SALINAS
PRIVATE HARD MONEY LOANS

At Lantzman Lending we understand how important it can be to get the money you need as quickly as possible when real estate deals are involved. That’s why we have some of the most fair, cost-effective hard money loan terms you’ll find anywhere. Unlike traditional bank loans, our hard money loans are structured specifically to optimize your funding needs so you have the freedom to move on those important deals now. 

Of course, every individual loan is tailored to meet your specific needs but in general, here’s what you can expect with a Salinas hard money loan from Lantzman Lending:

• Financing that ranges from $50,000 up to $3,000,000+
• Up to 65-70% ARV; Up to 85% Acquisition + 100% Rehab
• First position loans for non-owner occupied (NOO) properties only
• 6-24 month terms (longer terms considered on a case by case basis)
• Interest rate from 7.99%
• Loan origination fees vary depending on the length of term
• No prepayment penalties

Whether you’re looking for hard money loans in central Salinas or the greater Salinas area, you need a lender who understands the complex nature of real estate investments and financial transactions. Lantzman Lending has been at the forefront of the hard money lending business with our commitment to making the process as smooth as possible. We eliminate the need for a middle-man and put you in the driver’s seat so you can take control of your financial future.

Getting approved for a loan can be a stressful process, but with hard money loans from Lantzman Lending, that doesn’t have to be the case. We make applying for a loan in Salinas as easy as possible. Simply fill out our online preapproval application and you’ll get a response within 24 hours. We know that speed is essential when it comes to closing real estate deals, which is why our average closing time is 5 to 7 business days. If we have all of your documentation, we may be able to close in as little as 3 days. Each loan is handled on a case-by-case scenario and we may be able to accommodate special requirements. 

With every loan, the end goal is always to get the funds to you as quickly as possible so that you can close on the deal for your dream property. Since we focus primarily on the strength of the loan and collateral, your financial problems will not be a hindrance. Unlike traditional loans, limited income, low credit score, past foreclosures or bankruptcies won’t stand in your way when you’re dealing with us. As direct money lenders, we can provide approval quickly and easily, no matter your circumstances.

The average hard money loan amount in Salinas is $345,455. Of course, specific amounts can vary from one case to another and may depend heavily on the lender you choose. Lantzman Lending offers competitive rates on all of our hard money loans because we know how costly it can be to get in on the real estate market in Salinas. A lack of funding should never keep you from making your dreams come true, so we’ll do everything we can to get you the money you need without stretching your budget.

Lantzman Lending offers loans for a wide variety of properties in the Salinas area, from fix and flip to land loans and everything in between, including:

• Fix and flip properties or rehab: single family, multiplexes, condominiums or apartments
• Construction
• Refinances
• Commercial: multi-family units, office spaces, industrial zones, hotels, motels or restaurants
• Probate, Trust & Estate

With traditional loans, a low credit score can be the kiss of death, making it next to impossible to get the approval you need. Lantzman Lending makes approval easier so a low credit score won’t stand in your way. We have no minimum credit requirements or income threshold requirements. Nothing will keep you from completing that dream real estate deal and securing that property you’ve always wanted.

How can we get money to you so quickly? It’s simple. As hard money lenders, we don’t focus on your financial history, which means there’s no need for intrusive credit and background checks. Instead, we put the focus on your collateral, meaning property, retirement accounts, home equity or even cash, whatever you can use to finance the loan in the event of default.   

Let’s face it, with an average home price of $689,004, the Salinas real estate market is not for the faint of heart. In order to get in on the ground floor, you need a lender who can provide quick approval, regardless of your credit score. Lantzman Lending is ready to be that lender, helping you to get the financing you need without the added stress involved in traditional loans.

No. Private investors / hard money lenders simply want a good return on their investment but they will protect themselves from losing the investment by using the equity in the property. This is a common misconception, private investors / hard money lenders just want the payments made on time but if the borrower is having difficulty they will ensure that it will not be a long-term problem.

Yes, we are a direct lender, which simply means that the money we fund our loans with is our own and is readily available. Some lenders have to raise money to fund their loans or have to go out and find a direct lender to fund their loans because they don’t have the money to fund the loans themselves.

This is dependent from investor to investor but typically you will only need to provide minimum documentation to obtain the loan. The vast majority of our borrowers are only required to fill out our one-page application and supply a recent credit report.

Yes we do! It’s best to submit a loan application before you go to the auction to make sure your thought process for determining property value is in line with Lantzman Lending’s and that you have a pre-approval letter in hand. 

Auctions such as REDC, Auction.com, and Williams & Williams should not be confused with the trustee sale. Every auction company is a little different, and you will need to find out what each individual auction company requires. Requirements and procedures, including deposits, working with Brokers/Realtors, and percentage at closing, can change from auction to auction and even within the same company. 

Always read the website or auction catalog before attending. Most auctions will require a deposit in the form of a cashier’s check ($2,500-$5,000) to bid. If you are the winning bidder, you will be required to put up money up to 5% of the purchase price. Again, this will vary per auction and will vary depending on the number of properties you purchase. 

You will be responsible for the deposit to bid at auction and the down payment at the auction. Once you have purchased, typically you will have 30 days to close the transaction. Lantzman Lending can perform much faster than required in this scenario.

Lantzman Lending does fund trustee sale purchases by way of refinance. Lantzman Lending does not give investors money to purchase at the trustee sale. Instead, once an investor is the winning bidder on a property at the trustee sale, the investor should submit a loan application immediately. This allows us to open escrow so when the trustee’s deed is obtained by the investor, funding happens within a few business days.

Click on apply and fill out the required information. You will get a response within 24 hours from submittal, or you can contact us directly to discuss your scenario.

Our average closing is 5 to 7 business days. However, if we have all the documentation we can close in as little as 3 days. Each transaction is handled on a case-by-case scenario. If there is a special requirement, we may be able to accommodate you.

If you have a low credit score, Lantzman Lending may still fund your loan. Our primary funding criteria is based on the equity in the real estate.

Much like credit score issues, your foreclosure record alone will not dictate your application approval. The number one reason people are denied is lack of equity in the real estate.

Hard money (also known as a rehab loan or bridge loan) is the term used for loans funded by private parties who want a safe and high return. Lantzman Lending is a mortgage loan originator who arranges loans for private investors. We work directly with property-buying investors who use these funds to purchase properties with the intent to fix and sell them for a profit or stabilize and refinance with conventional financing. 

Real estate investors use hard money when they are unable to or do not have time to obtain financing from more conventional sources. There are many types of hard money loans. Lantzman Lending specializes in first trust deeds to investors who purchase residential and commercial property.

We will primarily review the collateral to the loan. The strength of the deal is the main determining factor in the loan underwriting. However, we also review your ability to repay, credit-to-debt ratio, cash reserves, and your experience level.

We provide hard money loans in California, Texas and Nevada. Loans made or arranged outside of California must be represented by a Mortgage Broker qualified to do business in that State.

Lantzman Lending may roll some of the repair and loan costs into the loan if the LTV remains under 65%. It is our goal to make both the private lender and borrower successful in every transaction. Our reputation of accomplishing this goal has allowed to continually grow, even in tough markets.