Financing in 92602>Question Details

Michael Vu, Other/Just Looking in Irvine, CA

Is anyone doing 75% ARV Hard Money loans in California?? It is an REO with no rehab. I need anything close to $692k.

Asked by Michael Vu, Irvine, CA Wed Feb 16, 2011

The home is a newer home with no rehab. Comps in this community value around 950-1.08M. Please email me at and we will be in touch shortly.

Thank you

0 votes Share Flag Financing in 92602

Help the community by answering this question:


Most hard money lenders will lend up to 75-80% of the current value of the property. Using ARV makes the loan riskier and thus more expensive for the borrower.
1 vote Thank Flag Link Fri May 8, 2015
There aren't many lenders who would do that. In fact I've only found one that will go up to that LTV. However, at above 500K loan amounts I think they take it on a case by case basis. I was able to finance one of my properties with them recently in the same price range.

1-855 4087694
1 vote Thank Flag Link Thu May 22, 2014
I have a lender friend named Long Nguyen 714 933 5686. He deals with this sort of thing. I have closed deals like this in the past
1 vote Thank Flag Link Wed Feb 16, 2011
Hello Chad: I have a similar scenario as the posting. I have acces to a number of tax lien properties from an agent. They are for sale for pennies on the dollar or from 10% to 25% for sale. I have a zero energy home combined and they makea great investment at todays values. Some financing would also help me. I can be reached at: Dan
Flag Mon Feb 23, 2015
Michael feel free to give me a call we can go to 75% ARV with NO rehab in question if it does not need to be rehabbed why the ARV (After repairs) what are these repairs that are needed ? I am a "Hard Money " Lender based out of Laguna Beach,Ca.92651 and have been in the mortgage business for 25 years ......and always looking to make new connections especially if they are along the Orange County Coastline.Jeffrey Martino Young (310) 984-0496 or on my cell (415) 572-8179.
0 votes Thank Flag Link Fri Jan 18, 2013
I'm assuming you're an investor looking to purchase a REO property to flip. I've done this before as an investor and know off the top of my head around 2 local guys that are active in the SoCal market that will do 75% ARV hard money loans. I would really look at the points, interest rate, miscellaneous fees, and the total time frame from funding to resale date in order to find the right fit for your particular investing strategy. I know there are companies that can fund within 48 hrs, however most take longer to conduct their due diligence. There are several hard money programs that fit various needs of the investor such as long term 8 year hard money loans that are interest only to trustee sale programs for flippers. I would also second the suggestion for local community banks/credit unions because they often provide excellent programs that may be along par with creative hard money programs.
0 votes Thank Flag Link Fri Mar 16, 2012
Hi, will you provide the names of these Hard Money Lenders by any chance?
Flag Thu Mar 22, 2012

I'm assuming that you've already found financing to close on this property in Irvine, CA. If so, I'm assuming from the thread that you purchase properties quiet often so let me know if your in the market for anything in particular. I work the Orange County market and would be glad to work with you. Visit my profile for my contact info and I look forward to hearing from you.

Thanks and Happy House Hunting.
0 votes Thank Flag Link Tue Dec 13, 2011
If you plan to live in the house, why aren't you going for FHA? What are you paying for the house?
0 votes Thank Flag Link Thu Aug 18, 2011
Hi Michael,

Yes that sounds good , if you still need that loan , you can go online a get a pricing form, you do not need to be an Approved Broker. We work with builders, investors and the general public.

A couple of issues :
1) If we get a value of 1.1M and you want a loan for 629K then you are at 57 LTV., And we can Cross-Collateralize if we don't hit that mark.
2) There is no rehab ? Even better .

We do these everyday at 65 LTV - so your'e good -

Send it over and we will get you pricing right away ,

Bob Thompson
Account Executive
Rush my File, Inc.
0 votes Thank Flag Link Wed Aug 17, 2011
Your statement regarding the asset manager and transactional funding doesn't make sense. An asset manager should only be concerned about selling that property. If you're going to use transactional funding, then should structure this deal using a double close.

What's your exit strategy?
0 votes Thank Flag Link Wed Feb 16, 2011
Because most of my money is currently tied up another property. So, I have little capital to take this down without financing. I do not know anyone wanting to do JV so what other options is there? No transactional funding on this property since the asset manager said he will not do it.
0 votes Thank Flag Link Wed Feb 16, 2011
Hello Michael: I have access to properties for pennies on the dollar.
I also specialize in zero energy homes: You can email me at: This might fit your capital budgets based on your reply above. Cheers.
Flag Mon Feb 23, 2015
Yes. Why go after hard money for a property that needs no rehab?
0 votes Thank Flag Link Wed Feb 16, 2011
In the past Community Bank would lend up to 75% of future value. They have branches all over California. You might want to check and see. We have several portfolio lenders, but none for the niche you require. Our private money loans go up to 60% LTV. .... Happy funding, Rudi
Web Reference:
0 votes Thank Flag Link Wed Feb 16, 2011
Yes, hard money is always available. the terms are the issues usually 60% loan to value and the interest rate is very high I am guessing over 10% and 5 -8 points. I am guessing low fico score and not proof of income.
There are other alternatives.

Ricardo Simon
0 votes Thank Flag Link Wed Feb 16, 2011
I will email you,,,, I just want to be clear on what your looking for, however you said ARV,,, has work already been done?
Looks like your just looking for a Hard money Loan to 75% to buy it then your going to flip, correct?
Is $692K the sale price or loan amount your looking for?


Jeffry Lopez
Sr. Loan Officer
NMLS ID# 255097
Progressive Loan Funding (A Direct Lender)
562.881.3603 (Cell)

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0 votes Thank Flag Link Wed Feb 16, 2011
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