Hard Money Lenders with no Credit Checks 

Hard money lenders with no credit checks

If you want to invest in real estate but have bad credit, you may think you can’t get a loan. But that’s not always true with hard money lenders’ flexible financing options.

They value the property’s worth over your credit score. If you have a good investment opportunity, you may get funding.

Benefits of No Credit Check Hard Money Loans

Seize opportunities quickly

Time is of the essence in real estate investing. When you find the perfect multi-family or commercial property, you can’t wait weeks for a loan. But hard money lending offers you:

  • Quick financing, often within days.
  • Streamlined approval processes with less paperwork (sped up the approval).
  • Focus on collateral property value; save time on borrower credit score checks.
  • Flexible terms and conditions to match investment strategy and the specific needs of a project.

Rebuilding Your Credibility

Finishing a project funded by a hard money loan can boost your reputation with private lenders. It can help you get more funding in the future.

Grow your real estate Investor portfolio.

Hard money loans can help refinance and grow a real estate portfolio. They have several advantages:

  • Dominate time-sensitive transactions with flexible hard money loans.
  • Bridge the gap with short-term financing for swift property acquisition and renovation.

Looking for hard money lenders in Irvine, CA

Don’t let credit challenges stop your next real estate investment. At Irvine, CA, CS Financial Group Inc. specializes in hard money loans with simple documents, appraisals, and quick disbursement. Apply now to get a hard money loan!

How Our No Credit Check Loans Work

LTV-Focused Lending

We base our hard money loans primarily on your property’s Loan-to-Value (LTV) ratio. It’s simple:

LTV = Loan Amount ÷ Property Value × 100

Example: $150,000 loan on a $200,000 property = 75% LTV

Our lending parameters:

  • Range of 65 – 75% LTV for residential properties.
  • Up to 75% LTV for commercial real estate.
  • Up to 50% LTV for raw land.
  • Higher LTVs are available for experienced investors.
  • Rates are adjusted based on the LTV ratio.

Property Types Focused

We provide loan options for multiple property types:

  • Second Homes
  • Commercial Projects
  • Apartment Buildings
  • Shopping Centers

Case Study: Flip and Flip Loan to Stop Foreclosure Real Estate

The Challenge
A seasoned real estate investor, John found himself in a precarious situation. He had purchased a property to fix and flip sell quickly, but unexpected delays and cost overruns had depleted his funds.

Facing mounting pressure from his creditors, he was on the verge of foreclosure. His poor credit history made it impossible to secure a traditional loan from a bank.

The Solution
Desperate to save his investment and avoid foreclosure, John turned to CS Financial Group Inc. They are a private lender that specializes in hard money loans.

These loans are based on the property’s value, not the borrower’s credit. So, they are a good option for those in distress.

The Hard Money Loan to Stop Foreclosure

Loan Purpose: To prevent foreclosure and finance the remaining renovations.

Loan Amount: $200,000 (based on the property’s after-repair value).

Loan-to-Value (LTV): 66.67% (calculated as Loan Amount / ARV).

Rate: Higher interest rates than conventional loans, reflecting the increased risk to the lender.

Terms: Short-term loan, typically with a 12-month repayment period.

The Project

With the hard money loan secured, John could complete the renovations and prepare the property for sale. Here’s a breakdown of the project details:

Purchase Price: $150,000 (original acquisition cost).

Rehab Costs: $50,000 (including materials, labor, and permits).

After Repair Value (ARV): $300,000 (estimated market value after renovations).

Time to Close: 7 days (thanks to the lender’s streamlined process).

The Renovation

John focused on key renovations to maximize the property’s appeal and value.

Cosmetic upgrades include wall painting, new flooring, and updated fixtures in the home.

Kitchen and bathroom remodeling: modernizing these crucial areas.

Landscaping and curb appeal enhancements: creating a positive first impression.

The Outcome

Exit: The property sold for $285,000 within 45 days of completion.

Gross Profit: $85,000 (calculated as Sale Price – Buy Price – Rehab Costs).

Foreclosure Averted: The hard money loan saved John’s credit and investment. It allowed him to avoid foreclosure.

Frequently asked questions

What are the typical rates of hard money lenders who don’t check credit?

Hard money loan rates range from 8% to 15% and vary by lender, loan amount, and loan-to-value ratio (LTV).

What is the typical loan duration for hard money lenders?

Hard money loan terms are usually shorter than those of traditional lenders. They typically last 6 to 24 months and may require balloon payments.

What types of fees can I expect when working with a hard money lender that doesn’t require a credit check?

Common fees include origination, processing, and closing costs. They can add up to several percentage points of the loan amount.

How quickly can I get funded with a hard money loan when no credit check is required?

Funding can be much faster than traditional loans. It often takes just a few days or weeks. The approval process focuses on the property’s value, not the borrower’s credit.

What is the maximum loan-to-value (LTV) ratio I can expect with no credit check hard money loans?

LTV ratios range from 65% to 75% and vary depending on the lenders’ requirements!

Publish: November 15, 2024 | Last Update: December 24, 2024
Sandy Yuen

Sandy Yuen is a certified mortgage broker. In 20 years of hard money lending, she’s funded over $450 million for investors. She specializes in fix-and-flip, bridge, and construction loans.

She also funds projects like second homes, apartments, and commercial and shopping centers. Sandy, a trusted lender, served over 500 clients in Irvine, CA. She is known for her fast approvals, flexible rates, and high transparency.

Share This Story!

Local & National

While we are based in Southern California, our reach is national. For the exception of a few states, we have funded loans all across America in some of the largest and most active metropolitan areas.

We have also worked with clients ranging from local, national, to global, helping them secure the right loan for their project.

Ready to Start?

Let’s being the process with a complimentary consultation. As we specialize in custom hard money loan solutions for our clients, we want to better understand your specific needs in order to offer you the best program available.

Please fill our inquiry form to get the process started!

Complimentary Consultation

Call Today: (888) 838-9827