North Coast Financial

About North Coast Financial

North Coast Financial is a hard money lender in Oceanside, CA providing loans throughout California. They offer lending solutions for many different situations, including refinancing, commercial loans, construction loans, hard money bridge loans, buy and hold loans, and fix-and-flip loans. Their lending guidelines are flexible, including loan amounts ranging from $20,000 to $10,000,000 with a maximum LTV of 80%. Their lending guidelines do not include a minimum FICO score. They make loans on most property types, including single family residences, multi family residences, mixed use spaces, retail units, office units, industrial buildings, and raw land.

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

Property Types Covered: Single Family, Multi Family, Mixed Use, Retail, Office, Industrial, Land

Areas Served: CA

Licenses: RE Broker CalBRE License No. 01870870, NMLS ID 323044

Lending Guidelines for North Coast Financial

Below are the general loan guidelines published on the North Coast Financial 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 North Coast Financial.

Loan Example 1

Summer is a real estate investor in Los Angeles, CA. She finds an older property for sale and wants to renovate it and sell it for a profit. The property costs $400,000 but she doesn't have the full amount so she obtains a private money loan with North Coast Financial. The terms of the loan include a 85% loan to value (LTV), so she must contribute 15% of the price as cash to closing, making the principle loan amount $340,000. The loan is interest-only, paid monthly, and is for 12 months at 10% interest with 2 origination points to be paid at the closing.

Summer will need to contribute a total of $32,400 up front to pay the $60,000 down payment in addition to the $6,800 origination fee. The monthly interest-only payments will then be $2,833 to North Coast Financial. If Summer sells the renovated project for $520,000 at the end of the 12 month term, her total profit (not including rehab costs) would be $79,200. This is computed by taking the sales price ($520,000) and subtracting the original principle ($340,000), the origination fee ($6,800), the funds she brought to closing ($60,000), and the total interest expenses ($34,000).

Loan Example 2

Lynn is a an investor in Los Angeles, CA. She locates an older property for a renovation project and obtains a private money loan from North Coast Financial with the following terms:

a) A $270,000 sales price, b) a 50% loan-to-value (LTV), c) a 18 month term, d) a 14% interest rate, and e) a 3% origination fee.

If Lynn succeeds in her goal of a $324,000 sales price, the outcome of the deal will be as follows:

$324,000 sales price
- $135,000 principle (50% LTV)
- $135,000 down payment (50% on 50% LTV)
- $4,050 origination points (3% of the $135,000 principle)
- $28,350 interest payments (18 months x 14% interest)
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= $21,600 gross profit (doesn't include taxes or rehab costs)