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Hard Money Loans in Westlake Village
Westlake Village sits at the LA-Ventura county line with high property values and tight inventory. Investors here use hard money to move fast when traditional financing takes too long.
Fix-and-flip projects in this area demand speed. Most sellers in Westlake won't wait 30-45 days for conventional approval when cash buyers compete.
Hard money lenders care about the asset, not your W-2 or credit score. They'll fund based on after-repair value minus renovation costs and their loan-to-value limits.
Expect 60-75% LTV on purchase price. You bring the rest as cash, plus renovation budget. Credit issues that kill conventional loans don't matter here.
Our network includes local California hard money lenders who know Westlake property values. National lenders often lowball after-repair values in this market.
Rates run 9-14% with 2-4 points upfront. Terms typically go 6-24 months. Lower rates come from stronger borrower profiles and conservative loan amounts.
Most investors use hard money wrong. They treat it like cheap capital instead of speed capital. Your holding costs at 12% interest add up fast.
Have a clear exit strategy before you close. Either flip within 6 months or refinance to DSCR once renovations complete. Don't let these loans go full term.
Bridge loans cost less but require better credit and income docs. DSCR loans work for rent-ready properties but won't fund major rehabs.
Hard money fills one specific need: fast funding on distressed properties. If your deal doesn't need both speed and renovation capital, cheaper options exist.
Westlake Village permits move slower than nearby cities. Factor 4-8 weeks for approvals on major renovation work before you commit to a 6-month flip timeline.
After-repair values here depend heavily on lot location and school boundaries. Lenders discount properties backing major roads or outside top school zones.
Most deals close in 7-14 days with clean title. Complex properties or title issues can push that to 3 weeks.
Not required but it helps. First-time flippers pay higher rates and face lower LTV limits from most lenders.
No. Hard money is for investment properties only. Residential purchases require conventional, FHA, or other homeowner loans.
You'll pay extension fees, typically 1-2 points per quarter. Much cheaper to refinance to DSCR before maturity.
Lenders cap loans at their risk tolerance, often $2-3M max. Larger projects need multiple funding sources.
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.