HWH San Diego Hard Money Lender - Real Estate

A hard money loan is any loan secured by a “hard asset” like commercial or residential real estate. It is sometimes called a bridge loan, private capital loan or private loan. A hard money loan is a first mortgage on investment real estate. A hard money lender looks to the property as the primary collateral as opposed to the borrowers credit score or other factors. A hard money loan is an alternative to a traditional bank loan.

There are no upfront costs that Heritage Wealth Holdings LLC will charge to the borrower, the only cost that a borrower may be paying before close will be an appraisal - but that is done to a 3rd party, not to us.

Generally, for residential bridge, ground-up, and fix-and-flip transactions there are no pre-payment penalties. For long-term loans, pre-payment penalties are standard but can be negotiated down to no pre-payment.

Getting a hard money loan is traditionally much faster than getting a traditional loan from a bank. That’s because the lender does not have to verify all your financial information. With Heritage Wealth Holdings LLC, you can get a hard money loan in an average of 14 days.

Typically lending on residential assets from 1-9 units. We will consider 10+ units on a case-by-case basis. For these residential properties, we will look at ground-up, fix-and-flip, rental, or strictly bridge projects.

Generally for residential projects, our minimum loan amount will be $200,000 and a maximum of $5,000,000. We will consider higher/lower loan amounts on a case-by-case basis with mitigating circumstances. For large-scale development projects or multifamily/commercial projects we have higher limits.

Here is a basic overview of the necessary documents that our loan officers will request/need from you:

1) Loan Application

2) 2 Months Bank Statements

3) Driver's License

4) Entity Documents (if property is vested in an entity)

5) Appraisal

6) Lease agreements + rent verification (if a DSCR loan)

7) Scope of Work/Rehab Budget (if fix-and-flip)

And that is IT for the majority of transactions we originate. We make it as easy as possible to receive financing.

We are currently lending 42 states! Easier than listing what states we lend in, here is a list of states we are currently not able to lend in:

1) North Dakota

2) South Dakota

3) Minnesota

4) Vermont

5) Louisiana

6) Utah

7) Alaska

8) Nevada

New states are always opening up, so please check with a member of our team if you are in need of financing in the above state and we can see if there's an estimated timeline of when those states will be open to lend in.

Getting a traditional mortgage from a bank to rehab a property is difficult because banks don’t want to lend money to homebuyers who are not going to live in the home. Banks that lend this money do so at a higher interest rate, and approval takes so long that you often miss out on the sale. With a hard money loan, you get your cash quickly — within days. Sometimes a hard cash loan is the only avenue available for purchasing an investment property.