Hard Money Lenders
We are Irvine hard money lenders financing commercial & residential real estate loans up to $10M. We know that time is of the essence for borrowers who may be seeking a bridge loan or hard money loan in Irvine. Wilshire Quinn excels at funding private money loans in about 5-7 days. Whether it is a purchase, refinance, cash out, or a multiple property loan; you can count on Irvine hard money lenders, Wilshire Quinn.
Purchase | Rehab | Refinance
619.872.6000 | email@example.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 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…
We specialize in many property types including:
Single Family Investment Properties
Retail shopping centers
Warehouse & Industrial
Special Use: Assisted Living Facilities, Parking Garage/Lots, Mobile Home Parks & more
Our Lending Program:
Funding in 5-7 days
Loan Amounts from $200,000 to $10,000,000
Commercial & Residential Real Estate Nationwide
Purchase, Refinance, Rehab, Cashout Refinance, Fix-n-flip, Blanket Loans
Foreign Nationals OK
Loan Term: 3 – 24 months
Irvine Hard Money Lenders – financing your commercial & residential real estate investments
Irvine is a city in Orange County located just north of Laguna Woods and Laguna Hills. In 2017, WalletHub listed Irvine as the third happiest place to live in the United States and named tenth best City in America by Niche.com.
According to Zillow, the median sales price in Irvine is $862,300. That’s a 6% increase from last year. They also forecast that the median home price will increase another 10.1% in the next year. The average price of a home in the United States, in comparison, is just over $200,000. Home prices in Irvine over the past few years have consistently risen making it worth consideration when looking at buying an investment property.
Looking to buy an investment property to rent out in Irvine? Here’s why you should consider working with Irvine hard money lenders
The cost of living in Irvine has continued to increase 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.
- The majority of Californians rent rather than owning, making purchasing a rental property a good business
- The average family size in Irvine is 2.62
- The average rent for a 2 bedroom is $2,562 and a 3 bedroom averages $3,142
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 Irvine hard money lenders 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 Irvine 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 is a California hard money lender, with experience lending nationwide. As experienced Irvine hard money lenders 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
Your Trusted Irvine Hard Money Lenders, Lending Nationwide
F.A.Q’s – 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.
Irvine Hard Money Lenders
Looking For A Bridge Loan in Irvine?
At Wilshire Quinn we control the lending process and can provide fast answers and quick closings for your real estate transactions. We are a direct lender which means we can fund hard money loans fast. We lend private hard money loans in Irvine up to $10M with funding available in about 5-7 days.
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
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: car wash, gym, parking garage, assisted living facilities, mobile home park.
Call us now at 619.872.6000 and speak directly to a loan officer. Get a pre-approval from Irvine hard money lenders within 24 hours and funding in about 5-7 days.
Submit a loan application
Partner with a direct lender you can trust.
At Wilshire Quinn you’ll get the friendly guidance you need to help you through the private money loan process. Submit a loan scenario today to quickly hear back from one of our representatives.