Hard Money Lender
Wilshire Quinn is a San Francisco hard money lender, financing real estate investments up to $20 million. We work fast, turning loans around much quicker than traditional lending institutions, because we know time is critical for borrowers looking to invest in San Francisco’s competitive market.
Finance Your Next Transaction With Wilshire Quinn
- A nationwide direct lender, not a broker
- Pre-approval in 24 hours
- Typical funding in five to seven days
- Loan amounts up to $20 million
Purchase | Refinance | Cash-Out | Rehab | 1031 Exchange
Apply for a Hard Money Loan
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|CLOSING TIME||Typically 5 to 7 days|
|LOAN SIZE||$200,000 to $20,000,000|
|LTV||Up to 60% LTV and 60% of ARV for rehab loans, not to exceed 90% of the purchase price|
|LIEN POSITION||First Trust Deeds Only|
|LOAN TERM||3 to 24 months|
|INTEREST RATES||7.5% to 11%|
|ORIGINATION FEES||1 to 5 points based on location and property, LTV, credit worthiness of the borrower, loan amount and term|
|LENDING AREAS||Nationwide, in metropolitan and coastal areas|
Single-family Investment Properties
Special Purpose & Mixed Use
Our Lending Program:
Closing Time: Typically 5 to 7 days
Loan Size: $200,000 to $10,000,000
- LTV: Up to 60% and 60% of ARV for rehab loans, not to exceed 90% of the purchase price
Lien Position: First Trust Deeds
Loan Term: 3 to 24 months
Interest Rate: 8.5% to 12%
Amortization: Interest-only payments
What is a Hard Money Loan?
A hard money loan is a short-term loan also known as a bridge loan, that is used until a person or company either secures permanent financing or removes the obligation through the sale of the property. Hard money loans generally have higher interest rates than conventional or bank loans, and are written for shorter periods of time. Typical hard money loans or bridge loans are 12 to 18 months in length. Wilshire Quinn loans do not exceed 60% of the appraised value of the property securing the loan.
Who Typically Uses a Hard Money Loan
- Business owners looking to pull cash out of existing properties
- People who want to close quickly
- Borrowers who have multiple properties looking to cross collateralize
- Investors looking to purchase rental properties
- Investors who buy, repair, and immediately resell their property (Flippers)
- Borrowers who cannot refinance with a traditional bank
- Builders and more…
San Francisco Hard Money Lender – Winning The Real Estate Bidding War
San Francisco the nation’s fifth-most densely populated county, is culturally diverse and serves as the financial center of Northern California. Home to the world’s most innovative industries, the Bay Area economy is growing at a rate three times faster than the rest of the country, generating $781 billion in gross domestic product in 2016. Neighboring Silicon Valley lays claim to the world’s largest high-tech corporations, including the headquarters of 39 businesses in the Fortune 1000 and thousands of startup companies.
Let’s take a look at the San Francisco, CA market summary from 2022
- The median rent for all bedrooms and all property types in San Francisco, CA is $3,600
- In the last year, rent has increased by $305 compared to the previous year
- Rent in San Francisco, CA is 71% higher than the national median.
The Bay Area’s housing market is hot. With a low housing supply and high demand, people are bidding up the price and homes are selling way over the listing price. It’s the perfect storm. According to a report by Zillow, 68.5% of homes sold went for more than the asking price. So how do you compete in this market?
Consider private money
Given the intense competition between buyers, sellers are increasingly requiring all-cash offers. Furthermore, sellers are also shortening escrow lengths and less willing to grant extensions. Obtaining a hard money loan from a private money lending institution can help in this scenario.
Getting a pre-approval letter from a San Francisco hard money lender can strengthen your position and help you win the bidding war. Unlike traditional lenders, private money lending institutions focus more on a property’s equity relative to the borrower’s credit score. The underwriting and funding process can take place in a matter of days instead of weeks or months. Wilshire Quinn continues to fund hard money loans in San Francisco and across the nation.
Asset Based Lending
Asset-based lending means we base our loan amounts on the value of real estate, such as an investment property, multifamily building or commercial building, rather than strictly considering credit score and debt-to-income levels. Wilshire Quinn takes pride in its common-sense, equity-based lending. Wilshire Quinn is a San Francisco hard money lender with a strong track record. Thanks to years of experience, we are equipped to handle even the most complicated of lending scenarios, and care more about the real estate you are purchasing or refinancing than inflexible bank requirements.
Here’s What Our Borrowers Are Saying
A proven San Francisco hard money lender, lending nationwide
Recently Funded Hard Money Loan Transactions
LOS ANGELES, CA
Loan Amount: $16,025,000
Loan Type: Blanket Refinance
Property Type: Hospitality
Term: 12 Months
Loan Amount: $2,520,000
Loan Type: Purchase
Property Type: Assisted Living
Term: 12 Months
LOS ANGELES, CA
Loan Amount: $10,675,000
Loan Type: Refinance
Property Type: Parking Structure/Retail
Term: 12 Months
LAKE OSWEGO, OR
Loan Amount: $1,500,000
Loan Type: Purchase (Blanket)
Property Type: Single-Family
Term: 12 Months
FAQs – Hard Money Loans
A hard money loan is a real estate-backed loan where a borrower receives funds secured by equity in their property (or properties). Hard money lenders like Wilshire Quinn are mainly focused on the equity in the property as opposed to borrower credit and financials. Hard money loans are typically short-term ranging from six months up to two years.
Hard money lenders like Wilshire Quinn primarily focus on a property’s equity to secure the loan. The borrower’s credit is considered, but is not a primary determinant in the underwriting process.
After receiving a signed term sheet, Wilshire Quinn typically funds a loan in five to seven business days.
Wilshire Quinn will consider a wide variety of property types including: office, retail centers, industrial, hotels, parking lots/structures, condo inventory, entitled land, multifamily properties, non-owner-occupied single-family homes, vacation homes and rentals, primer loans and bridge loans.
We will consider a wide variety of loan types including: purchase, refinance, cash-out refinance, partnership buyouts, rehabs, 1031 exchanges and value-added acquisitions.
You can either complete our online loan application, email or call us. We would prefer to talk through your loan scenario directly, as we can determine in a matter of minutes, once we have a few simple questions answered, if we have interest.
Our interest rates typically range from 8.5% to 10.5%, interest-only. Lender origination points typically range from 1% to 5% of the loan amount. The borrower pays for standard closing costs (title, escrow, legal).
Most of our portfolio is in California but we do have the ability to lend nationwide. We strongly prefer to lend in major-metropolitan areas.
San Francisco Hard Money Lender
We can fund hard money loans fast
At Wilshire Quinn we control the lending process and can provide quick answers and closings for your hard money lending needs. We are a direct San Francisco hard money lender, which means we can fund hard money loans quickly.
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