Hard Money Lenders (Home) » Hard Money Lending Parameters

Hard Money Loans California and Nationwide


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Lien Position:
First Trust Deed or First Mortgage

Loan Amounts:
$200,000 to $20,000,000

Nationwide, with a focus on California

Closing Time:
Typically 5 to 7 business days from application

Loan To Value:
Up to 60%

Loan to Completed Value:
Up to 60%, not to exceed 80% of the purchase price

Interest Rates:
9.0% – 12.0% fixed, interest-only

Pre-payment Penalty:

Loan Term:
6 to 18 months

Yes, for higher LTV transactions

Origination Fee:
1 to 5 points based on the location of the property, LTV, credit worthiness of the borrower, loan amount and term

Broker Fee:
If referred by a broker, all broker fees are determined before an LOI is issued and are paid out of escrow

Closing Costs:
Standard third-party costs, such as title and escrow

Typically required once final loan approval is given

Properties and Loan Types
Rehab/Significant Renovation
Non-owner-occupied Single Family
Hotels and Motels
Parking Lots/Structures
Condo Inventory
Vacation Homes and Rentals
Mobile Home Parks
Self-storage Facilities
Assisted Living Facilities
Primer Loan
Bridge Loan
Value-added Acquisitions
Recapitalizations and Partner Buyouts

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Is Wilshire Quinn The Right Lender For You?

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Investors looking to purchase rental properties
This group buys a property with the intention of renting it out, letting it appreciate over time, and/or selling it after prices increase. Typically these types of borrowers use our Fund as a short-term solution, or bridge, until they can refinance with a traditional bank at lower rates.

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Investors Who Buy, Repair, and Immediately Resell Their Property
These investors, also known as “flippers,” often find the conventional lending world reluctant to finance their projects. The properties usually require renovation, and most conventional lenders are not interested in making loans on properties in need of major repair.

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Builders obtain hard money loans because it’s quicker and easier than borrowing from traditional banks. The amount of money borrowed is more expensive; however, the lending process is faster, which sometimes outweighs the higher cost of

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Borrowers Who Cannot Refinance With a Traditional Bank
In the current lending environment, borrowers often cannot qualify for a
traditional refinance on their real estate investment, even though in many cases
there is significant equity in the property. The following reasons may be factors:
*Credit score is below 720
*Insufficient or inconsistent income to qualify for a traditional loan
*Debt-to-income levels are too high

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Business Owners Looking to Pull Cash Out of Existing Properties
Sometimes people have significant equity in properties they own; they may even own a property with no debt at all. Owners can pull cash out of their properties quickly with a loan from the Wilshire Quinn Income Fund, the proceeds of which can be used for business purposes.

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