Orange County Hard Money Lenders

The buzz is all about hard money lending, and the name to know in the hard money lending world is Lending Bee, Inc. Here’s why:

Lending Bee, Inc. has over a decade of experience in the hard money industry. We take the time to thoroughly understand the needs of all types of investors, from entrepreneurs and fix-and-flip property seekers, to contractors who need real estate financing to help pay for construction, hard money lending in Orange County helps you get the money you need in days, not in weeks and months.

And this fast action is what sets Lending Bee Inc. apart from its competitors. In Orange County, the real estate market is all about quick action. The moment a lucrative property or home goes up for sale, many investors are eyeing it like hungry vultures.

Those who are looking to fix and flip, do new construction, or invest in the property seldom even have a chance because of better-financed investors who are able to make compelling offers right away (owing to the capital they’ve gotten from…you guessed it, making lots and lots of real estate investments that have paid off!)

Banks are onto this and are hesitant to lend money to these specific groups. So where are you supposed to get the money? Hard money lenders like Lending Bee, Inc. understand this issue and are uniquely positioned to help you compete with the bigger players.

What is a Hard Money Loan?

A hard money loan is simply a loan based on tangible assets. It uses your existing property as collateral and gives you fast access to a portion of that property’s value in the form of a loan. Understandably, banks and other conventional financial institutions don’t want to deal with the headache of trying to ascertain the value of this collateral.

They have too many customers and don’t like taking risks on people that are going to fix and flip property, or contractors who want to build. So although they can’t outwardly say “we won’t finance this” to you up front, they will drag their feet on your approval to where you miss out on many lucrative opportunities as a result.

Why Apply for a Hard Money Loan?

This process doesn’t follow the traditional idea of applying for a loan and then paying it back over time. Instead, the lender just sells the collateral if the loan isn’t paid back within the agreed-upon time. This means that the loan isn’t tied to your credit history or your ability to repay the loan. The only thing that the lender looks at is the value of the collateral separately from anything else.

As you might imagine this opens up a great number of opportunities — opportunities to act quickly and make an offer that stands out and gets noticed — just like what larger players have been doing for decades.

What Kind of Homes Can You Buy in Orange County with a Hard Money Loan?

You can buy a variety of homes with a hard money loan, including residential homes, commercial property, industrial property, land and more. Remember, because a hard money loan isn’t tied to your credit report, lenders don’t care so much about what kind of place or property you buy as they will have for the collateral that you intend to put up for it.

This is called the LTV or Loan to Value ratio. Hard money lenders will look for something at this amount or lower so that they can recoup their investment in the event that you’re unable to repay the loan.

How Can Lending Bee Inc. Help Me Get a Hard Money Loan?

As professionals and experts in the financial and real estate world, we understand the ins and outs of hard money lending. We work hard to look at your specific circumstances as well as take the time to get to know your needs in order to help you get the right kind of alternative financing and reach your goals.

We are licensed in the state of California and serve communities and cities including Orange County, Los Angeles, San Diego and San Francisco. We’re happy to give you a free, one-on-one consultation to help you better understand your options with regard to a hard money loan and other forms of alternative financing.

Benefits of a Hard Money Loan

There are several notable benefits to securing a hard money loan. Not only will you get faster access to funding than going the traditional route through a bank or other financial institution, but hard money loans also have a greater amount of flexibility. You can get a flexible repayment schedule and there are fewer guidelines involved.
However, before you jump in with both feet, it’s important to know that there are some downsides to hard money loans. For one, they’re not meant to replace the traditional mortgage process. Instead, you’ll still want to take advantage of the traditional mortgage in order to get lower interest rates, but with a hard money loan, you can get quick access to financing in order to make an attractive offer in a competitive real estate market.

And while it is possible that the lender could sell your assets in order to recoup their losses, you must also understand the perspective from their point of view — they’re not looking at your credit history, your income or anything else in terms of lending you money, so they’re taking a far greater risk than the bank would.

Even if you have bad credit, slow credit or no credit at all, you can still apply for a hard money loan. To learn more, contact us today. Our financial professionals would be happy to explain the process in more detail as well as take the time to answer any questions you may have. If you’re interested in applying for a hard money loan, we can help you connect with our expansive network of lenders in order to get the best deals for your real estate investment needs or your construction project.