Los Angeles Hard Money Loans
HMBL are experienced hard money loan providers, serving Los Angeles for more than 30 years. Our hard money loan programs are perfect for investors who are looking for quick funding to finance their real estate projects and for those who do not qualify for traditional bank loans. Since its inception, our firm has funded hundreds of millions of dollars in loans secured by real estate assets and our clients can count on us to deliver fair terms and the fastest funding. As a direct hard money loan provider, we use our own in-house funds to provide hard money loans to real estate investors and developers. Over the years, we have gained experience in dealing with difficult and complex scenarios which gives us the knowledge to fund even the most difficult scenarios.
About Hard Money Loans:
A hard money loan is a short term loan that is secured by real property that the borrower puts as collateral. People usually turn to hard money loans when they are denied by conventional banks due to their strict guidelines or in case they need immediate funds to finance any property. Traditional banks and financial institutions do not offer hard money loans; rather it is offered by private companies and individuals. This means more flexible guidelines and programs for borrowers. If you visit a bank to finance a real estate project, it will take months, usually 45 days or more, to approve the loan application and fund the transfer to you. As a real estate professional, you know how important it is to act quickly. You cannot wait to get access to funds as many other buyers are also lined up to invest in the same project. If you are not ready with the cash, you will probably lose the bid. But if you choose us as your hard money loan provider, we will give you immediate access to money by processing your loan application within 24 hours and provide financing within only 3 days.
Whether the property is residential or commercial, investment property or multi-family house, we will help to finance every project by providing you with a hard money loan at the lower interest and better terms. Your creditworthiness and income do not have much to do with us. What matters to us is only the property that you put as Collateral, as we provide hard money loans based on the equity in real estate.
We have a proven track record of providing hard money loans at lower interest rates than others due to our own in-house funds and flexible terms. If you do not qualify for traditional bank loans or you need quick access to capital, no need to worry. Being a leading hard money loan provider in Los Angeles, we are here to become your financial solution. For us, poor credit, prior bankruptcy or even foreclosure to us are simply hurdles, not roadblocks.
Frequently Asked Questions
What is a hard money loan?
Hard money loans are short term property loans, typically with higher interest rates and are funded by any private individual or company that a borrower uses by putting real estate property as collateral. Such loans take 1-2 weeks to qualify for, whereas traditional financing sources take 1-3 months. Qualification for such programs are easier and loan funding is faster than other loans.
Will my low credit score prevent me from getting a hard money loan?
As a hard money loan provider, we only focus on the assets that the borrower puts as collateral. Our hard money loan program is based on the equity in real estate. We require a borrower have at least 20% equity in their property.
How are your hard money loan structured?
By having more than 30 years experience providing financing, we understand how important it can be for you to get the money as quickly as possible when you are involved in a real estate deal. That is why we offer the fairest, cost-effective hard money loan terms you’ll find anywhere. Our hard money loans are structured specifically to optimize your funding needs so that you can have the freedom to move on those important deals quickly.
How can I get approved for a hard money loan in Los Angeles?
Getting approved for a hard money loan can be a stressful process. But with our firm, your application can get approved within 24 hours and you will get access to funds within 3 business days.
On what kind of property can I get a hard money loan with your firm?
We provide hard money loans on residential, commercial, industrial and multi-family properties.
What do you look for when approving a hard money loan?
We primarily review the Collateral to determine the value of the property. The real estate asset that you put as collateral is a determining factor in considering your loan application. However, we also review your ability to repay, credit-to-debt ratio, cash reserves, and experience level.