Wilshire Quinn Capital

About Wilshire Quinn Capital

Wilshire Quinn typically funds loans in 5 to 7 business days and originates bridge loans ranging from $200,000-$10,000,000. Wilshire Quinn works directly with real estate owners and mortgage professionals nationwide.

As for Wilshire Quinn’s typical borrowers, their customer base is fairly diverse; borrowers range from builders looking for rehab financing, to individuals who are looking to purchase or refinance an investment property. Wilshire Quinn, a California hard money lender, provides financing to borrowers who are unable to obtain credit from traditional lending institutions or need to close quickly on a property.

Wilshire Quinn provides financing on a wide variety of property types including office, retail, industrial, mixed use, multi-family, mobile home parks, parking lots/structures, and non-owner occupied SFRs.

Wilshire Quinn originates loans ranging from $200,000 – $10,000,000 and works with commercial and residential borrowers nationwide. Loans are made or arranged by Wilshire Quinn Income Fund, LLC pursuant to California Finance Lenders Law license #603J060.

Please visit our website at www.wilshirequinn.com for information on our lending parameters or to submit a loan request. You may also contact us directly at 619-872-6000 to speak with a customer service representative about your particular loan scenario.

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

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

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

Licenses: California Finance Lenders Law license #603J060

Lending Guidelines for Wilshire Quinn Capital

Below are the general loan guidelines published on the Wilshire Quinn Capital 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 Quinn Capital.

Loan Example 1

Wilshire Quinn Capital issues a hard money loan to Lance for a renovation project in Los Angeles, CA, on a property that costs $290,000. The loan-to-value (LTV) on the loan is 55%. This means Lance will bring 45% of the sales price to the closing and the principle amount will be $159,500 on the loan. The rate on the note is 13% for a length of 12 months and the lender requires a three point origination fee at closing. The interest is to be paid on a monthly basis and the principle will be returned after the property sells.

Accordingly, the borrower will need to make a $130,500 down payment in addition to paying a $4,785 origination fee. After the deal closes, he will need to pay Wilshire Quinn Capital $1,728 in monthly interest fees, or 13% multiplied by $159,500 divided by 12 months in the year. Assuming he sells the rehabed project for $362,500 at the end of the 12 month term, his gross profit (not accounting for renovation expenses) would be $46,980. This is computed by taking the sales price ($362,500) and subtracting the original note amount ($159,500), the origination fee ($4,785), the funds he brought to closing ($130,500), and the total interest payments ($20,735).

Loan Example 2

Jimmie finds a house in Los Angeles, CA to rehab and sell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Wilshire Quinn Capital with the following parameters:

$150,000 purchase price
65% loan to value (LTV)
18 month term
10% interest rate
1% origination fee

Based on a $217,500 sales price at the end of the 18 month term, the numbers for the project would look like the following:

$217,500 sales price
- $97,500 principle on note (65% LTV)
- $52,500 down payment (35% on 65% LTV)
- $975 origination points (1% of the $97,500 principle amount)
- $14,625 total interest paid (18 months x 10% interest)
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= $51,900 gross profit (doesn't include taxes or rehab costs)