We’re bringing personal relationships back to the hard money lending business. We move fast and close more deals because we create confidence in every partnership.
“For the past decade, Maggio Capital has provided very competitive financing solutions with unparalleled customer service. Our reputation speaks for itself and we appreciate the opportunity to help people.”
–Carl Maggio, Founder
Equity-Based Residential & Commercial Real Estate Loans in California.
Maggio Capital is a Los Angeles hard money lender. We make stated income, equity-based loans for borrowers who can’t qualify for a bank loan or who simply need capital quickly. Approval requirements are based on equity in a residential or commercial property in California and the purpose for the loan. We specialize in 1st and 2nd position loans from $31,000 to $5,000,000 for up to 5 years.
Los Angeles Hard Money Loans
- No Credit Score Requirements
- No Income Requirements
- No Bank Statements
- No Tax Returns
- No Debt to Income Requirements
- Very Competitive Rates
- Self-Employed Borrowers
- Individuals, Trusts, Entities
- Short Sale or Foreclosure
Why Choose Maggio Capital for Your Hard Money Loan?
From Our Clients:
Maggio Capital Streamlined Loan Process
Apply online or call to speak to a decision maker.
Receive your loan approval within 24 hours.
Most of our loans are funded in less than 10 days.
All loans are secured by residential and commercial properties located in California.
Single Family Residences, Condos, 2-4 units
Multi-Family 5+ Units, Apartment Buildings
Office, Retail, Industrial, Mixed-Use
How does a real estate investor qualify for a hard money loan in Los Angeles?
Los Angeles Hard money loans are very useful for real estate investors in California. Typically, private money lending is utilized by investors who are either purchasing or refinancing a property that has too much deferred maintenance or is uninhabitable, perhaps they have some past credit issues that the bank underwriters can’t overlook, or they may simply need to close on a deal in a time frame that is unrealistic for traditional financing. Whatever the circumstances may be, most hard money lenders utilize the “make sense” underwriting approach and focus primarily on the asset, not the borrower’s income or credit history.
To obtain a hard money loan you will need equity in a residential or commercial property, a business purpose nature to the transaction and a realistic exit strategy. Most hard money lenders require that the borrower have at least 25% protective equity in the property. When a borrower has significant “skin in the game” or protective equity it is less likely that he or she will walk from the project or property in the event of a market downturn, project cost overruns, etc.
Private Hard Money Lending Experts
Business purpose loans are defined as a loan to acquire, maintain, or improve rental property, working capital for an existing business, etc. A business purpose loan is not for personal, family or household use, and thus much easier to qualify in relation to consumer purpose loans. Realistic exit strategies can include the sale of the subject property or another property in the borrower’s portfolio, a bank refinance after the property is stabilized and generating rental income, a cash infusion, etc.
Although LA hard money lenders have higher interest rates than traditional mortgages, they also have many advantages. First and foremost, the “hard money” lending industry has undergone fundamental changes in the last few years with the industry becoming more mainstream. Private loans are simply much more cost effective than they have ever been and obtaining a hard money loan can be much cheaper than taking on an equity partner.
Another significant advantages to taking out a hard money loan is speed. Most hard money lenders can typically underwrite and fund a loan in a matter of days, not weeks or months. Furthermore, the documentation required for qualifying purposes is minimal in comparison to banks. Also, if a borrower has had a recent foreclosure, bankruptcy, bad credit, late payments, etc., but has equity in a property, a hard money lender could be an option. Hard money lenders essentially allow non-bankable borrowers access to purchase money financing for real estate investments or access to cash from the equity in their property that would otherwise likely not be accessible.