The top advantage hard money lenders provide is the remarkable speed with which your loan can be processed and approved.
When you partner with a trusted, efficient, and reputable hard money lender in Los Angeles such as PB Financial Group, your loan can be approved within 4 to 24 hours. So investors, rehabbers, corporations, probate estates, and non-QM money borrowers who do not meet the stringent requirements of conventional underwriting guidelines, can take advantage of the opportunities hard money loan provides.
Fewer Qualification Requirements
Rather than depending on your credit history (challenged credit history), the emphasis is placed on the asset that will be used for collateral (often real estate). Private lenders require the property to have equity and the borrower to have the ability to fulfill their loan.
Stated Income Loans
Stated income loan to the self-employed is where hard money lenders in Los Angeles really step up and banks step back. For instance, a state 1stmortgage on a fix and flip with 75% to 80% of the purchase price. Or even a 2nd mortgage position up to60% CLTV loans.
Another advantageous loan we offer is the cross collateralized loan. Cross collateralized loan is used when you have equity in one property but need cash to get into another investment property. Or when equity is a weak link in the property being purchased, a cross collateralization loan becomes a strong alternative. These are only a few of the many advantages that a private lender can offer.
Consider for a moment the many profitable opportunities you can harness using a hard money loan in Los Angeles. Think in terms of private money loans, bridge loans, long-term private financing, and other investor loans. These work for individuals, partnerships, trusts, corporations, LLCs, estates, and even foreign nationals.
PB Financial NMLS #357614/DRE #01522495