Why Choose First Capital Trust Deeds for Hard Money Financing in Riverside?
At FCTD, we are experts in hard money lending. Our company has been in operation since 2013 and has successfully originated over 2,500 loans, totaling more than $2.5 billion. In 2022 alone, we originated over 500 loans for real estate investors across 23 states. Our clients return to us time and again to help them navigate their projects with the right loan products.
Our approach is focused on building long-term relationships with our clients. Many of our borrowers initially came to us for a specific type of loan, such as a fix and flip loan. However, as their needs changed over time, we provided them with new financing solutions to fit their new projects. Whether it's rental properties, second mortgages, ground-up construction, loans for primary residences, or cross-collateral second mortgages, we’re there every step of the way.
As mortgage brokers, we’re not limited to a single capital source like many hard money lenders. This is particularly valuable in times of economic uncertainty, such as the onset of COVID-19, when many conduit lenders froze all funding. At FCTD, we shifted our loans to mortgage funds, family offices and individual trust deed investors, enabling us to keep projects moving forward until conduit lenders resumed lending again.
While we recognize we aren’t always the best fit for every borrower, we’re committed to being a resourceful partner that helps our clients navigate the best financing options for their projects. If you're searching how to fund your next real estate investment project, we invite you to contact us at First Capital Trust Deeds to see how we can help you achieve your goals.
What Property Types Does First Capital Trust Deeds Lend Against?
Riverside Hard Money Loan Types
Hard money loans can be used for a variety of different purposes. First Capital Trust Deeds originates the following types of loans for real estate investors in Riverside and the Inland Empire:
What are the Advantages of a Hard Money Loan?
When comparing financing options for a purchase, refinance or cash-out refinance, hard money loans offer several advantages. First and foremost, they typically have a much faster closing time than traditional financing. In urgent cases, lenders like First Capital Trust Deeds can close loans in as few as 24 hours, although the average time frame is usually 5-14 days.
Additionally, credit scores are less of a factor for hard money loans, making them more accessible for borrowers with less-than-perfect credit. However, the lender will still review the borrower's credit history to assess whether they’ll qualify for long-term financing to repay a bridge loan.
Lastly, hard money loans can be used to finance properties that are in need of rehabilitation or are non-stabilized, meaning they’re either vacant or have a high vacancy rate. These properties are typically ineligible for traditional bank loans. Hard money loans make it possible to purchase these properties to rehabilitate or stabilize with long-term tenants.
If you're considering a hard money loan, it's important to research various lenders and compare their terms and fees. While hard money loans can offer unique advantages, they can also come with higher interest rates and fees than traditional financing options. Nevertheless, for borrowers in need of quick and flexible financing, a hard money loan may be an ideal solution.
