Those looking to buy and rehab properties in California can turn to a hard money lender to help them make the purchase. This is an option that can be very profitable. Hard money loans are also available for commercial and rental properties. A hard money lender can help real estate investors make the purchase of property as quickly as possible. A hard money lender will provide a loan based on the value of the property. However, hard money loans are different than conventional loans. Unlike conventional loans, hard money loans have shorter durations. They are usually for 1-3 years. The length of the loan is also based on the value of the property.
When searching for a hard money lender in California, it is important to find one that understands the real estate business. The best lenders will offer a range of lending options to meet your needs. They will also be able to meet with you and discuss your loan options. They will also be able to help you find deals and reduce the deal friction. You can also find a hard money lender who has experience working with people with less than perfect credit. This Hard Money Lender California is important because a FICO score will not be used to determine your loan approval.
There are many different types of hard money loans to choose from. In addition to those mentioned above, you can also find lenders who specialize in fixing and flipping loans. These lenders will provide funds for fix and flip properties that need repairs. These types of properties are usually in poor condition. These types of properties will not qualify for a conventional loan.
There are also hard money lenders that specialize in non-owner occupied business purpose loans. These types of loans are based on the value of the property and the borrower’s experience. These types of loans are designed for real estate investors who need money quickly to purchase and rehab properties.
There are a number of hard money lenders in California. However, they are different than traditional banks. A hard money lender is typically more personally invested in your loan. They will have a higher tolerance for risk than traditional banks, and will be more likely to provide financing to borrowers with less than ideal credit. Hard money lenders also reduce deal friction by underwriting applications quickly and making the loan terms clear. You can also find lenders who specialize in residential properties.
The Norris Group is a hard money lender that has been providing hard money loans in California since 1997. The Norris Group has provided millions of dollars in hard money loans, and offers a great service. Their website is well designed, and they have an excellent Google profile. This makes it easy to research the company and find out more about their services.
HouseMax Funding is a hard money lender based out of Austin, Texas. This lender has a solid Google profile and provides loans for properties in all 50 states. The company also provides asset-based loan financing for investors.