Your Trusted
New York Hard Money Lender
Wilshire Quinn is a New York hard money lender, financing real estate investments up to $10 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 New York’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 $10 million
Purchase | Refinance | Cash-Out | Rehab | 1031 Exchange
Apply for a Hard Money Loan
Get started by completing the form below and an associate will reach out to get your loan details.
To Speak With A Representative
Call (619)872-6000
Lending Parameters
| 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% |
| AMORTIZATION | Interest-only payments |
| 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 |
Property Types
- Condominiums
Special Purpose & Mixed Use
Gas Stations
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
What is a Hard Money Loan?
A hard money loan, also known as a “bridge loan,” is a short-term loan 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 last 12 to 18 months. 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…
Here’s What Our Borrowers Are Saying
A Proven New York Hard Money Lender, Lending Nationwide
Let Us Help You Take a Bite of the Big Apple
New York City is the busiest, most-populated metropolis in the country. With more than 8.6 million residents occupying the 22.7-square-foot island of Manhattan and its four outer boroughs, real estate comes at a premium.
Just like the city itself, the housing market is fast-paced and dynamic, consistently ranking among the most competitive markets in the U.S. New York also has the nation’s second-highest rental rates, after San Francisco. The majority of New Yorkers rent. According to U.S. Census data, about 51 percent of the city’s housing units are renter-occupied, compared to 41 percent that are owner-occupied. And that statistic doesn’t only apply to the droves of post-college millennials flocking to the city with big dreams. In NYC, renters outnumber homeowners in every age group, from 25 to 75.
This means there is tremendous opportunity for investors looking to purchase rental properties in New York. And a trusted New York hard money lender like Wilshire Quinn can be the bridge to help you take that first bite of the Big Apple and make a smart investment that will lead to long-term financial success.
“If you collect a portfolio of say 15 apartments and rent them out—studios, one-bedrooms and two-bedrooms—you can make a six-figure income from your investments,” says New York realtor Julia Hoagland of Compass.
Looking to Invest in a New York rental property? Consider the following:
- The majority of New Yorkers rent rather than own, making rental properties a solid investment
- The cost of living in New York City has continued to rise over the past 10 years, contributing to the city’s high number of renters
- Housing inventory remains the most influential and persistent factor affecting prices
- Purchasing a condo is less restrictive than a co-op
- Apartments with one or two bedrooms are the most in-demand and easiest to rent
As a New York Hard Money Lender, We Care More About the Real Estate Being Purchased Than Your Credit Score
Asset-based lending means we determine our loan amounts based on real estate value, rather than solely considering credit score and debt-to-income levels. We aren’t limited by inflexible bank requirements. Wilshire Quinn takes pride in its common-sense, equity-based lending. As a New York hard money lender, we are equipped to handle even the most complicated of lending scenarios. Unlike traditional lenders, we care more about the real estate being purchased or refinanced, and our underwriting process can take place in a matter of days, instead of weeks or months. Wilshire Quinn specializes in hard money loans for investment properties and commercial real estate in New York and across the nation.
Asset Based Lending
Asset based lending means we base our loan amounts on the value of real estate 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 New York 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.
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.
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