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Hard Money Loans in West Hollywood
West Hollywood's tight inventory and high-demand rental market make speed critical for investors. Hard money loans close in 7-14 days, letting you compete with cash buyers on gut renovations and value-add multifamily deals.
This asset-based financing works best for fix-and-flip properties or bridge scenarios where traditional approval timelines kill deals. Lenders care about the property's after-repair value, not your W-2 income or credit score.
Hard money lenders focus on the property's current value and after-repair value. Most require 25-35% down and charge 9-14% interest with 2-5 points upfront.
Credit scores matter less than deal structure. Lenders want a clear exit strategy—either a refinance into conventional financing or a sale within 6-24 months.
SRK CAPITAL connects you with specialized hard money lenders who understand West Hollywood's condo conversion potential and rent control landscape. Not all lenders touch properties under rent stabilization ordinances.
Regional private lenders move faster than national shops. They know which West Hollywood properties pencil for renovations and which neighborhoods support your after-repair value assumptions.
Most West Hollywood hard money deals involve outdated multifamily units near Santa Monica Boulevard or West Sunset. Lenders give you 70-75% of after-repair value, so your renovation budget comes from the loan proceeds.
Watch out for lenders who don't reserve renovation funds in escrow. You need controlled draws tied to construction milestones, not a lump sum that disappears into contractor delays.
Bridge loans offer lower rates (7-10%) but take 3-4 weeks to close. DSCR loans run cheaper long-term but require completed renovations and rental income documentation.
Hard money costs more but wins time-sensitive deals. Once your renovation finishes, refinance into a DSCR loan at half the interest rate and keep the property as a rental.
West Hollywood's Rent Stabilization Ordinance limits rent increases on units built before 1979. Hard money lenders discount ARV on RSO properties because they cap your exit strategy options.
Properties north of Santa Monica Boulevard in residential zones get better loan terms than mixed-use commercial buildings. Lenders see clearer exit strategies with pure residential plays.
Most deals close in 7-14 days. Properties with clear title and minimal code violations move faster than complex multifamily buildings.
No. Lenders underwrite based on the property's current and after-repair value, not your income or tax returns.
Yes, but lenders want proof the building qualifies for conversion under city ordinances. Rent-controlled units complicate approvals significantly.
Most hard money loans include 12-month terms with extension options for 3-6 months. Extensions cost 1-2 points plus higher monthly interest.
That depends on West Hollywood rental demand. Many investors refinance into DSCR loans and hold properties as long-term rentals for appreciation.
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.