Our Hard Money Lending Guidelines
| Interest Rates: | Starting @ 9.75% (interest only) |
| Closing Time: | 5 to 7 Days |
| Location: | Anywhere in California |
| Loan-To-Value : | Up to 75% LTV |
| Amounts: | $200K to $2M |
| Origination Fee: | 2 to 3 points, dependant on size and term |
| Lien Positions: | First Trust & Second Trust Deeds |
| Underwriting Fee: | $1500 |
| Loan Term: | 6 to 60 months (extensions available) |
Property Types
- Single-family & Multi-family Investment Properties
- Condominiums
- Retail Centers
- Office Buildings
- Industrial & Warehouse
- Hotels & Motels
- Healthcare & Assisted Living Facilities
- Special Purpose & Mixed Use
- Parking Garages & Lots
Long Beach Direct Hard Money Lender (Not a Broker)
Crescent Lenders is a California hard money lender providing loans in Long Beach and across the greater California region.
We service commercial and residential real estate investors seeking short-term financing for a wide array of investment properties.
We've funded hundreds of millions of dollars in hard money loans across California over the last 10 years and our experienced team has large cash reserves making us your ideal choice as your hard money loan provider.
Our top shelf service, along with low rates and inexpensive fees differentiate us from the pack and make us your go-to bridge lender in Long Beach.
Apply For Your Long Beach Hard Money Loan
Since providing high quality customer service is the core foundation of our business, count on us to answer your phone calls, quickly return emails and to keep a high level of communication on-going throughout the hard money loan process.
We can usually tell you within 5-10 minutes over the phone what the probability of us funding your project is.
Contact us today to discuss your Long Beach hard money loan needs.
Types of Loans We Fund
We finance the following types of private money loans in Long Beach:
- Cash-out
- Purchase
- Probate
- Bridge
- Fix and Flip
Our underwriting process is simple and straightforward with a major emphasis on the loan to value of the property.
As bridge lenders we want to make sure the borrower has enough skin in the game, is able to make the monthly mortgage payments and has an exit strategy for when the hard money loan matures.
Why Use a Local Long Beach Hard Money Lender?
Investors often have a choice between selecting a nationwide hard money lender or a local hard money lender.
Local hard money lenders like Crescent Lenders have strong market knowledge of the local neighborhoods while nationwide lenders cover too many area to be able to assess deals as quickly as us.
We usually meet our borrowers face to face and personally look at the subject property being used as collateral for the bridge loan.
We have been providing fast and reliable service for over a decade with customer satisfaction being our top priority. See what our customers have to say about us below.
What Our Borrowers Say
Top-Rated Provider
I’m a commercial real estate broker and do some fix n flipping on the side here in SoCal. I’ve used a few different HMLs in the past but have created a good relationship with these guys and have repeatedly used them and will continue to do so going forward.
Your Premier Long Beach Hard Money Lender
Our established network of contractors, appraisers, lawyers and title companies in the Long Beach area are available to assist our borrowers with every step of the real estate process.
We view our borrowers as partners rather than clients, therefore your success is our success.
Whether you're looking to refinance your current hard money loan for an investment property in Bixby Knolls, or if you've discovered the perfect home in Naples for a fix and flip project, or maybe you require additional funds for a 1031 exchange on an office building in Belmont Shore, Crescent Lenders is available to support you with your Long Beach hard money loan needs.
The coastal city of Long Beach has a population of nearly half a million people and is popular amongst tourists, boat lovers and those who enjoy the outdoors.
Along with the rest of Southern California, the real estate market in Long Beach is expensive and full of savvy real estate investors looking for bargains.
Bidding wars on homes are common, therefore many real estate investors turn to Long Beach hard money loans because an offer on a home accompanied by a hard money lender is deemed as good as an all cash offer.
More often than not, sellers will not want to wait for other buyers to be approved for a traditional bank loan.
Fast Facts
- The median sale price of a property in Long Beach is $715,000
- The average home stays on the market for 33 days
Hard Money Loans Long Beach
What Is Hard Money?
What Is a Hard Money Loan?
A hard money loan, also known as a bridge loan, private money loan or gap loan, is a loan secured by a "hard asset" like commercial, industrial or residential real estate.
It is generally a short term loan (6 to 60 months) issued by private or commercial investors.
Why Use a Hard Money Loan?
A hard money loan has advantages over a traditional bank loan:
- the approval process is much faster (5 to 7 days vs 30 days)
- fewer requirements
- easier to qualify
- flexible repayment schedules
- better option for those with low credit scores, the self employed, or with a difficult financial history, such as a foreclosure or bankruptcy
What Determines the Cost of a Hard Money Loan?
- experience in the fix and flip industry
- additional sources of income
- your exit strategy from the loan
- and most importantly, the underlying value of the hard asset
What Types of Clients Utlise This Product?
Real Estate Investors, such as:
- Fix and Flippers
- Refinancers
- Real Estate Developers
- Construction Contractors
Our Lending Process
How Fast Can I Expect My Money?
From start to finish, the approval process can take as little as 5 to 7 business days.
How Do You Determine Rate?
Rates are determined by:
- the underlying value of the asset
- the location of the asset
- how much the borrower is putting down
- credit score
- additional sources of income
- property type
How Do You Value a Property?
We do your own analysis from recently sold comparable properties as well as have an appraiser visit the property.
What Is the Approval Process?
The approval process involves a brief phone call with Russ, to collect general background information regarding your financing needs and history.
After this pre-approval phone call your information will be verified through our underwriting process.
Once verified we will send you a term sheet and if you accept, you will receive the funds in your account.
What if My Credit Score Is Low?
While credit score is a factor, bad credit is not a deal breaker as many factors are considered:
- experience in the fix and flip industry
- additional sources of income
- most importantly, the underlying value of the hard asset
Are There Any Types of Hard Money Loans You Don’t Fund?
Crescent Lenders does not fund land, ground-up construction or owner-occupied projects.
Our Lending Guidelines
What Is Your Max LTV?
Our maximum loan-to-value ratio is 75%.
How Much Can I Lend From Crescent Lenders?
Our loans start at $200K and go up to $2 million dollars.
What Property Types Do You Lend On?
We fund most property types, including:
Residential
- Multi-family Investment Properties
- Single-family Investment Properties
- Condominiums
Commercial & Retail
- Retail Centers
- Office Buildings
- Hotels & Motels
- Healthcare & Assisted Living Facilities
Industrial
- Industrial & Warehouse
- Parking Garages & Lots
- Special Purpose & Mixed Use
What Lien Positions Do You Fund?
We fund both First Trust & Second Trust Deeds.
What Term Lengths Do You Offer?
6 to 60 months, (extensions are available)
What Fees Do You Charge?
We do not require any upfront fees, but charge 2 to 3 points, depending on the size and term length of the loan and a $1500 underwriting fee.
Suite #116, 999 Overland Ave
Los Angeles, California
90064
Los Angeles, California
90064