We can help you obtain funding for San Diego hard money rehab loans. With a number of options available, we can structure a program that will fit your needs. While we can help with funding of hard money rehab loans throughout California, we have a number of investors local to San Diego, and due to this we have some additional flexibility available.
Most of our hard money rehab loans in San Diego will fund up to 65% of the ARV of the property. ARV is the after repair value, and is calculated on the completed project. Whether it is a light cosmetic rehab, a major rehab, a project where additional square feet are being added, or even a ground up or construction completion project, we are able to use the completed value for the basis of your loan.
Using the completed value for the basis of your loan allows us to maximize the amount of leverage we can provide. Because we are using the completed value as the basis of the hard money loan, we will structure these loans to include a fund control account for the work to be done. These funds will be controlled and released as the project progresses. In addition to a fund control account, we also will typically structure these loans with an interest reserve account, so that prepaid interest is funded into the loan. The means you have no out of pocket payments due for a set period of time. Between the fund control account and the interest reserves the goal is to have no additional out of pocket expenses for the duration of the project. We want you to focus on getting the work done and the property sold!
Our San Diego hard money rehab loans do have some flexibility. There are times when we can go higher than 65% of the ARV. There are also times when we can help you finance all or most of the project by bringing in an equity partner or gap funder. We have some programs that will structure multiple loans, allowing you to come in with 10% of the purchase price and debt service on your own, funding the rest of the project.
On the other side of the coin, we also have some lower cost options for investors who do not need as much leverage. Single digit rates and lower fees are available based on how conservative the deal may be.
The best thing to do is to give us a call. We are happy to discuss all San Diego hard money rehab loans - or any hard money loans throughout the state of California for that matter. Usually a brief upfront call is all we need to give you a good idea of how we can help. You can reach us directly at 877 462 3422, or you can visit our main site for more information on San Diego hard money rehab loans.
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