The Sacramento housing market has been hot. According to Redfin, in June 2024 housing prices were up over 11% from the year prior, selling in an average of 12 days on the market. With the housing marketing continuing to perform well, we are able to offer a wide range of Sacramento hard money loans and products for a wide variety of situations.
While the housing market has been great, interest rates on conventional loans are higher than they were not long ago. Many property owners have low rate first position loans that are fixed for 30 years with rates well below 5%. For those looking to tap the equity in their Sacramento area home to purchase additional investment property, expand their business or invest in other ventures, a hard money second can be an option to consider. We do a lot of hard money seconds in Sacramento, keeping the existing fixed rate loan in place while allowing access to equity in your property.
Commercial real estate in Sacramento is another area where hard money lending can assist. For the purchase of property that needs work, or for property that is vacant or does not fit debt service guidelines that the banks want to see, Sacramento commercial hard money loans can be a good tool. These private hard money loans are based on the value of the property, and do not rely on debt service ratio minimums. Utilizing short term hard money to acquire and reposition an underperforming commercial property can allow an investor to purchase at a great price, rehab, lease up and then refinance with a bankable program.
We can also assist with financing for unique properties, land, construction, cannabis properties and more. We love Sacramento properties and have many resources to help with out of the box transactions.
Our bridge loan programs can also assist in ways many do not consider. For those who are selling their existing home to purchase a new one, we have a unique short term bridge loan. These bridge loans work by placing a blanket loan across both the existing home and the new home, allowing you to close on the new purchase before your existing home sells. For those with plenty of equity - especially those looking to downsize and purchase a home free and clear of a mortgage, this can be a great way to acquire your future home before selling your current home. Close on your new home, then sell your existing home and pay off your mortgages with the sale proceeds.
While credit does play a part in the private hard money loan process, it is not the defining characteristic that you find with the banks. The loans we assist with are typically going to be more concerned with what is in your credit report rather than what your credit score is. We have helped secure funding for borrowers of all credit types - even those who have been turned down elsewhere.
We are located in Northern California and are familiar with the Sacramento area. With numerous funding sources and investors, chances are good that we can help meet your non-traditional funding needs. Whether you are looking to rehab, fix and flip, fix and hold, cash out to expand your business or obtain funding on a unique loan transaction, it is worth a phone call to discuss the options we can provide.
Sacramento is a vibrant city, offering a wide variety of things to do. It is a desirable location, with a strong housing market. We are always here to answer any questions you may have regarding non-traditional hard money loans in Sacramento!
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