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Hard Money Loans in Redondo Beach
Redondo Beach fix-and-flip deals move fast in this beachside market. Hard money financing matches that speed when you need to close in days, not months.
Coastal teardowns and renovation projects here justify hard money rates because the spread between distressed and renovated values runs wide. Most deals we fund involve either dated beach-adjacent homes or outdated multi-family buildings near the pier.
Lenders care about the property's after-repair value and your exit plan, not your W-2. Most require 20-30% down and focus on whether the numbers work.
Credit matters less than experience here. A 580 score works if you've completed similar projects and the deal has strong equity cushion.
Private hard money lenders in Los Angeles County compete heavily on speed and flexibility. Rates typically run 9-14% with 2-4 points upfront.
Most lenders here cap at 65-70% loan-to-value on the after-repair value. They fund based on what the property will be worth, not what you're paying for it.
The mistake I see: investors treating hard money like traditional financing. This works only when the spread between purchase and ARV covers your carrying costs plus profit.
Run your numbers assuming 12% interest for planning purposes. If your deal doesn't work at 12%, it's too thin for hard money risk.
Bridge loans cost less but require better credit and income documentation. DSCR loans work for rental holds but take longer to close.
Hard money fits one scenario best: you need to move fast on a deal that traditional lenders won't touch. Speed and flexibility cost more.
Redondo Beach renovation projects face coastal commission scrutiny and longer permit timelines. Factor 60-90 days for approvals on any structural work.
Properties within certain zones require additional environmental reviews. Your hard money lender won't care, but these delays eat into your timeline and carrying costs.
Most deals close in 5-10 business days once you have a purchase agreement. Some lenders fund in 72 hours if the property appraises quickly.
Expect 20-30% down on the purchase price. Your total cash requirement includes down payment, points, and reserves for the renovation.
Yes, but only as bridge financing. Plan to refinance into a DSCR or conventional loan within 6-12 months to lower your rate.
No. Approval depends on the property's value and your renovation budget, not your tax returns or job status.
Dated single-family homes near the beach and older multi-family buildings with value-add potential. Strong spread between current condition and renovated value matters most.
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.