Private Money Loans

Direct Private Money Lenders for Real Estate in California

RTI Bridge Loans is one of the most experienced private money lending companies in California serving Los Angeles County and Orange County by providing quick approval, funding and reliable private money loans. A private money loan is another word for hard money loans – acquired from a hard money lender for a short amount of time. It’s merely a way to borrow money without using traditional lenders like banks. Based on what type of property you are using as collateral, private money lenders will provide you with a short-term loan that is used for roughly one year.

The underlying meaning of a private money loan is a finance that is given to companies or individuals by a private person or organization instead of going through a financial institution or a bank. The professionals at RTI Bridge Loans can provide you all of the information you need to acquire this hard money – give them a call today! Let’s take a closer look at private money loans and private money lenders, how they work, and how they can benefit you.

30 Years Of Experience
30 Years Of Experience

Partner with one of the most reliable and professional direct hard money lenders in California with over 30 years of hard money lending experience.

Fast Approvals And Funding
Fast Approvals And Funding

Quick approvals and direct funding when time is off the essence and need capital on critical opportunities in this fast-moving real estate market.

Leverage Your Money
Leverage Your Money

Maximize Leverage with our financing up to 70-80% LTV of the residential, commercial or mixed project at competitive hard money loan rates.

Background

Recent Deals

We Fund California Real Estate Projects

RTI Bridge Loans, one of the most experienced direct hard money lenders in California serving Los Angeles and Orange County. We fund hard money loans to Real Estate Developers and Investors, regardless of the size or a challenge of the project, ranging from Bridge Loans, fix and flips to Private money Loans and commercial acquisitions. We provide quick approval and funding with competitive rates and reliable service through asset-based lending for various real estate projects and transactions.

Hard Money Loans Real Estate California

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How Private Money Lenders Work

Private lenders enter risky territories when they finance hard money to borrowers – hence the higher interest rates. However, as a bonus, lenders don’t necessarily look at your private info as much as they are concerned with the collateral property. Private money lenders will check your credit history (sometimes), but it’s not as daunting as it sounds. Most lenders look past prior credit if you have substantial equity in your property or your fixing and flipping what will be a very pricey property.

Monthly payments will consist of only interest, which can be anywhere from 7-12%, depending on the loan term. The pre-qualifying process only takes a day, and you can receive your funds only 1-2 weeks after applying. Many people opt for private money loans due to the speedy process. Your private money lender will also probably want to see a reliable repayment schedule, so be sure to have your plan of action ready before you meet with your lender.

Why Use Private Money Loans?

Hard money is so expensive, so why should you use it? There are many incredible reasons why private money loans are chosen over traditional loans and here’s why:

Flexibility

Private money loan agreements are much more flexible than traditional loans. Private money lenders do not use a standard underwriting process, and instead, they evaluate deals individually. Your borrowing from a less strict individual or company, not a big bank with a strict process.

The Approval

Collateral is the most important factor for private money lenders. For example, if you’re buying an investment property, your lender will lend as much as the property’s worth. If you’re trying to borrow against one of the properties you own, the value of the property is what the lender cares about most. Many lenders will ask about your personal finances, but for the most part, your credit history will go overlooked. If you have the right assets, your approval will be quick and easy.

The Speed

Private money loans are closed much faster than traditional loans because the lender is more concerned with that collateral rather than your financial situation. Less time is spent going through your loan application with a fine-toothed comb, and more time is spent getting your private money into your pockets.

When Do Private Money Loans Make Sense?

Private money loans make the best sense when you want something short-term. Fix and flip investors are a great example of private money users – they own the property just long enough to fix it and flip it, then sell the property and repay the loan usually within a year. If you want to stay in a property that you bought with hard money, it is possible. However, you’ll want to refinance as soon as possible.

How To Find Private Money Lenders Real Estate

Nowadays, private money lenders are found less in person and more often online – simply by searching ‘private money lenders near me’! It’s really as easy as that. There are, however, a few tips to keep in mind when you’re on the search. You’ll want to find out who in your area will lend you money based on collateral. You’ll want to reach out to a few lenders who are highly reputable, discuss your needs, and then develop a good relationship with the lender so that when the time comes, you can fund projects easily and quickly.

If you live in Los Angeles or Orange County, contact RTI Bridge Loans today in order to get all the info you need to fund your next project.

Hard Money vs. Private Money – What’s The Real Difference?

Lenders and borrowers generally see no differences between a hard money loan and a private money loan. Both loans are given to borrowers outside of conventional banking systems, with the loan being secured by commercial or residential real estate (the collateral). The major difference in some cases may be that hard money lenders are established companies, whereas private money lenders are sometimes individual investors willing to loan from their personal funds. Regardless of the type of investor, the process for both hard money and private money financing is generally the same.

Contact RTI Bridge Loans today for private money loans in Los Angeles and Orange County, California. We specialize in speedy private money loans for your investing needs and can provide you with all and any answers to your questions over a simple phone call.

Final Thoughts

Private money loans, like hard money loans, are an excellent option for people with a not-so-good credit history to get funds in order to secure a new property for yourself, or for certain projects like fix and flip projects. With no major difference between hard money loans and private money loans, you can rest easy knowing that with RTI Bridge Loans, you will be in professional hands when it comes to your financing needs.

If your personal credit history is preventing you from getting a traditional loan, it’s probably time to check out short-term private money loans as a solution – you will be happy you did!