Hard Money Loans in California: A Reliable Solution for Quick Real Estate Financing

Hard Money Loans in California: A Reliable Solution for Quick Real Estate Financing

Introduction: When it comes to real estate transactions in California, securing the necessary funding can be a challenge. Traditional lenders often have strict criteria and lengthy approval processes. However, for those seeking alternative financing options, hard money loans offer a viable solution. This article explores the process of hard money loans. We provide an overview of the required documentation and emphasize the expertise of Shawn Rabban, a seasoned professional in the mortgage field.

Example Scenario: Imagine you’re a prospective real estate investor eyeing a property in the Los Angeles area. The property you desire has a purchase price of $1,000,000, and you have a substantial down payment of $300,000. In this situation, a hard money loan with a one-year term, a first position, and no secondary financing could be an ideal solution. City Capital Realty, an experienced hard money lender operating in the area, can assist you throughout the process.

Loan Application and Documentation: To initiate the hard money loan process, City Capital Realty will request specific information from the borrower. This includes completing a 1003 loan application, providing bank statements, a copy of a driver’s license, and a schedule of real estate assets. In addition, we will require mortgage statements, an insurance binder, and a credit check. Furthermore, we will review essential documents such as the purchase contract, escrow instructions, title report, inspection, termite report, and the 9A report.

Evaluation and Considerations: City Capital Realty takes a comprehensive approach to assessing each borrower’s ability to make payments and their existing financial situation. We will carefully review the provided information to determine the loan’s viability. Considering the borrower’s creditworthiness, property value, and the proposed deal’s profitability, we will make an informed decision.

Expert Guidance: Throughout the hard money loan process, Shawn Rabban, a licensed professional with over 30 years of experience in the mortgage field, is available to address any inquiries or concerns. With an in-depth understanding of the real estate market and the intricacies of hard money lending, Shawn can provide valuable guidance to borrowers.

Conclusion: Hard money loans serve as a valuable financing tool for real estate investors in California, providing a faster and more flexible alternative to traditional lending options. With City Capital Realty’s expertise and commitment to streamlining the loan process, investors can access the funds needed to seize profitable opportunities in the dynamic Los Angeles real estate market. Whether you’re a seasoned investor or a first-time buyer, exploring hard money loans could be the key to unlocking your real estate ambitions. Contact Shawn Rabban and his team to learn more about how they can assist you in obtaining a hard money loan tailored to your specific needs and goals.

Shawn Rabban | 310 -714 -5616 | Shawnrabban@yahoo.com |Citycapitalrealty.com

                            City Capital Realty | CAL DRE. 00667328 | NMLS. 298861 / 729817 |

                                    1575 Westwood Blvd., Suite 201, Los Angeles, CA, 90024

Terms & Conditions are subject to change without notice. Subject to credit approval. Some restrictions may apply.

Receive the latest news in your email
Table of content
Related articles