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Oakland Hard Money Loan Funding to 80% LTV

This recent Oakland hard money loan funding to 80% LTV closed with cash out for property improvements.  We were able to help our client with an aggressive, short term loan for property improvements with no fund control account for the work to be done.

This property is located in Oakland.  Our client owned this investment duplex and as part of a family settlement needed to sell it.  In order to get to dollar for the property, various improvements were needed prior to putting it on the market.  We were brought in due to the high level of leverage being requested.  The borrower needed about 80%  of the value of the property in order to do the renovations suggested by his realtor.

The comps in this area were challenging to be able to do this on a traditional ARV type of product.  In addition, our ARV products typically cap out at about 65% of completed value, and are more expensive than our as is value products.  With the spread between ARV and as is value on this one, it made a lot more sense to do an aggressive as is loan rather than the more costly rehab loan.

We were able to structure a short term bridge loan with a single digit interest rate, interest only, at 80% of the as is value of the property.  This allowed for us to include an interest reserve, so no out of pocket payments were due for the first portion of the loan term, as well as net the borrower enough cash out to complete the renovations.  In addition, by not requiring a fund control account, the borrower was able to take all cash at closing.  The benefit of this is that he was able to get the repairs done on his schedule with his contractor, rather than requesting draws and dealing with any delays dealing with that process.

If you are looking for an Oakland hard money loan funding to 80% LTV, or a high leverage hard money loan anywhere in California, give us a call today.   We have a number of higher loan to value products to help leverage your investments.  These programs are mostly experience driven, with a small portion credit based.  With a brief phone call we can typically give you a good idea of how we can help.  Call today – 877 462 3422, or visit our main site for more information about our California hard money loans.

California Hard Money Seconds

Our California hard money seconds are short term loans, secured in second (sometimes even third) position.  These hard money seconds are one option for those looking to tap the equity in a property without having to refinance the existing loans.  For many with low interest rate existing bank loans, this is important.

Utilizing one of our California hard money seconds is typically a swift, low doc process.  These are not consumer purpose loans.  These are for business purpose only.  Often times these loans are used to acquire additional investment property, obtain working capital for an ongoing business, obtain capital for fix and flip projects, purchase additional business inventory or make repairs/upgrades to existing investment properties.

These loans are not to pay off consumer debt, send a child to college or any other consumer purpose.

We are able to secure our California hard money second loans on most property type within the state of California.  Land is one exception.  We are unable to provide second deed of trust funding for land.  For most other property types, however, including residential, commercial, multi-family, strip malls and other property types we can typically help secure a hard money second up to 65% of the total value of the property.

We help obtain financing for individuals, LLC, corporations, trusts and other entities that may hold title.

Typically speaking these are shot term loans with terms of 1-3 years.  Usually they are interest only, and often times we can structure them with no prepayment penalties – or very short term prepayment penalties.  Sometimes we can offer longer terms if that is required.

While the cost of our hard money seconds is higher than on our first position loans, that higher cost is typically more than offset by avoiding having to take out the existing first (and sometimes even second) currently on the property.  This is with regards to both cost of the loan as well as cost of debt service for the life of the loan.

If you would like to know more about our California hard money seconds, please call today at 877 462 3422 and we can discuss the options we have available for your specific scenario.

Sacramento Hard Money Rehab Loan Fundings

At All California Lending, we specialize in California hard money loans.  This recent funding was for a Sacramento hard money rehab loan.

This transaction was a major rehab project in Sacramento.  Our client had experience, although that is not required, and had a nice looking profit margin on this project.  Our hard money rehab loan allowed him to obtain the funding for the purchase, cost of rehab and an interest reserve with only a minimal down payment required.

The rehab funds were held in a fund control account and disbursed as the work was completed and funds requested.  The interest reserve was set up to cover payments on the loan during the project.  Essentially our client had no payments out of pocket to make on this loan all the way through the time of sale on the property.

We were able to get this closed with minimal documentation and a site visit to determine value and scope of work.  We were supplied a bid for the work to be done, and were kept updated on the progress of the project.  Our client was able to complete the project quite quickly, put the property on the market and sell for a nice profit in a matter of months.

We can help fund hard money rehab loans in Sacramento.  We are able to help investors with little to no experience, as well as investors with credit issues or lack of credit history.  Our Sacramento hard money rehab loans are based on the ‘as complete’ value of the property.  This allows us to offer higher leverage than if we based our loan amounts on the purchase price or ‘as is’ value of the property.

If you are looking for a Sacramento rehab loan, please give us a call today at 877 462 3422 to discuss your options.  We have a number of programs that can help you obtain the funding you need to move forward with a profitable project.  You can also learn more by visiting our page about California rehab loans.

Sacramento Commercial Hard Money Loan Funded

We are able to help with hard money loans throughout the state of California.  This recent Sacramento commercial hard money loan was funded for a client needing to close quickly on the acquisition of a strip mall.  Our client had the property locked up with multiple offers behind him.  We were able to put together the funding required quickly, using his existing appraisal and a simple site visit.

The property is located in the Sacramento area and is a strip mall.  The property was in need of upgrades and rehab, but the location was superb.  Occupancy was low, and our client was looking for an acquisition loan based on value alone.  He needed a fast acquisition loan in order to take title to the property prior to beginning his work to upgrade and improve the property.

He had tentative agreements in place with potential future tenants, but these were not required for our hard money loan to close.  His earnest money cash had gone hard, and failure to close on the acquisition would result in the lost of a substantial amount of cash.  In addition, the seller was under time constraints due to his situation, and there were a number of back up offers on the property.

From the time of the LOI being signed to the time of this Sacramento commercial hard money loan funding was less than two weeks on this multi-million dollar acquisition.

If you are in need of fast hard money lending in the state of California, give us a call.  We have many programs available for most property types throughout the state.  Regardless of loan size, we have options that can provide the funding solutions you seek.  Usually a brief phone conversation is all it takes for us to let you know how we can help.  Call us today at 877 462 3422, or visit our main page to learn more about our California hard money loans.

Marin Hard Money Construction Loans

We can help facilitate Marin hard money construction loans.  Located in the San Francisco Bay Area, Marin is one of the more desirable locations.  While the location is highly desirable, new construction can be a challenge to get local approval for.  We have experience working with construction loans in Marin and understand many of the challenges developers and builders can face in this area.

Our recent funding was for two adjacent lots, ground up construction.  The lots had been locked up under an option while our client got permits and approvals for the project.  By locking up the land under an option in this manner he was able to save a substantial amount of money on potential interest carry for the 12+ months it took to get approvals for work to start.  In addition, having plans and permits in hand can help us get more aggressive on the construction loan as it takes a large unknown out of the equation.

While having plans and permits in hand is not a requirement for our hard money construction loans, it is a benefit.  The entitlement process is one in which our clients do not have a lot of control over.  Oftentimes turn times are dictated by the local government, and estimated times are not guaranteed by any stretch.  Having lengthy delays during the permitting process can really harm the long term profitability of a project due to the increased cost of debt service.

In this situation, we did not have to plan for an extended carry time for the loan.  We were able to put a loan together that utilized a small seller carry back and the cash in from our client that was used for the permitting process to fund the balance of the project – plus interest carry.  These hard money construction loans typically will fund up to 60-65% of the completed value.  While we do like to see cash in from a client, we are able and willing to work with seller carry back situations, as well as gap funds, equity partner money and cash contributed towards the project to date.

If you have questions about Marin hard money construction loans, give us a call today at 877 462 3422.  We are happy to discuss the options we can provide.  You can find more information by visiting our page about California hard money construction loans.Marin Hard Money Construction Loans

San Francisco Hard Money Second Loans

We are able to help with San Francisco hard money second loans. These are loans that are secured in a second position, allowing our clients to keep their existing loan while accessing the equity in their property. These San Francisco hard money seconds are ideal for investors who have a great bank loan on the property but want to take out cash for additional investments.

Our second position hard money loans are typically written for 2-3 years in term. Usually they are interest only with a balloon due at the end of the term, although sometimes we are able to put together more long term financing – especially if the loan to value ratio is attractive.

San Francisco Hard Money Second Loans

Typically we will go up to a 60% CLTV on our hard money seconds in San Francisco, although we can potentially be more aggressive depending on the situation. San Francisco has some quirks that require lenders who understand the city and the properties. In our recent transaction, the property we financed had square footage that was not permitted, but yet was being used to generate income. This is not uncommon in San Francisco.

We were able to help with this second position hard money loan in San Francisco even though there were items recorded against the property due to the un-permitted space. The property was a great property in an ideal location, and the client was in need of cash out for their new business. We were able to help them obtain the cash needed and overlook the issues with the un-permitted space.

Another layer to this transaction included the income from the property. The property generated a large portion of it’s income through short term vacation rental. We were able to work with this situation as well and take alternative documentation with regards to the property income.

If you are looking for San Francisco hard money second loans or lines of credit, give us a call today to discuss your options at 877 462 3422 or visit our main page for information on our San Francisco hard money loans.

Truckee Hard Money Loans – Construction Completion Funding

All California Lending is able to help with non bank financing throughout the state of California.  We can help secure funding for most locations, including Truckee hard money loans.  This recent funding was a Truckee hard money construction loan.  We were able to assist with funding to secure the purchase, construction and interest reserves for this project.

Truckee Hard Money Loans

The property was put under contract and was being acquired for slightly below market value.  The guarantor has years of development experience.  His concept to add square footage to the property was to essentially take the existing structure’s bones  and then create an end product that would be considered new construction.  In structuring the build in this manner he will be able to realize a nice profit margin.  Property considered new construction is selling at a premium in the area.

The location is a highly desirable Truckee property, backing to forest land in the Donner Lake area.  Plans and permits were not approved at the time of our funding.  We were able to structure the loan based on an as complete value for the property.  We also were able to build in enough interest reserves to carry the project through to completion.

This hard money loan in Truckee was set up to be interest only.  There is no prepayment penalty on the loan.  The interest reserves that are not used will be refunded to the borrower (or discounted from the payoff) at sale.  We were able to get this done with no appraisal required.  The investors flew up to the property, did a site visit and verified our internal comps to confirm value and project feasibility.

We can help with many different types of hard money loans in Truckee and the surrounding areas.  Whether it is construction completion, ground up construction, acquisition of a rental or commercial property or a refinance of an existing property, we can help!  Give us a call today to discuss the options we can provide at 877 462 3422.  You may also visit our California hard money loans page to see our guidelines for Truckee hard money loans.

Placer County Hard Money Loans Funded

Placer County hard money loans funded!  We can help with your hard money loan request on properties in Placer county, as well as throughout the state of California.  This recent Placer County hard money loan we were able to help with was a unique loan request.  We were able to meet the borrowers request with regards to loan amount as well as rate and close in time to pay off a private money loan they had coming due.

This property was purchased for about 60% of the current value fairly recently.  The borrowers improved the property, remodeling much of the interior as well as completing a garage conversion.  The property was leased up and they completed permits for the conversion just prior to our loan closing.

Placer County Hard Money Loans

We were able to secure a hard money loan on this Placer County property based on the current value of the property.  We did not take into account or cap based on the original purchase price.  We also were able to secure a rate in the single digits, payoff the existing private money loan and provide the borrowers cash out to pay off debts incurred related to the remodel of the property.

The property was unique for the area, and there was turnover with regards to tenants.  In addition there were other hurdles to completing this loan.  We were able to secure the funds required despite the issues and perform as initially indicated.

We specialize in difficult or unique situations.  Where other hard money lenders may turn down a loan, we are willing to look at creative solutions to help get your loan funded.  We have many years of experience in the business.  We have built long term relationships that allow us to obtain funding for a wide range of properties and loan requests.  We can help provide Placer County hard money loans.  We can also help with hard money lending in the surrounding areas and throughout the state of California.  For more information, please visit our California hard money loans page or call us today at 877 462 3422 to discuss your scenario and see how we can help you.

San Bernardino Hard Money Loans For Rental Property

We offer San Bernardino hard money loans for rental property.  On this transaction we were able to assist a client looking for cash out on a rental property owned free and clear.  The cash out was to address some business debts as well as to invest in new machinery to increase their business income level.

On this hard money loan transaction in San Bernardino our clients had purchased the property as a rental a few years prior.  The property had a stable tenant and the loan request was for an amount that made the loan to value ratio quite attractive to our investment group.  We were able to structure a loan that closed quickly for our clients.  This allowed them to take advantage of a timely business opportunity.  In addition, we were able to avoid a full appraisal being required due to the low loan to value.  Instead we ordered a quick BPO to confirm value and went to docs.

For business owners who also own property, using the equity in property owned as collateral for a hard money loan can often times be a quick way to access needed capital to take advantage of opportunities.  Our process is typically very swift.  For business purpose loans the main criteria for underwriting is the equity in the home.  Small business loans may have more attractive rates, but often times can take too long for small business owners in need of capital now.

We can help with San Bernardino hard money loans for most property types.  Our hard money loans are typically interest only, and terms can range from as short as 6 months to as long as 30 years.  Wile most of our loans range from 2-5 years in term length, we are flexible and often able to structure a loan to meet the needs of our clients.  All of our funds are sourced from private sources, so the underwriting process is on a make-sense basis.  For more information, please read more about our San Bernardino hard money lending or call us today at 877 462 3422 to discuss how we can help you access the capital needed to improve your business.