San Diego
Hard Money Lender
We are a San Diego hard money lender financing commercial and residential real estate up to $10M. As a direct hard money lender, we are able to pre-approve our borrowers in 24 hours and fund a loan in about 5 days. Whether it be a purchase, refinance, cash-out, or a rehab loan, you can count on Wilshire Quinn to fund your loan quickly.
619.872.6000 | loans@wilshirequinn.com
Apply for a Hard Money Loan
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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 Income Fund 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…
Recently Funded Hard Money Loans
LOS ANGELES, CA
Loan Amount: $16,025,000
Loan Type: Blanket Refinance
Property Type: Hospitality
Loan-To-Value: 43%
Term: 12 Months
DENVER, CO
Loan Amount: $2,520,000
Loan Type: Purchase
Property Type: Assisted Living
Loan-To-Value: 59%
Term: 12 Months
LOS ANGELES, CA
Loan Amount: $10,675,000
Loan Type: Refinance
Property Type: Parking Structure/Retail
Loan-To-Value: 52%
Term: 12 Months
LAKE OSWEGO, OR
Loan Amount: $1,500,000
Loan Type: Purchase (Blanket)
Property Type: Single-Family
Loan-To-Value: 61%
Term: 12 Months
We specialize in many property types including:
Multifamily
Single Family Investment Properties
Retail shopping centers
Office Buildings
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
Loan-To-Value: 60%
Commercial & Residential Real Estate Nationwide
Purchase, Refinance, Rehab, Cashout Refinance, Fix-n-flip, Blanket Loans
Foreign Nationals OK
Loan Term: 3 – 24 months
Know Our Borrowers
Premier San Diego Hard Money Lender, Lending Nationwide
Advantages of a Bridge 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 bridge loan is a faster process than applying for a traditional loan or an equity loan. Wilshire Quinn typically funds bridge 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.
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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.
Customer Service
At Wilshire Quinn you’ll get the friendly guidance you need to help you through the private 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.
