New Construction Loans in Los Angeles
Do you need a new construction loan for your next project? New construction is an excellent niche to invest in! When starting a project, one of the first things to do is to get your financing in order. Without good financing, you won’t have a project at all. Here’s what you need to know about hard money loans for ground-up construction in Los Angeles.
What Is a Hard Money Loan?
A hard money loan is a type of asset-based financing that is provided by a private lender rather than a traditional lender. Hard money loans are secured by real estate. They are much more flexible and quicker to obtain than the average traditional loan, making them an excellent choice for real estate investment projects such as new construction.
What Type of Loan Are You Looking For?
No matter what your real estate investing strategy is, you can find a hard money loan to match. Some investors need fix and flip loans, short-term rental loans, long-term rental loans, cash-out and refinances, or rental property loans. However, new construction is slightly different than other types of property investing. Instead of fixing up a dilapidated property, you are building something from the ground up.
If your goal is to get a hard money loan for a ground-up construction project in Los Angeles, you will likely need a new construction loan or a commercial bridge loan. We offer each of these loan types at Sunset Equity!
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PRIVATE MONEY LENDING RATES STARTING AT 7.49% APPLY NOWCONTACT USObtaining a Loan in Los Angeles
The good news is, getting a hard money loan for new construction in Los Angeles is an easy process. In fact, you’ll have a lot less paperwork and a much shorter wait time when going with a hard money lender as opposed to getting a traditional loan. Sunset Equity makes it simple to get started. Just fill out our online form at your convenience or schedule a consultation. We’ll guide you through the process from start to finish.
Getting Approved for a Hard Money Loan
Getting approved for a hard money loan is generally easier than getting approved for a traditional mortgage loan. People who don’t meet the requirements for traditional loans often turn to hard money lenders instead and find it much easier to get their financing.
Buying Land with a Hard Money Loan
While other investors may use a hard money loan to purchase an existing apartment building or condo development, if you are looking into ground-up construction in Los Angeles, you will likely be purchasing raw land to be developed. Luckily, you have a variety of options when it comes to hard money loans. You can use one to purchase nearly any type of property you want, including land for new construction.
How Sunset Equity Can Help You
As an investor, your goal is to build wealth through real estate. As hard money lenders, our goal is to help you make that happen! We offer custom-tailored, straightforward, common-sense loans with extremely competitive rates and funding within 48 hours of valuation. Get in touch today to learn more or to get started with your new construction Los Angeles loan!
