|Lender Name||Loan Amounts||Property Types||Loan Types||Max. LTV||Rates|
Mission Viejo, CA
|$50K - $5M||Residential, Commercial, Land||Purchase, Refi, Cash Out, 1st or 2nd, Owner & Non-Owner Occ.||75%||7.99 - 15%|
San Diego, CA
|$50K - $3M||Residential, Commercial||Purchase, Refi, Cash Out, Owner & Non-Owner, 1st or 2nd||75%||7 - 10.99%|
Los Angeles, CA
|$50K - $2M||Residential, Commercial, Land||Purchase, Refi, Cash Out, Rehab up to 90% costs, 1st, 2nd, Gap||70%||8 - 12%|
San Diego, CA
|$200K - $10M||Residential, Commercial||Purchase, Refi, Cash Out, Rehab, Construction, 1st or 2nd||75%||9 - 12%|
Los Angeles, CA
|$100K - $4M||Residential, Commercial, Land||Purchase, Refinance, Equity Cash Out, Rehab, 1st or 2nd||75%||8.5 - 12%|
Redondo Beach, CA
|$100K - $4M||Residential,
|Purchase, Bridge Loans, Cash Out, Refi, Access to REO & Short Sales||75%||8.5 - 11%|
San Diego, CA
|$50K - $2M||Residential, Commercial, Land||Purchase, Refinance, Equity Cash Out, Rehab, Construction||70%||9.99 - 12%|
Los Angeles, CA
|$2M - $10M||Commercial, Residential, Land||Refinance, Cash Out, Purchase, Commercial Construction, 1st or 2nd||75%||6.99 - 12%|
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$1,200,000 private money bridge loan secured by a tenant-occupied single family residence in La Quinta, south of Palm Springs, CA. The Borrower needed to cash out some equity on the home to use for other investments. Carl paid off the previous 1st mortgage of $705,000 and provided the needed cash. The estimated value is around $1,800,000 so the loan-to-value is 66%. The Borrower plans to refinance or sell another property to pay off this 1st trust deed private mortgage within 2 years. This private mortgage loan was funded in July 2015.
$159K Hard money loan for the purchase and rehab of a vacant single family home in Moreno Valley, California. The purchase price was $177K and rehab costs are estimated at $15,000. Corey's firm funded 82% of the total costs, the Borrower put down just 18% in cash. He plans to rehab and sell for approximately $260,000 so the loan-to-value is 61%. The loan term for this 1st trust deed private mortgage is six months and it was funded in April 2015.
$171K Private hard money loan for the purchase and rehab of a vacant single family home in Riverside, California. The purchase price was $190K and rehab costs are estimated at $15,000. Corey's firm funded 83% of the total costs, the Borrower put down just 17% in cash. He plans to rehab and sell for approximately $270,000 so the loan-to-value is 63%. The loan term for this 1st trust deed private mortgage is one year and it was funded in March 2015.
$100K Hard money loan for a single family home fix & flip project in San Jacinto, Riverside County. The purchase price was $112K, the rehab cost is estimated at $20K. The Borrower put down 10% cash, Corey's firm funded the rest of the costs. The Borrower plans to complete the rehab and flip back onto the market for around $160,000 so the loan-to-value on this rehab bridge loan is 62% LTV. This private mortgage was funded in March 2015.
$214K Hard money loan for a single family home fix & flip project in Riverside. The purchase price was $240K, the rehab cost is estimated at $18K. The Borrower put down 11% cash, Corey's firm funded the rest of the costs. The Borrower plans to complete the rehab and flip back onto the market for around $330,000 so the loan-to-value on this rehab bridge loan is 65% LTV. This private mortgage was funded in February 2015.
$910K Private money refinance loan secured by a 4-unit retail property in Riverside, CA. The Borrower was cross defaulted with his previous lender because they stopped funding a construction loan on a lot he purchased in 2007. The previous lender was willing to take the payoff and release him from his liability on the underfunded construction loan. The estimated value of the property is $1,800,000 so this bridge loan is only 50% LTV. The Borrower brought in all the closing costs in cash and Wilshire funded in just 8 days. This private mortgage was funded in January 2015.
$1.65M Private money bridge loan secured by 3 investment properties in Riverside and San Bernardino County, CA. The Borrower is an experienced home builder who had a prior relationship with the lender. He needed to cash out equity on his properties to use for a large construction project. The properties that were used as primary collateral for the loan were 40 acres of entitled land in Riverside and a 72-acre parcel in Menifee. The loan was also cross collateralized by a luxury lakefront home in Lake Arrowhead, consisting of 16,000 square feet, 10 bedrooms, and 17 baths. The combined loan-to-value for this bridge loan is just 25% LTV, and the loan term is 1 year. This private mortgage was funded in January 2015.
$150K Private money bridge loan for a single family rental home in the Riverside, east of Los Angeles. The Borrower needed to cash out equity to use for other investments. The property is a 1,200 square foot 3-bedroom 2.5 bath home on 0.38 acres and currently tenant occupied. The estimated value is $240K so the LTV of this bridge loan is 62.5%. The loan term is 2 years. This private mortgage was funded in October 2014.
$30k private hard money bridge loan secured by a 2nd trust deed on a residential property in Riverside County, CA. The subject property is a 4 bedroom, 2 bath home in a quaint "home away from home" area known as Mountain Center, which is just a short 30 minute drive from Palm Desert. The Borrower needed the funds for working capital in his business. The home is his primary residence, worth around $225K with a $139K 1st mortgage balance. The combined LV is 75%. The interest rate is 15% (25% APR) and the term is 1 year. Noelle was able to Fund this loan in just 1 week. This private mortgage was funded in July 2014.
$3.45M construction loan for a high-end spec home at The Madison Club, an exclusive golf course community in La Quinta, just south of Palm Desert. The Borrowers are very experienced with developing luxury homes. They are building an 8,600 square foot golf course-front home with a terrific, contemporary design and exceptional views. The home will have 5 bedrooms, 6 ½ baths, a pool, spa and lushly landscaped grounds. The estimated finished value is over $7 million. This private mortgage was funded in July 2014.
$400K private money bridge loan secured by an owner-occupied industrial building in Thousand Palms, CA. The Borrower's previous 1st mortgage was coming due and they needed to fund fast. Their 1st mortgage was paid off, and they received some cash out for business operating capital. The LTV for this new 1st mortgage is 65%. The loan term is 2 years. Although most of this lender's private money lending is done in Northern California, they do consider properties in Southern California as well. This private money loan was funded in June 2014.
Refinance of a maturing seller-carryback loan on two high-end residential lots in Palm Desert’s exclusive community of Bighorn. The sponsor required short-term financing to retire the existing debt while developing plans to build two luxury spec homes. Their available capital was much better utilized within their primary business, and banks have all but forgotten how to finance high-end lots, let alone provide spec construction financing on what will be $5m+ homes. Lender was able to fund this loan within 1 week.
Hard money bridge loan for $1.2 million on a 7,000+ sq. ft. new construction spec home. The borrowers needed to refinance their construction loan which had matured, and cash out some equity to put the finishing touches on the project. The borrower illustrated his ability to service the bridge loan based on his timely payments with his previous construction lender. Carl was able to refinance the existing debt of about $1 million and offer cash out of $200k with a similar payment they had with their construction loan. Carl and his investors felt comfortable with the project and its principals and the value upon completion so he made the bridge loan. The property will be listed and sold. This bridge loan was funded in March 2013 by a hard money lender based in San Diego.