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Hard Money Loans in Huntington Park
Huntington Park attracts investors hunting undervalued properties near downtown LA. Many older homes need full gut rehabs—exactly what hard money lenders fund.
Traditional banks won't touch distressed properties or borrowers without W-2 income. Hard money fills that gap, approving loans in days based on the property's after-repair value.
Investors use these loans to buy, renovate, and flip or rent within 6-24 months. Speed and flexibility matter more than low rates in competitive markets.
Hard money lenders care about three things: property value, your exit strategy, and skin in the game. Credit scores below 600 still work if the deal makes sense.
Expect 25-35% down payment requirements. Lenders want to see you're committed and can handle cost overruns without defaulting.
You'll need a clear plan: flip timeline, renovation budget, comparable sales data. Lenders fund projects, not speculation.
Not all hard money lenders operate the same. Some specialize in ground-up construction, others only do light cosmetic rehabs. Match the lender to your project scope.
Rates typically run 8-12% with 2-5 points upfront. Higher leverage costs more—expect 10-12% if you're putting down just 25%.
Watch for prepayment penalties and hidden fees. Some lenders charge 3-6 months interest even if you refinance early. Read the fine print before signing.
Most investors overpay on their first hard money loan because they don't shop lenders. We compare 15-20 hard money sources to find competitive terms for your specific property.
Huntington Park deals often work best with lenders who understand LA County codes and renovation timelines. National lenders sometimes impose cookie-cutter requirements that kill perfectly viable projects.
Hard money works when you have clear profit margins—at least 20% after all costs. If your deal is tight, consider DSCR loans instead for longer holds.
Hard money beats bridge loans for distressed properties but costs more for stabilized assets. If the property is rentable as-is, DSCR loans offer better rates.
Construction loans work for ground-up builds but require detailed plans and licensed contractors. Hard money is simpler for basic rehabs under $150K in renovation costs.
Conventional investment loans take 30-45 days and require perfect credit. Hard money closes in a week with flexible underwriting—critical when competing with cash buyers.
Huntington Park sits minutes from downtown LA, making it attractive for investors targeting workforce housing. Proximity to Metro stations increases rental demand and resale values.
LA County permits can delay projects 2-4 months. Factor permit timelines into your hard money loan term or risk extension fees at 1-2% per month.
Many properties here are 1920s-1950s construction needing electrical, plumbing, and foundation work. Budget conservatively—scope creep kills tight margins on older homes.
Most lenders accept 580-600 minimum. Your property value and down payment matter more than credit history for approval.
Experienced lenders close in 5-10 business days with complete documentation. Rush closings in 3-5 days cost extra points.
Single-family, multifamily, mixed-use, and land all qualify. Condition doesn't matter—lenders fund uninhabitable properties banks reject.
Absolutely. Strong deals with experienced investors get better pricing. Shopping multiple lenders creates leverage to negotiate points and rates.
Yes, but plan to refinance into a DSCR or conventional loan within 12-24 months. Hard money rates aren't sustainable for long-term holds.
Most lenders offer 6-12 month extensions at 1-2% monthly. Build buffer time into your initial term to avoid expensive extensions.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.