
The primary difference between a private second mortgage and a regular second mortgage lies in the nature of the lender. A private second mortgage is obtained from a private individual or a non-institutional entity, rather than from a traditional financial institution like a bank or credit union. These mortgages are often used to access liquidity for various purposes such as home improvements, debt consolidation, or seizing investment opportunities. The “private” aspect means the loan is not funded or regulated by conventional banks or mortgage companies.
Private second mortgages are known for their flexibility and faster approval processes compared to traditional mortgages. They are especially attractive to borrowers who may not meet the stringent criteria of mainstream lenders or who need a quicker turnaround. The private lending sector is more agile and can consider a broader range of factors, such as the property’s value and the borrower’s equity, in the decision-making process. This makes private second mortgages a viable alternative for those seeking personalized and efficient financing solutions in Los Angeles’s real estate market.
Whether you’re a seasoned investor or a homeowner seeking financial flexibility, our commitment to transparent and efficient private lending makes us the preferred choice for private second mortgages in Los Angeles.
We Offer Consumer Purpose Loans & Business Purpose Loans in Los Angeles
After the Dodd-Frank regulations were enacted, most hard money lenders ceased funding consumer second mortgages, and many also stopped offering hard money consumer first mortgages. California Hard Money Direct is one of the few lenders in Los Angeles and beyond still providing both consumer purpose hard money loans in second position and business purpose second position commercial loans.
We will ask specific questions about the use of funds to determine if the loan is consumer or business purpose. For example, if most of the borrowed money will be used for personal expenses such as debt consolidation, buying a new car, paying off a student loan or remodeling a primary residence the loan will be classified as consumer purpose. If most of the funds will be used to buy investment real estate, expand an existing business, start a new business or remodel rental properties the loan will be for business purposes.
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TIME TO FUND LOAN |
As few as 7-9 days if needed |
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LOAN SIZE |
$50,000 – $20 million+ |
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LOAN TERM |
Up to 12-48-month terms available |
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LIEN POSITION |
2nd |
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LOAN TO VALUE (LTV) |
Up to 65% of combined total loan to value |
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LOAN APPLICATION APPROVAL TIMELINE |
Same day pre-approval available |
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PROPERTY TYPES |
Single family, multi-family, commercial, industrial & mixed-use |
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PURCHASE LOAN INTEREST RATES & POINTS |
Rates and fees fluctuate with the market. 12% is the current average range for 2nds. Call or email for information on current rates and points |
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Why More Borrowers Choose California Hard Money Direct for Second Mortgages
With many years in the lending industry, we have a proven track record of delivering results and a long history of keeping promises and funding on time. Partner with a lender that has the knowledge, resources, and experience to close your deals quickly. By working directly with us, you can cut out the middleman.
We offer same-day pre-approvals, and most loans can be funded within 7-9 days. Our interest rates and fees for hard money loans are among the lowest in the industry. Call now to compare for yourself.
Our reputation speaks for itself. With more five-star reviews on Google than almost any other lender, our satisfied customers highlight why so many clients repeatedly use California Hard Money Direct for all their hard money needs.
Recently Funded Hard Money 2nd Mortgages in Los Angeles
Read what other borrowers have to say about working with our hard money 2nd mortgage lenders in Los Angeles:
Francis Ezewiro
I sincerely enjoy the high level of commitment and passion Judy brings to the table during the loan process. From the first day we spoke on the phone through the day the loan was financed, Judy was with me. She responded to any questions I had thoroughly and promptly. If need arises, I would use Judy again. Also, I would highly recommend Judy to anyone that seriously needs funding for investments and flips.
Paul Moresi
Judy is the type of person who follows through and moves FAST. She was also very sweet and a pleasure to work with. I would recommend California Hard Money Direct for anyone in need a quick loan to finish a project. They were a great resource for me.
Lisa Sanchez
Thank you Judy for all of your help. Judy is an amazing broker, she is very helpful throughout the process. She is quick and is very Organized. Judy knows her stuff…. and will not drag you along the process… Its either she can do it or not. … I will continue to come back, Thank you Judy.
