We specialize in helping investors finance property with hard money loans. One program we want to highlight is our Los Angeles hard money purchase loans up to 80% of value.
These loans are for investors only, we cannot help finance owner occupied properties or other consumer purpose loans on this program. The loan to value is typically based on experience, with some credit requirements. Typically speaking, as long as you have owned at least one property in the past twelve months and have a mid credit score above 579, we can help you obtain a purchase loan of up to 80% of the as is value. With lower credit or less experience the loan to value will decline a little.
The exciting thing about this program is that it is based on the value, not the purchase price. So if you are buying below market, this program could fund more than 80% of the purchase price.
With that being said, it does cap out at 90% of purchase price, regardless of the value, but for a hard money purchase loan, this is a great product that can allow for tremendous leverage for real estate investors.
In addition, these loans can be made on properties in need of repair. The repairs do not need to be made before closing. The repair money does not even need to be held in a fund control account - this program allows investors do do the rehab out of pocket. We will need to verify that you have access to funds sufficient to cover the rehab costs, but we will not require those funds to be a part of the loan.
While these loans are highlighted as Los Angeles hard money purchase loans, we can help throughout the state of California. In major metro areas, the loan to value ratios are going to hold true. In areas that are not major metro areas, however, the loan to value ratios may be reduced by 5% or more.
For more information, give us a call today at 877 462 3422. Typically we can give you a good idea of how we can help with a brief ten minute conversation. You can also visit us online to learn more about hard money loans for investors in California.