Loading
Hard Money Loans in Santa Fe Springs
Santa Fe Springs sits in the industrial heart of Los Angeles County where investors chase mixed-use conversions and warehouse rehabs. Hard money loans fund these deals in 7-14 days when traditional banks won't touch them.
The city's proximity to major freight corridors makes commercial fix-and-flip projects viable. Lenders here focus on property value after repair, not your W-2 or tax returns.
Hard money lenders approve based on the property's after-repair value, not your credit score or employment. Most require 20-30% down and fund up to 70% of the property's future worth.
You need a clear exit strategy—either a sale or refinance into long-term financing within 12-24 months. Lenders want to see renovation budgets and timelines that make sense.
Los Angeles County has dozens of hard money lenders with different appetites. Some specialize in single-family flips, others fund only commercial or multifamily deals.
Rates run 9-14% with 2-4 points upfront. Shopping across lenders saves thousands because each prices risk differently based on property type and location.
I route Santa Fe Springs deals to lenders who understand industrial and mixed-use properties. The city's zoning flexibility creates opportunities traditional underwriters can't evaluate.
Most investors here use hard money as bridge financing while permits process. The mistake is underestimating renovation timelines—every extra month costs 1% of the loan amount.
DSCR loans offer lower rates but take 30-45 days and require the property to cash flow immediately. Bridge loans sit between hard money and DSCR with moderate speed and cost.
Hard money wins when you need to close fast or the property needs major work. Once renovations finish, most borrowers refinance into conventional or DSCR financing.
Santa Fe Springs permits move slower than surrounding cities. Factor 60-90 days for approvals when calculating your loan term needs.
The city's industrial character means fewer residential comps. Lenders rely heavily on independent appraisals to determine after-repair value.
Most hard money lenders close in 7-14 days once they approve the deal. You need a signed purchase agreement and property evaluation first.
Most lenders want 600+ but focus more on your equity and exit plan. A 580 score works if the deal has strong margins.
Hard money is designed for investment properties only. You'll need conventional or FHA financing for owner-occupied homes.
You can request a loan extension for 1-3% of the loan amount per month. Plan conservatively to avoid these costs.
Yes, most lenders hold renovation funds in escrow and release them as work completes. They verify progress before each draw.
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.