California Private Money Lenders

About California Private Money Lenders

Headquartered in Santa Rosa, CA, California Private Money Lenders is a hard money lender providing loans throughout Sonoma County. They provide commercial hard money loans, rental property loans, short term fix and flip loans, and hard money refinancing. Their loan parameters are flexible, including rates ranging between 8% and 12%, loan amounts ranging from $50,000 to $3,000,000 with a maximum LTV of 70%, and terms between 24 months and 60 months. They lend money to all borrowers based on the property value and not on a minimum credit rating. They make loans on various property types, including single family homes, multi-family, apartments, office buildings, retail spaces, hotels/motels, storage facilities, mixed use buildings, and industrial facilities.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Mixed Use, Industrial

Areas Served: Sonoma County

Licenses: Licensed Real Estate Broker, BRE# 01012448

Lending Guidelines for California Private Money Lenders

Below are the general loan guidelines published on the California Private Money Lenders 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 Private Money Lenders.

Loan Example 1

Raul finds a townhouse in Santa Rosa, CA to remodel and re-sell. Since he doesn't have enough cash on-hand to acquire the $320,000 house outright, he decides to take out a private money loan from California Private Money Lenders. The loan-to-value (LTV) on the loan is 75%. This means Raul will have to bring 25% of the sales price to the closing and the principle amount will be $240,000 on the deal. The terms of the deal dictate a 11% note for 18 months. They also stipulate a 2 point origination fee, which will also be paid upon closing.

Raul will have to bring $80,000 at closing (25% on the 75% loan-to-value), plus he will need to pay the $4,800 origination fee. The lender will collect $2,200 in monthly interest from the Raul. This is computed by taking the full loan value of $240,000, multiplying that by the 11% rate of interest, and then dividing that number by 12. If Raul sells the remodeled project for $432,000 at the end of the 18 month term, his gross profit (not accounting for rehab costs) would be $67,600. This is computed by taking the purchase price ($432,000) and subtracting the original principle ($240,000), the origination cost ($4,800), the cash he brought to closing ($80,000), and the total interest payments ($39,600).

Loan Example 2

Marjorie takes out a loan from California Private Money Lenders in order to remodel a house to re-sell in Santa Rosa, CA. The deal has the following parameters:

$370,000 purchase price
60% loan-to-value (LTV)
6 month term
8% interest rate
4% origination fee

After the renovation project is complete, if Marjorie sells the house for $462,500, the numbers would be as follows:

$462,500 sales price
- $222,000 principle on note (60% LTV)
- $148,000 cash paid at closing (40% on 60% LTV)
- $8,880 origination fee (4% of the $222,000 principle amount)
- $8,880 interest payments (6 months x 8% interest)
-----------------------
= $74,740 gross profit (doesn't include taxes or renovation costs)

No Reviews Yet

California Private Money Lenders currently has no reviews. To add a review now, click the link below:

Write a Review for California Private Money Lenders