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About La Costa Loans
La Costa Loans is a hard money lender headquartered in San Diego, CA providing funding throughout San Diego. They offer lending solutions for many different scenarios, including fix and flip loans, rental property loans, and commercial hard money loans. They offer loan amounts ranging from $50,000 to $1,500,000 with a maximum LTV of 65%, rates ranging between 10% and 14%, and terms between 1 year and 2 years. They make loans on various types of properties, including single family units, multi family residences, apartment buildings, office buildings, retail storefronts, mixed use buildings, and industrial buildings.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Mixed Use, Industrial
Areas Served: San Diego
Licenses: DRE License # 01703738, NMLS License # 356756
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Lending Guidelines for La Costa Loans
Below are the general loan guidelines published on the La Costa Loans website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: $50,000 - $1,500,000
Available Rates: 10% - 14%
Typical Terms: 12 months - 24 months
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 14 DaysFix and Flip Loans
Loan Amounts: $50,000 - $1,500,000
Available Rates: 10% - 14%
Typical Terms: 12 months - 24 months
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 14 DaysCommercial Hard Money Loans
Loan Amounts: $50,000 - $1,500,000
Available Rates: 10% - 14%
Typical Terms: 12 months - 24 months
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 14 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by La Costa Loans.
Loan Example 1
La Costa Loans issues a hard money loan to Eliza for a rehab project in San Diego, CA, on a property that is listed for $280,000. The loan to value (LTV) on the loan is 70%. This means Eliza will have to bring 30% of the purchase price to the closing and the principle amount will be $196,000 on the note. The note is interest-only, with monthly payments, and is for 18 months at 9% interest with 4 points paid at closing.
Eliza will need to contribute $84,000 to closing (30% on the 70% loan-to-value), plus she will need to pay the $7,840 origination fee. The monthly interest-only payments will then be $1,470 to the lender. If Eliza accomplishes her goal of a $336,000 total sales price when the loan term expires, she would collect a gross profit of $21,700 after re-paying the principle and deducting the money she paid at closing, the origination points, and the monthly interest payments.
Loan Example 2
Franklin locates a duplex in San Diego, CA to rehab and re-sell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from La Costa Loans with the following parameters:
a) A $280,000 purchase price, b) a 70% loan to value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 3% origination fee.
Based on a $420,000 sales price after the 12 month term, the final numbers for the deal would look like the following:
$420,000 sales price
- $196,000 loan principle (70% LTV)
- $84,000 cash paid at closing (30% on 70% LTV)
- $5,880 origination points (3% of the $196,000 principle amount)
- $19,600 total interest paid (12 months x 10% interest)
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= $114,520 total profit (does not include taxes or renovation costs) -
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