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Hard Money Loans in Maywood
Maywood sits in a tight inventory pocket of LA County where distressed properties move fast. Hard money loans close in 7-14 days, matching the speed investors need to compete for rehab opportunities here.
This loan type works because value is in the property, not your tax returns. If you've found a deal in Maywood with clear equity potential, hard money gets you to closing before conventional buyers can even finish their appraisal.
Hard money lenders fund based on after-repair value and your exit strategy. You need 20-30% down, a clear renovation plan, and proof you can execute or sell within 6-24 months.
Credit matters less than experience. First-time flippers pay higher rates and need stronger deals. Repeat investors with successful exits in LA County get better terms and faster approvals.
We work with 40+ hard money lenders who fund LA County deals. Rates run 8-15% with 2-5 points upfront. Terms vary widely based on property condition, your track record, and how competitive the deal is.
Local portfolio lenders move fastest but cost more. National hard money shops offer lower rates but add underwriting layers that slow approvals. The right fit depends on your timeline and how tight your margins are.
Most Maywood flippers underestimate holding costs. At 12% interest on a $400K loan, you're paying $4K monthly just in interest. Add property taxes, insurance, and utilities—your carry cost hits $5K+ per month before renovation expenses.
The deals that pencil in Maywood have ARV above $550K with purchase under $400K. Anything tighter requires sub-60-day renovation timelines, which most contractors can't deliver in LA County's permit environment.
Bridge loans cost less but require stronger borrower financials. DSCR loans work for rental conversions with lower rates, but you need 12 months of seasoning before refinancing out.
Hard money makes sense when speed trumps cost or when your income doesn't support conventional financing. If you're buying at auction or competing against cash offers, this is your only play.
Maywood's small footprint means most investment properties cluster near Atlantic Boulevard. Lenders know these neighborhoods—they've funded dozens of rehabs on the same blocks.
Expect lenders to cap loan amounts at 65-70% of ARV in Maywood due to market size. Larger portfolio lenders prefer deals in adjacent cities with more comparable sales data. Smaller lenders who know LA County's southeast corridor offer better leverage here.
Most lenders close in 7-14 days once you have a purchase contract. All-cash equivalent speed with less upfront capital required.
Minimum 600 for most lenders, but deals matter more than scores. Strong ARV spreads can offset credit below 650.
No. Hard money is for investment properties only. Lenders require you to have a different primary residence during the loan term.
Most lenders offer 6-12 month extensions at additional cost. Budget 1-2 points plus continued monthly interest for extension periods.
Yes, through construction draws tied to completed work. Lenders inspect progress before releasing funds for each project phase.
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.