List of private lenders for Los Angeles owner-occupied homes. Private money / hard money is primarily for investment properties. Only a handful of private lenders will consider a borrower's primary residence or 2nd home as collateral. Some of the companies listed here are not private lenders, but they offer a mortgage solution for borrowers who are self-employed, have credit challenges or a unique financial situation.
$150,000 Private money bridge loan secured by a second trust deed on a single family home in Long Beach. Although the property is owner-occupied, this is a business purpose loan. While the Borrower was waiting for his account receivables to be received, he was in dire need of funds to pay off his vendors and suppliers in order to be able to place new purchase orders for the next upcoming "fashion" season. The home appraised for $940,000 and had an existing 1st mortgage balance of $539,400. The combined LTV with this new 2nd trust deed mortgage is 73.34%. Noelle's team was able to fund the loan in less than 10 business days. This private mortgage was funded in February 2015.