Hard Money Lenders
Wilshire Quinn is a nationwide 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 competitive markets across the country.
- A nationwide direct lender, not a broker
- Pre-approval in 24 hours
- Typical funding times in five to seven days
- Loan amounts up to $20,000,000
- Foreign Nationals OK
Purchase | Refinance | Cash-Out | Rehab | 1031 Exchange
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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||6 to 18 months|
|INTEREST RATES||8% to 12%|
|ORIGINATION FEES||1 to 5 points based on location and property, LTV, credit worthiness of the borrower, loan amount and term|
|LENDING AREAS||Nationwide, with a focus on California|
Our Lending Program:
Closing Time: Typically 5 to 7 days
Loan Size: $200,000 to $20,000,000
- 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: 7.5% to 11%
Amortization: Interest-only payments
Recently Funded Hard Money Loans
PHOENIX, LAS VEGAS
Advantages of a Hard Money Loan
Whether you are looking to secure financing for a purchase, refinance, cash out, or a multiple property loan; here are some advantages to using a bridge loan also known as a hard money loan.
- Speed / Closing Time: Qualifying and being approved for a hard money loan is a faster process than applying for a traditional loan or an equity loan. Wilshire Quinn typically funds hard money loans in 5-7 days.
- Credit score not a major factor: 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.
- Opportunities: Having a bridge loan allows you to secure opportunities that you might otherwise miss out on in the housing market. Showing a seller you have been pre-approved by a private money lending institution can help you win an offer. Read more about this here: Using private money lending to win real estate bidding wars.
Looking for a hard money lender? Chat with us online to discuss your loan or call us at 619-872-6000.
Here’s What Our Borrowers Are Saying
A Proven Hard Money Lender, Lending Nationwide
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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.
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.