When you need to finance a real estate project, but you cannot not qualify for a traditional mortgage, you can approach a hard money loan provider in Los Angeles.
By analyzing its pros and cons, such as the additional interest and fee’s one must determine whether such a loan is worth it based on the investment. If you decide to finance your real estate project in Los Angeles with a hard money loan, the next step you need to take is to find a good hard money provider.
Finding the best hard money lenders in Los Angeles is critical, especially for those who are new in the real estate sector. To help you out in finding good hard money lenders, we have reviewed the top hard money providers in Los Angeles. We will see the list of top hard money providers and what they are best for and whether or not they fund first-time investors.
Kiavi
With fast funding and no hidden charges in closing costs, Kiavi is the best choice for a hard money loan. This firm is an excellent choice for those real estate investors who are new to the industry and are looking to finance their real estate projects quickly.
Kiavi can fund you up to $3 million for 12 months and fund transfer will take just 5 to 15 days. This firm also funds first-time investors (zero to five flips in 24 months) but experienced flippers (five or more flips in 24 months) get better interest rates and a dedicated manager. For more information, you can visit Kiavi official website.
Lima One Capital
This firm offers a wide variety of lending options including fix-and-flip, a fix-to-rent, multi-family and a new construction loan.
Lima One Capital offers you a maximum loan amount of $3 million as a fix and flip and construction loan. The maximum loan amount they offer for a value-add bridge loan is $20 million. Loan terms, interest rate and cost vary among the products.
Lima One Capital is the best choice for new and experienced investors. It requires a minimum credit score that ranges between 600 and 660. Visit its official website for more information and begin the application process.
Visio Lending
It offers hard money loans for a wide variety of properties including single-rental loans, blanket loans for multiple properties, and bridge loans. In addition to all these, Visio Lending also offers portfolio lending for vacation and short-term rental properties. No personal debt to income (DTI) is required as it funds the real estate investors based on the equity of the property that serves as collateral.
Visio Lending is a great choice for those first time investors who have a solid credit profile and want to purchase and renovate properties. You cannot fill out an online application form for a hard money loan, but you can fill out a contact form to have a representative get in touch with you. For more information, you can visit the official website of Visio Lending firm.
RCN Capital
This is a top hard money provided firm for experienced investors in fix-and-flip or long-term rental properties. RCN Capital requires experience at least two flips or two long-term rentals within the last three years. It lends up to 90% LTC and 100% of the renovation costs, which need to be closed in as soon as 10 days.
You can fill up the loan application form by visiting its official website. In addition to that, it has a live chat operator facility that can answer any question that you might have before applying. Just go through the website and begin the application process.
CoreVest
This is another top hard money lending firm, offering hard money loans to Real estate developers with a big project. The blanket mortgage product has terms of five, seven, or 10 years, with up to a 75% LTV ratio. Fix and flip loan that CoreVest offers allows real estate developers to complete a project, sell them again and take the services of hard money lending of this firm for their next fix and flip.
You can connect with CoreVest by filling out an online application form or by using a chatbot on its website. If you prefer to speak to someone on the phone, You can contact this firm on a phone call by dialing the number given on its official website. So what to wait for? Contact CoreVest to begin the application.
How we determined the top hard money providers in Los Angeles
While preparing the list of top hard money providers in Los Angeles, we considered loan rates, terms, and required borrower qualifications and thoroughly analyzed each of these firms. We also looked at funding speed, maximum loan amount and competitive interest rates while compiling our list. We also considered whether they offer hard money loans to new investors or not.
If you have decided on borrowing a hard money loan, you do not need to spend your precious time looking for the top hard money providers in Los Angeles. We have compiled the list of the best hard money loan providers. Just go through them once and contact them to clear all your doubts before applying with any particular firm.