HARD MONEY LENDER | SANTA BARBARA, CA

• Rates from 8.99% and 1 point

• Same-day Approvals, Funding in Days

• No Appraisals (most scenarios)

• No tax returns or pay stubs required

• No minimum DSCR

• No prepayment penalty (available)

• No advanced lender fees

• Up to 70% Loan-to-Value

• Closings in as few as 7 days

Call us now at 818-638-9982 to speak directly with a decision maker. Or, please complete the form if you would like us to contact you.

santa barbara CA hard money lender

Commercial and residential real estate investors have flocked to the greater Santa Barbara area to capitalize on the evolving real estate landscape in this popular coastline market. The pandemic has led an influx of new residents with the opportunity to work from. Hard money lenders in Santa Barbara have been essential to fix and flip borrowers seeking short-term loans to achieve top dollar from home buyers seeking updated property. More than half of students from UC Santa Barbara live off campus, generating demand for student housing. Commercial real estate investors have transformed much of the former retail storefronts along the State Street district to a mix of residential and creative office space to be near popular downtown amenities.

In such a competitive market, you’ll need to be in the position to take quick action. SDC Capital understands the unique hard money lending needs in the Santa Barbara area. With a proven track record and a history of success, we are a reliable direct lender that is well-capitalized and driven to execute.

Are Hard Money Loans Good For Residential Properties In Santa Barbara?

Residential real estate deals in Santa Barbara can happen at a moment's notice. It’s not uncommon to hear stories of homes selling for well over the asking price with all-cash offers. With the competition getting stiffer, you need a way to have a leg up. Whether you’re on the hunt for a single-family property, duplex, or apartment, a hard money loan can help you come to the table with an offer that most buyers can’t refuse. Residential deals call close in a matter of weeks, even days, which is why it’s helpful that Santa Barbara hard money lenders can fund purchases in as little as seven days.

A well-funded Santa Barbara hard money lender will have the resources to fund your next property purchase in Santa Barbara and the surrounding county. Borrowers use hard money loans to purchase a property quickly, then either sell or refinance within 12 to 24 months.  

Are Hard Money Loans Good For Commercial Properties In Santa Barbara?

Do you have a tenant to lease a property to but no property? This is a common reason that real estate investors seek funding from a Santa Barbara hard money lender that’s willing to remedy that situation rather than later by financing your commercial property purchase. Many banks will balk at the idea of financing a vacant commercial property that may not be ready for tenants because it’s in poor condition. This is where hard money can come in handy to real estate investors in Santa Barbara.

We can customize a loan to fit the property you’re investing in, from trailer parks, office buildings, storage facilities, industrial spaces, retail spaces, and much more. With a commercial hard money loan (also called a “no-doc loan” or “bridge” loan), the lending decision is based purely on the commercial property instead of the borrower's credit or financials. This means that hard money lenders like ourselves can fund projects that may fall outside of traditional lending guidelines. A conventional bank will take up to 90 days to fully finance a deal on a commercial property. With SDC Capital, funding can be received in as little as 7-10 days.

Hard Money Rehab Loans In Santa Barbara – Good For Fix & Flip Loans?

Fix and flip hard money loans are among the most common loans originated by hard money lenders in Santa Barbara. These loans are ideal for hard money lenders because flips are usually completed within six months and in as little as two. We know that money loves speed in the fix and flip world, so we work our hardest to get loans closed and funded in as little as seven days. You no longer need to wait months and months to establish a relationship with a bank and get approved for funding while deal after deal passes you by.

Not all real estate investors are flippers. Many enjoy buying distressed properties so they can hold and rent. Whatever your real estate investing strategy, the team at SDC Capital would be happy to help you fund the flip of your next property.

Cash-Out Refinance Loans With A Santa Barbara Hard Money Lender, How?

Cash-out refinances loans are a way to refinance an existing mortgage and borrow cash at the same time. This will result in a higher balance owed on the new mortgage, including the closing costs and the cash you receive. Real estate investors use this strategy to pull equity out of their properties and sometimes secure a better mortgage rate. Using a cash-out refinance loan from a hard money lender allows you to receive funds for your Santa Barbara real estate project quickly. These funds can be used for a variety of different purposes, including paying off debts, purchasing another property, or covering the costs of a renovation. Many real estate investors use the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) to quickly acquire multiple properties in a short amount of time. This strategy works for newbies to the real estate investing game who don’t have the necessary credit history and polished investors who have lots of equity but too many loans to secure traditional financing. If you find a great off-market deal that needs to close quickly, sometimes traditional financing can take too long. Further, you can’t BRRRR a property that isn’t move-in ready with most lending programs. Speak to the team at SDC Capital to discuss your loan scenario and see if you qualify for a cash-out refinance loan.

What is a Hard Money Loan In Santa Barbara?

Hard money loans offer real estate investors an alternative to conventional loans. Their utility is exemplified the most in flix and flips and distressed property purchases for both residential and commercial.

So what is a hard money loan?

Let’s say you find a beautiful house for a purchase price of $500,000 at an auction. They may say you need to come with a cashier's check or proof of funds. Unless you have $500,000 dollars cash burning a hole in your pocket, you’ll need another source to get the cash FAST.

This is where hard money lenders come in.

Unlike a conventional loan that must adhere to strict underwriting guidelines, hard money loans can close quicker than other types of funding.

The upside of hard money loans comes at a risk that real estate investors are willing to take because they come into the deal with a strategy in place and their numbers already crunched. If this is the case for you, then we suggest you get in touch with the team at SDC Capital to discuss the numbers of your deal and see if your scenario makes sense.

What Are The Benefits Of A Hard Money Loan in santa barbara?

Savvy real estate investors know the many benefits of hard money lending and can use them all to their advantage.

Here are a few:

• Flexible Underwriting: Hard money loans go through less stringent underwriting, meaning financing can be available in as little as 7-10 days. Less strict underwriting rules mean hard money lenders can fund deals for properties that are not move-in ready.

• Faster Funding: Almost all off-market deals and auctions require investors to come to the deal with cash in hand or proof of funds. Hard money loans allow you to secure a seat at the table with investors who are fortunate enough to have the cash to win competitive deals.

• Other benefits include lower credit score investors being able to secure funding and access to more capital than banks can provide.

Who In Santa Barbara Typically Uses a Hard Money Loan?

• Investors who need cash quickly

• Investors who cannot secure loans with traditional banks due to poor credit history or other reasons.

• Investors with multiple properties who are looking to cross collateralize one or more properties to get to the desired loan amount.

• Flippers who buy, repair, and immediately sell properties

• Foreclosures: People facing foreclosure can use their homes as collateral to avoid losing it.

The Bottom Line

SDC Capital is your go-to hard money lender in Santa Barbara, CA. Your dream property is just a phone call away. Call us today at (818) 638-9982.

Recent Hard Money Loans in santa barbara county, ca

santa barbara county, California

Santa Barbara County has benefited in recent years from the influx of residents seeking larger housing units and attracted to the coastal living lifestyle, with many residents deciding to stay long term. Private real estate investors make up the majority of commercial property transactions, typically under $10 million per trade. Both residential and commercial property owners tend to hold property longer in Santa Barbara County, compared to owners in other major metro markets in California. As such, borrowers often use hard money lenders in Santa Barbara County to close quickly with fewer contingencies in this fiercely competitive market where low inventory and high demand is a reoccurring theme.

California Hard Money Lenders

When it comes to securing hard money loans in California, choosing a bridge lender who knows your local market can make all the difference. We offer fast, flexible funding solutions across the state, providing real estate investors with the capital they need when traditional lenders fall short.

Check out our lending options in key California markets:

• Riverside Hard Money Lenders

• San Francisco Hard Money Lenders

• Orange County Hard Money Lenders

• Los Angeles Hard Money Lenders

• San Diego Hard Money Lenders

• Sacramento Hard Money Lenders