9 Best Hard Money Lenders In California For 2024! (The Ultimate Guide!)
Just like you, I once found myself searching for the best hard money lenders in California, but was left disappointed by the lack of comprehensive guides online. Having now navigated this landscape extensively, I've decided to share my insights.?
This article is your ultimate guide, providing you with everything you need to know about the top 9 hard money lenders in California.
1. North Coast Financial
North Coast Financial is a seasoned player in the field of hard money lending, boasting over four decades of experience. This makes me confident in saying that they are among the top hard money lenders in California. The owner and broker of North Coast Financial has an impressive track record, having funded over $800,000,000 in California hard money loans since 1981.
Their services are not only extensive but also swift. They can fund hard money loans for investment property within just five days. They offer both 1st and 2nd hard money loans and cater to a wide range of borrowers. This includes individuals, entities such as LLCs, partnerships, corporations, as well as trusts and estates.
North Coast Financial's reach spans the entire state of California. They have a particular focus on areas like San Diego, Los Angeles, San Francisco Bay Area, Orange County, Riverside, Ventura, and Sacramento. Their clientele is diverse, ranging from individuals to partnerships, corporations, trusts, and estates.
Their expertise extends to various types of hard money loans. This includes fix and flip loans, land loans, hard money purchase loans, construction loans, cash outs, hard money refinances, bridge loans, probate and estate loans, Prop 58 loans, trust loans, investment and rental property loans, and commercial hard money loans.
What sets North Coast Financial apart is their reputation for professionalism and excellent customer service. Clients have lauded their timely funding and closing of loans, often in less than 10 days. They are also praised for their accessibility and guidance.
In addition to their lending services, North Coast Financial offers diverse investment solutions. They employ sophisticated market exposure and security selection models. They also implement an alternative approach to risk management, where they analyze existing risks and opportunities.
Their approach to ETF selection is multi-faceted, based on comprehensive research. They also provide wealth management solutions, with a focus on capital appreciation and downside risk management. I recommend North Coast Financial for their extensive experience, diverse services, and commitment to customer satisfaction.
2. New Silver
New Silver carved out a niche for themselves as a direct lender, providing private hard money loans to real estate investors. Their services are quite comprehensive, catering to a wide range of needs in the real estate market.
One of their standout offerings is the Fix & Flip Funds. This product is designed for both purchase and rehab or refinance and rehab scenarios. It's a great tool for investors looking to flip properties. But that's not all they offer. They also have a Rent 30 year fixed product, which is perfect for stabilized properties.?
This product is a boon for those looking to invest in rental properties. And for residential builders, they offer Ground Up Construction loans. This variety of loan products shows their commitment to catering to all aspects of real estate investing.
But what really sets New Silver apart is their Advantage Program. This program is a reward system for real estate investors who continuously partner with them. It's their way of saying thank you for your loyalty.?
The benefits are quite substantial. They offer reduced origination fees and reduced interest rates, which can make a significant difference in the profitability of your investments. They also provide appraisal refunds, which is a nice bonus.?
But perhaps the most valuable benefit is the underwriting priority they offer to repeat customers. This can speed up the loan process, getting you the funds you need faster.?
3. HouseMax Funding
HouseMax Funding is a reputable lender rooted in Texas, but its influence and services extend across the nation.?
I'm proud to share that the owners of this firm are seasoned professionals in the real estate industry. Their impressive track record includes flipping more than 3,000 homes, listing and selling residential properties worth over $750 million, and wholesaling a significant number of investment properties.?
One of the standout services they offer is the DSCR (Debt Service Coverage Ratio) long-term rental loans. This unique service uses the rent from the property to qualify the income. It's a brilliant approach that's custom-tailored for specific scenarios. This means that it provides a flexible financing solution for clients, adapting to their unique needs and circumstances.?
4. Easy Street Capital
Based in Austin, Texas, Easy Street Capital have made a name for themselves by serving real estate investors not just locally, but nationwide.?
Their offerings are diverse and innovative, catering to investors of all experience levels and investment strategies. What sets them apart is their commitment to providing fast, reliable, and simple financing. This is a company that understands the needs of investors and has designed their loan programs accordingly.
Among their loan programs, you'll find EasyFix, EasyRent, and EasyBuild. EasyFix is designed for Fix & Flip or Bridge loans, providing the necessary financial support for those looking to buy, renovate, and sell properties.?
EasyRent, on the other hand, is a long-term loan program for cash-flowing investment properties or rental properties. This is ideal for investors looking to generate a steady income from their properties. Lastly, EasyBuild is their construction loan program, perfect for those looking to finance their building projects.
One of the standout features of Easy Street Capital is their speed and efficiency. They have the ability to close loans in less than 48 hours, which is a significant advantage in the fast-paced world of real estate investing. In some cases, they even offer loans that require no appraisal, further speeding up the process.
Finally, I want to highlight their high leverage lending approach. This approach allows investors to borrow a larger amount of money, which can be a game-changer in the real estate investment world.?
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5. Stratton Equities
Stratton Equities stands out as a nationwide private money and NON-QM mortgage lender that I confidently recommend for real estate investors. Their expertise in hard money loans is particularly noteworthy, making them a go-to resource for those looking to finance their real estate ventures.?
What sets Stratton Equities apart is their comprehensive approach to serving real estate investors. They offer a one-stop shop experience with direct private money and NON-QM loan programs, which simplifies the process for investors. This means you can find a range of financial solutions under one roof, tailored to your specific investment needs.
The variety of loan programs they provide is impressive. Whether you're interested in hard money, fix and flip, cash-out refinance, or new construction loan programs, they have you covered.?
They also offer fixed commercial loans, blanket loans, fixed rental programs, and no-income-verification loans, among others. This breadth of services ensures that you can secure financing that aligns perfectly with your investment strategy.
Moreover, Stratton Equities is recognized for its specialized mortgage programs designed to meet the unique requirements of various investment scenarios. Their supportive management team is always ready to assist, ensuring that you receive the guidance and financial products that best suit your real estate investment goals.?
6. Crescent Lenders
As a direct bridge loan lender and a licensed broker in California, they have carved out a niche in the lending market with their specialization in hard money, bridge, private money, probate, 1031 exchange, and fix and flip loans. Their services are particularly beneficial for those looking to finance residential or commercial properties on a short-term basis.
Their extensive experience, spanning over a decade, has enabled them to serve numerous clients across key areas in California, including Los Angeles, San Diego, and San Francisco. This experience is not just about longevity but also about the volume of transactions they've successfully handled; they've funded over $100 million in bridge loans since 2010.?
Their financial products are competitive, offering rates starting at 9.75% and loan-to-value ratios up to 75%. Importantly, they do not burden clients with minimum income requirements or upfront fees, which I find to be a significant advantage for borrowers.
I appreciate Crescent Lenders for their pragmatic approach to lending. They prioritize the value of the collateral rather than the borrower's credit score, which is a boon for clients who may not have perfect credit but possess valuable assets.?
Their process is characterized by rapid funding and personalized financing solutions, ensuring that each client's unique financial situation is considered. Moreover, their commitment to maintaining open lines of communication throughout the lending process fosters a transparent and smooth experience.
The clientele of Crescent Lenders is diverse, encompassing real estate investors, property developers, estate beneficiaries, and business owners. This diversity is a testament to their ability to meet various financial needs, all while securing loans with hard real estate assets.?
7. ARCH Bridge Loans
ARCH Bridge Loans is a powerhouse in the lending industry, having underwritten over $3 billion in both commercial and residential loans. This is a testament to their robust financial capacity and their commitment to supporting property owners and investors.?
They are known for providing quick capital for a variety of properties. Whether you own one- to four-unit properties, condos, or commercial options, ARCH Bridge Loans is ready to support your financial needs. This makes them a versatile and reliable partner for property owners and investors alike.
One of the standout features of ARCH Bridge Loans is their high leverage options. They even offer 100% finance loans under certain conditions. This means that they are willing to take on a significant amount of risk to support their clients' financial needs.?
They specialize in short-term loan options. These loans typically range from one month to a year, making them an ideal choice for those who need quick, short-term capital.?
Based in Newport Beach, CA, ARCH Bridge Loans is a hard money lender that primarily provides funding in California and Colorado. This geographical focus allows them to have a deep understanding of these markets and to provide tailored services to their clients.
When it comes to loan amounts, they offer up to $2,000,000 with a maximum Loan-to-Value (LTV) of 70%. This means that they are willing to lend a significant amount of money, while still maintaining a conservative approach to risk management.
Finally, their loan terms are flexible, ranging between 6 months and 1 year. This flexibility allows clients to choose a term that best fits their financial situation and goals.?
8. Civic Financial Services
Civic Financial Services is a trusted partner for real estate investors, providing a range of lending solutions that are simple, honest, and reliable.?
I can confidently say that their offerings include single and portfolio rental term loans, bridge loans, multifamily loans, and fix-and-flip exposure limit loans. These options are available to residential real estate investors across the country, making it a versatile choice for many.
The mission of Civic Financial Services is something I deeply respect. They aim to empower clients with financial confidence. This is achieved through the establishment of trusted, generational relationships.?
It's not just about providing a service, but about building a long-term relationship that can span generations. This approach fosters trust and confidence, making clients feel secure in their financial decisions.?
9. Wilshire Quinn Capital
Wilshire Quinn Capital is a well-established direct private money lender that has been serving clients across the nation since 2004. With a strong presence in California, the company has offices in San Diego, Los Angeles, and San Francisco, making it easily accessible to a wide range of clients.
Specializing in real estate bridge loans, Wilshire Quinn Capital has carved out a niche for itself in the lending industry. The company typically handles loan amounts that range from $200,000 to a whopping $10 million. What sets them apart is their swift underwriting and funding processes. If you're in a hurry, you'll be pleased to know that they often manage to finance loans within a mere 5 to 7 days.
At the heart of Wilshire Quinn Capital's operations is a mission to create superior lending solutions. These are not one-size-fits-all loans; instead, they are carefully tailored to meet the unique situations and needs of each client.?
The company caters to a diverse customer base, which includes both corporations and individuals. Whether you're looking to finance a commercial property or a residential one, Wilshire Quinn Capital has you covered.
The company's expertise extends beyond just bridge loans. They are also proficient in Private Money Lending, Investment Management, First Trust Deed Investments, and hard money loans.