Del Mar
Hard Money Lender
Wilshire Quinn is a Del Mar hard money lender with offices in San Diego, Los Angeles and San Francisco. We are a direct private money lender; we are not a loan broker. We know that time is of the essence for borrowers who may be seeking a bridge loan or hard money loan in Del Mar. That’s why Wilshire Quinn will work with you to fund your loan in just a matter of days. Whether it is a purchase, refinance, cash out, or a multiple property loan; you can count on the premier Del Mar hard money lender, Wilshire Quinn.
619.872.6000 | loans@wilshirequinn.com
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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 funds Del Mar hard money loans not exceeding 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…
Del Mar Hard Money Lender – financing your residential and commercial real estate investments
The San Diego rental market is hot and projected to continue to rise through 2019. Most large metropolitan cities around the US are experiencing a similar trend, however Coastal San Diego cities like Del Mar are seeing exceptional growth in the rental market.
Del Mar nestled on the coast of the Pacific Ocean in San Diego county is known for its beautiful beaches, the Del Mar horse races and the San Diego County Fair. Del Mar is Spanish for “of the sea” or “by the sea,” which reflects its location on the coast of the Pacific Ocean.
Recent statistics show that investing in a Del Mar real estate project might be a safe bet. The economy has steadily bounced back in San Diego since the 2008 recession. Del Mar residents have a higher average income and the city has a lower crime rate than many nearby areas. 94.49% of the population in Del Mar have white collar jobs and a median household income in the area over $350,000 for a family of four.
- Average household size – 2.53
- Households with kids under 18 – 325
- Single family homes – 62%
- Multi-family units – 38%
- Renter-occupied housing 45.4%
While the area is definitely dominated by smaller families and single family homes, it’s clear there is a huge rental market here, with 45.4% of the population renting their home. Rents have steadily risen in San Diego and are projected to continue. As of January 2017, the average rent within San Diego itself was $2113 monthly. Average rents for a two bedroom apartment were a little higher at $2240. The coastal city of Del Mar has more luxury homes and considering most Del Mar residents need at least a 2 bedroom, the rents in Del Mar are on the higher end of the range.
Looking to buy an investment property to rent out? Consider working with a Del Mar Hard Money Lender
The cost of living in San Diego has continued to increase over the past 10 years making home ownership difficult for people. Many Americans desire the single-family home lifestyle but just cannot afford to buy into it. Also, Millenials are delaying getting married and have massive school debt, and are not buying real estate. The number of Americans renting is incredibly high, leaving a great investment opportunity in rental income properties.
Rental properties have recently created a stable vehicle for investing money and creating wealth. As many look to purchase an investment rental property, some look for a Del Mar hard money lender to finance their real estate purchase. Unlike traditional lenders, private money lending institutions focus more upon on the equity in a property 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 Del Mar 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 on your credit score and debt to income levels. Wilshire Quinn takes pride in our common sense equity based lending. Wilshire Quinn Capital is a Del Mar hard money lender, with experience lending nationwide. As an experienced hard money lender we can handle even the most complicated of lending scenarios and care more about the real estate that you are purchasing or refinancing than inflexible bank requirements.
Know Our Borrowers
Del Mar Hard Money Lender – Offices in San Diego, Los Angeles and San Francisco
F.A.Q’s – Hard Money Loans 101
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.
Trusted Del Mar Hard Money Lender
Ready to Finance a Real Estate Investment?
At Wilshire Quinn we control the lending process and can provide fast answers and quick closings for your hard money lending needs. We are a direct lender which means we can fund hard money loans fast. We lend private hard money loans in Del Mar, Carmel Valley and Coastal San Diego up to $10M with funding available in about 5-7 days.
Streamlined Process & Approval within 24 hours
Funding typically in 5-7 days
We are a Direct Lender; not a broker
Foreign nationals – OK
Refinance, purchase, blanket, refinance, rehab loans
Commercial, residential, multifamily, most property types considered
Special use buildings like: car wash, gym, parking lot, assisted living facility, mobile home park.
Call us now at 619.872.6000 and speak directly to a decision maker. Get a pre-approval from a Del Mar hard money lender within 24 hours and funding in about 5-7 days.
Wilshire Quinn Capital, Inc.
2550 Fifth Avenue, Suite 1070
San Diego, CA 92103
E: loans@wilshirequinn.com
P: (619) 872-6000
F: (619) 872-6010
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Partner with a direct lender you can trust.
Customer Service
At Wilshire Quinn you’ll get the friendly guidance you need to help you through the Del Mar hard money loan process. We’ll make sure the loan terms work for you and for your project or we won’t fund the loan. Submit a loan scenario today to quickly hear back from one of our representatives. If you are looking for a Del Mar hard money lender, call us today!
