Hard money loans for flipping houses in Los Angeles are for real estate investors who are in the business of actively locating properties to purchase at a discount, making the necessary repairs and improvements and later selling the property for a profit. As a fix and flip lender, we provide the needed capital to accommodate your goals.
Since financing costs are a substantial cost component in all hard money loans for flipping houses, we consistently strive to structure the lowest possible interest rates and costs for our borrowers. Our interest rates range from 9% to 12% and our loan origination points range from 1 to 1 ½ points on most fix and flip hard money loans.
We are a private equity lender which means that we look to the equity in the subject property to secure your loan so don’t let your credit or income stand in the way of you taking advantage of finding and buying a fix and flip house and making a lot of money in today’s real estate market.
Most fix and flip lenders only take into consideration a homes purchase price. We delve further into the deal to determine the current market value on which to base the hard money loan. In addition, we can provide the necessary funds to make needed repairs and upgrades, and can also consider the property’s ARV (After Repaired Value) when determining our final fix and flip loan amount.
Our LTV’s reach as high as 70% when considering hard money loans for flipping houses If the house is purchased at a substantial discount from current market value, the need for borrower funds contribution can be greatly reduced.
If substantial improvements and repairs are contemplated, a Fund Control Account may be established to ensure that the scheduled property improvements are made and that they comply with general building codes and standards. The Fund Control Account protects all involved parties and assures that all work is done properly and as intended.
The Loan Submission Process is Short and Simple
If you need a hard money loan for flipping houses and would like our company to investigate the merits of the transaction, please call one of our fix and flip loan consultants, or you can complete the Short & Simple Loan Submission for a fast response.
Fix & Flip Short and Simple Loan Form
EQUAL HOUSING LENDER
Some products may not be available in all states. Restrictions apply. All rights reserved. Pre-qualification is neither pre-approval nor a commitment to lend; you must submit additional information for review and approval. Approval may be subject to rate increases, satisfactory title and appraisal review, and no change in financial condition.
*Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.