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Hard Money Loans in South El Monte
South El Monte sits in a sweet spot for fix-and-flip investors. Older housing stock meets strong rental demand from neighboring Rosemead and El Monte.
Hard money lenders fund these deals in 7-14 days when traditional banks take 45. Speed matters when you're competing with cash buyers on distressed properties.
Lenders care about one thing: the property's value after repairs. Your credit score barely matters. Most require 10-20% down and approve based on exit strategy, not W-2s.
Expect rates between 8-15% with 1-3 points upfront. Loan terms run 6-24 months. You're paying for speed and approval certainty, not low rates.
We work with 40+ hard money lenders who specialize in LA County deals. Some focus on quick flips under $500K. Others fund ground-up construction over $2M.
The right lender depends on your project type. Residential flips need different terms than commercial conversions. We match your deal to lenders who actually fund it.
Most first-time flippers underestimate holding costs. At 12% interest, every extra month costs thousands. Have a realistic renovation timeline before you close.
I see deals die when investors lowball repair estimates. Get contractor bids first. Lenders verify your budget makes sense before funding.
DSCR loans beat hard money if you're buying rental properties you won't renovate. They offer 30-year terms at lower rates. Hard money works when you need fast cash or the property needs major work.
Bridge loans fill a middle ground. Slightly lower rates than hard money but still asset-based approval. Good for stabilized properties you'll refinance within a year.
South El Monte permits move faster than LA proper but slower than some San Gabriel Valley cities. Factor 8-12 weeks for major renovation permits. Electrical and plumbing upgrades trigger stricter inspections on pre-1970s homes.
Most profitable flips target the $500K-$700K range after repairs. That's where first-time buyers compete hardest. Going higher limits your buyer pool in this market.
Most lenders approve down to 600 credit. Some go lower if your down payment exceeds 25% and the deal shows strong profit margins.
We close deals in 7-14 days with complete documentation. Cash-out purchases can fund in as little as 5 business days.
No income verification required. Approval hinges on property value, your down payment, and exit strategy showing profitable resale or refinance.
Hard money works only for investment properties. You'll need conventional or FHA financing for primary residences, even fixer-uppers.
Most lenders offer extensions at higher rates or additional points. Build contingency time into your budget 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.