Valor Lending Group is the best California Hard Money Lender. What is a hard money loan? Why would I use a Hard Money Loan compared to conventional financing? What are the rates and terms from the best California Hard Money Lender?
Hard money loans are becoming increasingly more and more popular for investors. They normally have easier qualifications, quicker close of escrow timelines, and allow you to qualify when conventional financing is a option.
It is essential to know when hard money is right for your scenario, because in the right circumstances it is an indispensable tool for every real estate investor, providing a quick and versatile way to acquire real property in a timely manner.
What is a Hard Money Loan?
A hard money loan is type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private companies and /or private investors. These loans offer many advantages such as quick closes of escrow, temporary financing to get ownership of the property, great option for people with less than good credit, and out of the box financing.
Types of Hard Money Loans?
There are many types of hard money loans available for almost every loan scenario
- Ground Up Construction
- Fix and Flip
- 1-4 Unit Residential Purchase
- Cash Out Refinance
- Commercial
What Are The Rate And Terms of a Hard Money Loan?
Hard money loans have terms are normally 12-36 months but can be longer. Rates are typically between 7-12%, but can vary due to type of asset, Loan to Value, and use. Mostly with interest-only payments so the month payment is low to make sure the payback to the investors. Fees charged on hard money loans will generally include 2-5 origination points, but also can vary on a case by case basis.
Hard money loans are a powerful tool for real estate investors. They are quick and flexible, providing same-as-cash purchasing power. Hard money loans are also the most viable option for financing renovations or other value add projects. If you would like to discuss your hard money options, please give Adam Lawrence today at 858-344-0323.
What else can Valor Lending Group do for you?
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 5% down Jumbo’s with NO MI up to $2mm / 10% down up to $3mm
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
Check out more of what we offer. Check out Valor’s Mortgage News to learn more!
CALL MICHAEL BULLARD TODAY FOR ALL AND EVERY LOAN SCENARIO (619) 723-8623 or MBULLARD@VALORLENDING.COM
