Hard Money Purchase Loans 2018-01-03T14:43:14+00:00

Hard Money Purchase Loans

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Hard Money Purchase Loans

North Coast Financial is an experienced San Diego, California based hard money lender offering fast approvals and funding, low rates and excellent customer service for various types of hard money loans including purchase loans.

There are many reasons a borrower may decide to utilize a hard money purchase loan (also known as private money purchase loan) instead of conventional financing to buy a property. Both residential loans and commercial loans can be funded using hard money.

A subject property for sale may be receiving multiple offers. Hard money loans can be approved and funded within a matter of days as opposed to traditional financing from a bank which will take weeks or even months. A potential buyer who is able to offer a much earlier closing date than other bank financed offers will stand out and have a better chance of securing the sale. The borrower can refinance and obtain traditional financing once the property is acquired.

Why Choose North Coast Financial?

Hard Money Purchase Loans Recently Funded by North Coast Financial

  • Vacaville Hard Money Purchase Loan

Recent Deal – Vacaville Hard Money Purchase Loan

Vacaville Hard Money Purchase Loan North Coast Financial provided a $238,000 hard money purchase loan in Vacaville, California. The loan amount was secured [...]

  • San Luis Obispo Hard Money Purchase Loan

Recent Deal – San Luis Obispo Hard Money Purchase Loan

San Luis Obispo Hard Money Purchase Loan North Coast Financial financed a $300,000 hard money purchase loan in San Luis Obispo, California. The [...]

  • Downtown San Diego Investment Property Loan

Recent Deal – Downtown San Diego Investment Property Loan

Downtown San Diego Investment Property Loan North Coast Financial funded a $495,000 hard money investment property loan in Downtown San Diego, California. The [...]

  • Fontana Land Loan

Recent Deal – Fontana Land Loan

Fontana Land Loan North Coast Financial provided funding for a hard money land loan in Fontana, California. The loan amount of $55,000 was [...]

  • Cathedral City Hard Money Purchase Loan

Recent Deal – Cathedral City Hard Money Purchase Loan

Cathedral City Hard Money Purchase Loan North Coast Financial provided financing for a hard money purchase loan in Cathedral City, California. The loan [...]

Purchase Loans with Hard Money Financing

Unfortunate circumstances such as foreclosures, short sales, low credit scores or bankruptcies may prevent a borrower from being able to obtain financing from a bank. Hard money lenders are less concerned with these types of issues on a borrower’s record as long as the loan to value ratio is an acceptable percentage. The borrower may be able to use a hard money purchase loan to initially acquire the property and refinance with a conventional loan in the future once time has passed or these issues have been cleared from the borrower’s record.

Banks will not typically give traditional financing to a trust, LLC, corporation or non-profit organization. In these cases, a hard money purchase loan is the entity’s best option for obtaining financing.

Traditional lenders will often not lend to borrowers who already own many investment properties. The bank views this scenario as too risky. The investor will be able turn to a hard money lender to secure a hard money purchase loan and acquire the property. The property can be refinanced in the future with traditional financing once other investment properties are sold.

North Coast Financial also offers many other types of hard money loans including bridge loans, fix and flip loans, investment property loans, probate loans and refinance loans. Contact North Coast Financial now for more information.

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North Coast Financial Hard Money Purchase Loan Program

  • Hard Money Purchase Loan Program

Loan Application Approval TimelineSame day approval available
Time to Fund LoanAs few as 3-5 days if needed
Property TypesSingle family, multi-family, commercial, industrial
Loan Amounts$30,000 – $2 Million+
Loan TermsUp to 5 year terms available
Lien Position1st
Loan to Value (LTV)Up to 75% of current value of property
FeesNo appraisal fees (in most situations) and no hidden junk fees
Purchase Loan Interest Rates and PointsPlease contact us for information on current rates and points
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