California Hard Money Now

About California Hard Money Now

Based in San Diego, CA, California Hard Money Now is a hard money lender providing funding in Los Angeles County, Orange County, and San Diego County. They offer loans for a variety of scenarios, including commercial loans, short term fix and flip loans, and loans for rental properties. Their loan parameters are versatile, including terms between 1 year and 3 years and loan amounts ranging from $40,000 to $12,000,000. They are able to lend money to any borrower based on the property value and do not require a minimum credit score. They offer loans on numerous property types, including single family homes, multi-family units, apartments, office units, retail storefronts, hotels, storage buildings, assisted living communities, mixed use buildings, undeveloped land, churches, warehouse buildings, and industrial buildings.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Land, Church, Warehouse, Industrial

Areas Served: Los Angeles County, Orange County, San Diego County

Lending Guidelines for California Hard Money Now

Below are the general loan guidelines published on the California Hard Money Now website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by California Hard Money Now.

Loan Example 1

California Hard Money Now issues a fix and flip loan to Albert for a rehab project in Los Angeles, CA, on a property that costs $370,000. The terms of the loan include a 60% loan to value (LTV), so he must bring 40% of the price as cash at closing, which makes the principle loan amount $222,000. The note is interest only, with monthly payments, and is for 12 months at 14% interest with 1 origination points to be paid at closing.

On top of the $2,220 origination fee, Albert will also fund $148,000 of the purchase with his own money, or 40% of the purchase price. Once the loan is executed and Albert takes the project, he will begin making payments each month of $2,590 to California Hard Money Now ($222,000 principle x 14% / 12 months). If he sells the remodeled house for $462,500 at the end of the 12 month term, his total profit (not including rehab expenses) would be $59,200. This is computed by taking the sales price ($462,500) and subtracting the original principle ($222,000), the origination cost ($2,220), the funds he contributed to closing ($148,000), and the total interest payments ($31,080).

Loan Example 2

California Hard Money Now issues a loan to Kurt for a rehab project in Los Angeles, CA. The deal includes the following:

a) A $150,000 sales price, b) a 85% loan to value (LTV), c) a 6 month term, d) a 13% interest rate, and e) a 1% origination fee.

If Kurt succeeds in his goal of a $217,500 sales price, the numbers of the deal would be the following:

$217,500 sales price
- $127,500 loan principle (85% LTV)
- $22,500 down payment (15% on 85% LTV)
- $1,275 origination fee (1% of the $127,500 principle)
- $8,288 total interest paid (6 months x 13% interest)
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= $57,938 gross profit (does not include taxes or renovation costs)