List of private lenders for Orange County 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.
This borrower needed to pull cash out of their primary residence in Mission Viejo, Orange County, to invest in their business. They had a low interest rate on their first mortgage and didn't want to refinance that. They just wanted to pull cash out with a 2nd mortgage. A note was arranged for a 12 month period. It was funded in January 2014, and the borrower paid it off as agreed. Due to regulations on consumer mortgages, most private lenders in California will only secured a loan with an owner-occupied home if the funds will be used for a business purpose.