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Hard Money Loans in Pomona
Pomona's investor market runs on speed. Foreclosures, estate sales, and distressed properties move fast here, and conventional financing kills most deals before they close.
Hard money loans fund in 7-14 days based on property value, not your tax returns. If the property makes sense and the exit strategy works, the loan gets done.
Lenders care about the asset and your plan. They want to see 25-30% equity in the deal, a realistic renovation budget, and a clear exit within 12-24 months.
Credit scores matter less than with conventional loans. I've closed hard money deals with borrowers at 550 FICO when the property value and exit strategy were solid.
Hard money rates in Pomona run 9-14% with 2-4 points upfront. These aren't cheap loans, but they're priced for speed and flexibility, not long-term holds.
Local lenders know Pomona neighborhoods. They understand which areas support quick flips and which ones carry higher risk. That local knowledge affects both rates and loan-to-value ratios.
Most investors misuse hard money. It works for properties you'll flip or refinance within 18 months. If your plan requires holding longer than two years, you're paying the wrong price for capital.
The best hard money deals I've brokered in Pomona had renovation budgets under $60K and clear comps showing 20%+ profit margins. Overly ambitious rehabs rarely pencil out at these rates.
DSCR loans beat hard money if you plan to rent the property. You'll pay 7-9% instead of 12%, and you can hold the asset long-term without refinancing pressure.
Bridge loans work for lighter rehabs where you need 30-90 days. Construction loans make sense for ground-up builds. Hard money fills the gap: heavy renovation projects that need fast funding and flexible terms.
Pomona's older housing stock creates hard money opportunities. Properties near downtown and west Pomona neighborhoods offer strong flip potential when bought right.
Permit timelines in Los Angeles County run 4-8 weeks for major work. Factor that into your holding costs. At 12% interest, every month of delays costs real money.
Most deals close in 7-14 days. I've closed straightforward purchases in five days when the property appraisal came back clean and title was clear.
Expect to put down 25-30% of the purchase price. Some lenders go to 75% LTV on strong deals, but 70% is more common in Pomona.
Yes. I've closed loans for borrowers with 550 credit scores when the property value and exit plan were solid. The asset matters more than your score.
Rates run 9-14% depending on loan-to-value ratio and borrower experience. First-time flippers pay the higher end of that range.
No. These are asset-based loans. Lenders care about property value, your equity stake, and your exit strategy, not your W-2.
Most lenders offer 6-12 month extensions at a fee. Build buffer time into your timeline since LA County permits often run late.
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.