Wilshire Fund

About Wilshire Fund

Wilshire Fund is a Beverly Hills, CA based hard money lender providing funding throughout California. They provide short term fix and flip loans, hard money bridge loans, construction loans, and commercial hard money loans. Their loan guidelines are versatile, including rates ranging between 7.5% and 11.99%, terms between 6 months and 3 years, and loan amounts ranging from $200,000 to $15,000,000 with a maximum LTV of 80%. They make loans on all of the following property types: single family, multi-family units, apartments, office buildings, mixed use spaces, retail storefronts, warehouses, storage facilities, and industrial facilities.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Bridge Loans

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

Areas Served: CA

Licenses: Real Estate Broker, CA Department of Real Estate, License #02044028

Lending Guidelines for Wilshire Fund

Below are the general loan guidelines published on the Wilshire Fund 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 Wilshire Fund.

Loan Example 1

Brad is an investor in Los Angeles, CA. He locates a run-down property for sale and decides to rehab it and flip it for a profit. The house costs $230,000 but he doesn't have the full amount so he obtains a fix-and-flip loan with Wilshire Fund. Since the lender sets a 55% loan-to-value, Brad will be required to put 45% down and the amount of the loan will be $126,500. The terms of the loan dictate a 14% note for 18 months. They also stipulate a 5 point origination fee, which will also be paid upon closing.

Brad will need to contribute $103,500 at closing (45% on the 55% loan to value), plus he will need to pay the $6,325 origination fee. The lender will collect $1,476 in monthly interest from the borrower. This is calculated by taking the full loan amount of $126,500, multiplying by the 14% rate of interest, and then dividing that amount by 12. If Brad sells the rehabed house for $322,000 at the end of the 18 month term, his gross profit (not accounting for remodeling costs) would be $59,110. This is calculated by taking the purchase price ($322,000) and subtracting the original principle ($126,500), the origination cost ($6,325), the money he brought to closing ($103,500), and the total interest payments ($26,565).

Loan Example 2

Elaine locates a duplex in Los Angeles, CA to rehab and sell. Since she does not have enough cash to buy the property outright, she takes a fix and flip loan from Wilshire Fund with the following parameters:

$220,000 purchase price
50% loan to value (LTV)
12 month term
13% interest rate
2% origination fee

Based on a $275,000 sales price at the end of the 12 month term, the outcome for this project would look like the following:

$275,000 sales price
- $110,000 note principle (50% LTV)
- $110,000 down payment (50% on 50% LTV)
- $2,200 origination points (2% of the $110,000 principle)
- $14,300 interest payments (12 months x 13% interest)
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= $38,500 total profit (does not include taxes or rehab costs)

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