Coastal La Jolla Funding is a California hard money lender that represents a multitude of private investors who specialize in funding subprime and poor credit mortgage loans. In addition to our expertise in less than perfect loans, we also service bridge loans and hard money residential loans. Coastal La Jolla Funding provides sub prime and hard money loans that are uniquely tailored to fit the specific needs of its clients. Best of all, CLJF works quickly and efficiently, often providing secured hard money mortgages in the time it takes most loan companies just to call back.
In addition to our california bad credit loans, we currently offer hard money and subprime mortgage loans in the following states:
California, Alaska, Arizona, Colorado, Connecticut, Florida, Michigan, Minnesota, Nevada, Oregon and Virginia.
Our California bad credit loans begin at $100,000 and go up to $20 million. For residential purchases in California, we can finance up to 75% of the loan requested, in many cases. Typically for a hard money loan, we require at least 25%-30%
equity in land or liquid assets as sufficient collateral. The state in which the principal or borrower resides will affect the loan amount and the hard money loan terms.
The easiest way to qualify for a poor credit mortgage loan is to fill out our two minute loan application. If you qualify, one of our bad credit lenders will contact you as soon as they are able. For hard money and subprime heloc loan submissions outside the state of California, we will refer your applications to an affiliate lender.
If you would like to talk to us directly regarding your poor credit home loan needs, you may do so at the following numbers.
Coastal La Jolla Funding has a very practical and easy approach to imperfect credit lending, setting you on your way to succeed at procuring the financing that you desire.
PRIVATE HARD MONEY LOAN TERMS: Flexible loan terms from 6 weeks to 2 years.
LOAN SIZE FOR A HARD MONEY LOAN: From $100,OOO to $20 Million
COLLATERAL: Real estate and other fixed or liquid assets are typically need to qualify for a hard money loan.
REPAYMENT ON AN IMPERFECT MORTGAGE LOAN: Repayment on a hard money loan normally runs up from 2 months to 20 years, although this will certainly differ based on loan specifics. Interest rates on our standard hard money loan is variable and individual loans are quoted either at a discount or premium to our base lending rate. The discounts and premiums primarily depend on your financials and collateral.
California Hard Money Loan Definition:
A hard money loan is a short-term bridge loan that is used for acquisitions, turnaround situations, foreclosures and bankruptcies. Interest rates, although high on business hard money loans, are less costly than taking on a financial partners or losing the real estate opportunity altogether.
Who are California Hard Money Real Estate Loans Ideal for?
Hard money real estate loans are ideal for borrowers who are unable to obtain funding through a conventional source. The properties or the borrowers are often clouded by legal or operational problems. Business hard money loan lenders can often help solve the problems and get the property repositioned for a conventional refinance.
Hard Money Loan Lenders
All hard money loan lenders are different. The hard money loan lenders we refer clients to will usually consider income producing properties such as apartments, condo/co-op conversions, retail/shopping/strip centers, mixed use properties, industrial, office buildings, hotels/motels, medical, mobile home parks and restaurants, as well as non-income producing properties such as land acquisition, development and construction, bank workouts, foreclosures and bankruptcies.
How long do hard money loans typically last?
Hard money loan terms are typically no longer than two to three years. The reason is simply that a longer term becomes too expensive for the borrower. With hard money loan lending, the goal is to have the borrower in and out of the hard money loan as quickly as possible. The hard money loan lender will analyze each transaction during the due diligence process for "good risk" -- to be sure that a property can be repositioned for conventional refinancing or sale within one or two years.
Hard Money Loan Equity
The amount of equity needed for a hard money loan depends on the quality of the real estate and the hard money loan lenders themselves. The hard money loan lenders of Coastal Coastal La Jolla Funding prefer 20% to 25% equity.
If you would like to apply for a hard money loan through the Coastal Coastal La Jolla Funding, click on our hard money loan application.
If you would like to apply for a hard money loan through the Coastal Coastal La Jolla Funding, click on our hard money loan application.
As a California hard money lender, Coastal La Jolla Funding has featured alliances that include additional hard money lenders that provide additional hard money lender real
estate products and services. If you would like to know whether any of these sites provide specific hard money lender related services, email Coastal La Jolla Funding.
