Is California Hard Money Really “Hard”?

If you’re new to the money lending world, the term “Hard Money” might sound a bit intimidating. I can be the first to tell you that it’s really not. There is soft money and Hard Money in the world of loans, but without going into extensive detail, let’s just say the two are different. California Hard Money is based upon hard assets. In all aspects, Hard Money is essentially the easiest to get approved for.

California Hard Money Loans are equity-based—so it’s about the assets, not your credit, income, or financial history. However, some Hard Money Lenders will want more information about you; but, for the most part, they are more interested in the property you are looking to buy.

A Few Types of California Hard Money

There are a few different types of California Hard Money Loans. First, there are commercial Hard Money Loans. This is for commercial properties, not personal properties.

Then, there are business Hard Money Loans. This is where the loan is based upon the hard assets of a business such as accounts receivables or cash flows.

The other (and perhaps most common) is residential Hard Money Loans. These Hard Money Loans are usually for individuals or families looking to fix up a property or purchase their dream home.

Keep in mind that an California Hard Money Loan is not a signature loan. (A loan without any assets whatsoever, but based on credit score, work history, income, etc.). If you’re looking for a signature loan, talk to your bank about that. The whole purpose of a Hard Money Loan is asking for a loan based on the property you are looking to invest in.

That’s something that you should ask your bank to do and your bank is going to look at your credit, job history and all kinds of stuff and they are going to determine based upon you, not based upon your collateral because you don’t have any.

Talk to your nearest California Hard Money representative to see if you qualify for this type of real estate loan today!

 

 

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

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