At First Capital Trust Deeds, we take pride in offering customized lending solutions designed for the unique requirements of real estate investors. Our exceptional service has driven us to help our clients navigate and secure financing for even the most complex scenarios. We specialize in providing short-term hard money and private money bridge loans, and also offer long-term institutional financing options for rental properties. Our lending experts are highly knowledgeable and experienced in the real estate industry, and dedicated to ensuring our clients receive the best possible financing solutions for them. Whether you're a seasoned investor or just starting out, we're here to help you achieve your investment goals.
What Types of Hard Money Loans Does FCTD Originate in Long Beach?
Since 2013, FCTD has originated the following types of hard money loans in Long Beach:
What are the Costs of a Hard Money Loan?
When considering a hard money loan, you need to know the costs involved. The actual expenses vary based on the lender, borrower and property in question — but there are some common expenses you can expect.
First, the interest rate is a fee you pay to the lender for borrowing money, expressed as a percentage of the loan amount. Compared to traditional loans, hard money loans typically have higher interest rates ranging from 10% to 18%.
Upfront points are fees paid to the lender at the time of closing, also expressed as a percentage of the loan amount. One point equals 1% of the loan amount. Hard money loans can charge anywhere from 2 to 5 points.
Finally, closing costs are the fees you pay for various services and expenses to finalize the loan transaction, such as an appraisal, title insurance, escrow, recording and more. Compared to traditional loans, hard money loans may have higher closing costs due to additional fees or charges.
Always compare different hard money lenders and their terms before applying for a loan. These costs will affect your potential return on investment or profit margin, and you’ll want to make an informed decision to avoid any surprises down the line.
Why Choose First Capital Trust Deeds for Hard Money Financing in Long Beach?
Our company has been in the hard money lending business since 2013, and in the process has achieved a wealth of experience and a proven track record. To date, we’ve arranged over 2,500 loans for a total of $2.5 billion. In 2022 alone, we helped more than 500 property investors across 23 states secure financing. Our loyal customer base frequently returns to us for financing as their needs evolve over time.
At every stage of our clients' investment journeys, we adjust to provide appropriate financing options tailored to their unique requirements, whether it involves fix-and-flip, rental properties, new development, or other endeavors. Unlike hard money lenders that rely on a single source of funding, we have a variety of sources at our disposal. This diversification allows us to stay agile in the face of market shocks like the onset of the COVID-19 pandemic.
For instance, when conduit lenders ceased lending, we were able to reroute our loans to mortgage funds, family offices and individual trust deed investors. This ensured that our clients' projects could proceed without interruption. Although we may not always be the best fit for every borrower, we're committed to helping our partners find the funding that best suits their needs.
Our company has a proven history of providing top-notch hard money lending services, backed by our vast experience and diverse funding sources. Whether you're looking to finance a new project or are exploring various other loan options, we're here to help.
