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Hard Money Loans in Temple City
Temple City's tight inventory creates opportunities for investors who can move fast on properties. Hard money loans fund in 7-14 days versus 30-45 for conventional financing.
Most deals we broker here involve renovating older SFRs in the Longden and Kauffman neighborhoods. Investors compete with cash buyers, so speed matters more than rate.
Lenders approve based on property value, not your W-2 or tax returns. Expect 60-70% loan-to-value on purchase, 75-80% on refinance of existing investment properties.
Credit matters less than conventional loans but sub-600 scores add rate. Most lenders want to see prior real estate experience or partnership with someone who has it.
We work with 15-20 hard money lenders who actually fund in LA County. Rates run 9-13% with 2-4 points at origination.
Some lenders cap at $2M, others go to $5M+ on single properties. Bridge lenders price lower but require exit strategy documentation that slows approval.
Investors mess up by underestimating holding costs. A 12% rate on 6-month hold costs $6,000 per $100K borrowed, plus points upfront.
The math works when after-repair value justifies it. We've seen Temple City flips clear $80-120K profit on $600K purchases, but that requires accurate renovation budgets and fast execution.
DSCR loans beat hard money when you're buying rentals to hold. Rates run 7-9% and you can keep them long-term instead of paying a balloon in 12 months.
Construction loans work better for ground-up builds or major structural work. Hard money makes sense for cosmetic renovations and quick flips where speed justifies the cost.
Temple City permits move faster than some LA County areas but still take 4-6 weeks minimum. Budget that time into your hold period calculation.
Properties near Temple City Park and the downtown area command higher ARV but also attract more investor competition. Lenders value conservatively on comps, so overpaying kills your LTV.
Most lenders accept 600+ but some go to 580. Lower scores add 1-2% to your rate since approval focuses on property value.
Typically 60-70% of purchase price or as-is value. Some lenders include renovation funds up to 75% of after-repair value.
Seven to fourteen days with clean title. Delays happen when properties have code violations or clouded title history.
Most lenders want prior flips or investment experience. First-timers can partner with experienced investors or pay higher rates.
Six to twelve months with option to extend. Extensions cost 1-2% of loan balance plus higher monthly rates.
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.