California Residential Hard Money Lender
Real estate investing is a lucrative field, with the potential for high returns on investment. In fact, according to a recent report by the National Association of Realtors, the median existing-home price in the United States increased by 17.8% in the past year alone. This growth in property values makes real estate an attractive investment opportunity, but financing can be a major challenge for many investors.
This is where hard money loans come in. California residential hard money loans are asset-based loans that use the value of the property as collateral, rather than the credit score and income of the borrower. This makes hard money loans an attractive option for real estate investors who may have difficulty securing traditional bank loans due to their credit score or income. In fact, according to a survey by the American Association of Private Lenders, the top reason investors use hard money loans is because they cannot qualify for traditional financing.
At Lending Bee, we understand the unique needs of real estate investors and offer a range of hard money loan programs to meet those needs. Our loan officers have over 20 years of experience in the industry and are knowledgeable about the local real estate market. We work closely with our clients to evaluate the value of their properties and determine the appropriate loan amounts and terms.
Benefits of Working With California Residential Hard Money Lender
One of the benefits of working with Lending Bee is our flexibility. We offer tailored loan programs that can be customized to meet your specific needs. We fund quickly, usually within 3-7 days, because we manage our own funds and do not have to go through intermediaries. This allows us to consider a variety of factors when evaluating loan applications, such as the condition of the property, the borrower’s experience, and the potential for profitability.
At Lending Bee, we offer financing for a variety of property types, including fix-and-flip projects, single-family residences, and multifamily properties. We also offer refinancing and cash-out options, providing flexibility to meet your investment goals. Our loan amounts range from $100,000 to $25 million, with rates starting at 8.99%. According to a recent report by ATTOM Data Solutions, the average gross flipping profit for single-family homes in the United States was $67,902 in the third quarter of 2021. With a hard money loan from Lending Bee, investors can take advantage of these high profit margins and maximize their returns on investment.
How to Get a California Residential Hard Money Loan Without a Good Credit Score
While credit score and income are not the primary factors in determining loan eligibility, we do require some documentation to evaluate your application. This includes a loan application, a recent credit report, bank statements, tax returns, and information about the property you’re purchasing or refinancing. Our loan officers will work with you to gather all the necessary documentation and ensure a smooth process.
In conclusion, if you’re a real estate investor looking for a fast, flexible, and tailored financing option, Lending Bee is here to help. Our hard money loan programs are designed to meet the unique needs of real estate investors, and our experienced loan officers will guide you through the process and ensure that you have all the information you need to make informed investment decisions. Apply today and take the first step towards achieving your real estate investment goals.