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Hard Money Loans in Los Angeles: What They Are and How to Qualify Today

By April 15, 2019December 15th, 2021Hard Money Loan in Los Angeles
Hard Money Loans in Los Angeles

If you’re looking for hard money loans in Los Angeles, you’ve come to the right place.
We’ll break down exactly what hard money loans are, why they might be helpful to you (as someone who is looking for hard money loans in Los Angeles), and how you can qualify for a hard money loan in as little as 24 hours.

What is a Hard Money Loan?

Hard money loans are also known as short-term bridge loans. Instead of focusing on the buyer’s ability to pay down the mortgage, hard money loans focus on home equity. They’re typically provided by private lenders, like us. In other words, instead of extensively analyzing your financials in order to secure the loan, we’ll look at how much the house itself is worth.

Most homeowners buy their homes by taking out a traditional mortgage with a major bank. The bank is going to look at your credit score, your reported income for the past few years, your W2s, a list of your assets and debts, and on and on. The bank’s emphasis, then, is on you.

The bank wants to know that, if they lend you money to buy the house, you’ll still be able to pay them back. Since they demand such an extensive background check, getting approved often takes a long time.

What Good is a Hard Money Loan for Someone in Los Angeles?

But good real estate deals aren’t on the market for long. Sometimes you need to act fast.

That’s where hard money loans come in.

If you’re a real estate investor, a fix-and-flipper, or you just need to act fast because you found your dream home, hard money loans can help.

Just like how the bank emphasizes you, we emphasize the house, because that’s ultimately the actual asset. Banks are constantly bogged down by mountains of paperwork. They can’t help you act quickly. No bank in the world is going to lend you $500k to buy a house overnight.

But we just might, because we recognize the value of the property. Sometimes properties go on sale for hundreds of thousands of dollars less than they’re worth. If you’re a savvy real estate investor, we want to help you buy that property because it doesn’t make sense not to buy that property.

The property, in some sense, pays for itself. Our collateral isn’t based on your financials, it’s based on the property. We offer a way for you to act fast on properties that will be good for your business.

How Can I Get a Hard Money Loan in Los Angeles?

At PB Financial Group Corp we have been providing quick funding since 2006 and have funded over 2000 hard money loans. Experience is one of the most important factors when it comes to sensible real estate investing.

You can actually become pre-qualified by calling us at 877.700.3703 to discuss your loan scenario with one of our account executives.

At PB Financial Group Corp, we make it as easy as possible to find hard money loans in Los Angeles and all surrounding areas. For further information or to schedule an appointment please contact PB Financial at 877.700.3703 or complete our easy online form.

PB Financial NMLS #357614/CalBre #01522495

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