Equity-Based Hard Money Loans for Residential and Commercial Properties in Santa Barbara
At Socotra Capital, we take pride in being the premiere hard-money lender for real estate buyers throughout Santa Barbara. As your experienced, private-money lender, we’ll put our knowledge to work on your behalf if you need to refinance or purchase real estate without using conventional funding such as an FHA loan. We originate, underwrite and fund all of our loans directly from our Sacramento office.
We underwrite hard money loans for qualified Santa Barbara investors to meet a wide variety of needs. We provide:
- Fix and flip loans in Santa Barbara
- REO (real-estate owned) and short sale transaction support
- Bridge loans
- Commercial rehab loans for buildings in Santa Barbara
- Residential rehab loans for homes in Santa Barbara
- Loans for ground-up construction in Santa Barbara
As a flexible hard-money lender in Santa Barbara, we also consider other real estate purchase scenarios that might qualify for financing via a non-traditional loan by a private, trustworthy lender. At Socotra Capital, we will do everything possible to meet your financing demands quickly so that you can take advantage of the investment opportunities before you. We believe that your success is our success, and we’re proud to serve as a financing partner for real estate projects that simply can’t be accomplished without hard money loans.
At Socotra Capital, we meet the hard money loan needs of businesses, investors and trusts throughout Santa Barbara. However, our headquarters is located in Sacramento and we’re especially proud to meet the needs of investors across California. Let us put our expertise and knowledge of the local market to work on your behalf.
Your Santa Barbara Hard-Money Lender of Choice
There are many reasons that buyers are unable to secure conventional loans or financing to buy real property throughout Santa Barbara. At Socotra Capital, we understand that some buyers simply have needs that traditional financial institutions can’t meet. We specialize in providing the flexible, hard-money financing solutions that our clients need in order to purchase real property.
Our hard-money underwriting guidelines are focused on the overall equity of our borrowers, not just their credit. We are often able to help potential buyers who have gone through foreclosures or bankruptcies or have otherwise low credit scores. We are proud to provide professional, timely service to each and every one of our clients throughout Santa Barbara. It is our goal to help you find financing for projects that conventional lenders won’t back.
At Socotra Capital, we also understand that investors who are pursuing real estate projects need to access cash more quickly than is possible with conventional loans. We’ve streamlined our loan application process to provide for same-day prequalification for our hard money loans whenever possible. If you would like to learn more about your equity-based, hard-money financing options, fill out our Hard Money Loan Interest Short Form today.
Hard Money Loans for Residential Properties
Securing alternate financing for the purchase of a residential property in California or Nevada may seem daunting to many buyers. At Socotra Capital, we understand that some residential buyers have unique needs that can’t be met with traditional financing. We’re happy to partner with clients who need hard money loans to purchase an REO, foreclosed home, property at auction, bank-owned property, property at short sale, fix-and-flip property or distressed property.
We also know that homeowners need money from time to time to finish remodeling and construction projects. We offer hard money bridge loans designed to cover the gap between your available cash and the financing needed to finish your remodel or build. If you’re stuck with a real estate project that isn’t all the way finished, we may be able to help you find financing.
Buyers who want to take advantage of the strong real estate market in Santa Barbara can utilize our buy-and-hold program, which offers extended terms on hard money loans. With buy-and-hold loans, investors purchase income-producing real properties with terms of two to 10 years on properties that qualify and go through appraisal successfully. We offer interest-only to full-amortization financing for residential properties.
Those buyers who want to remodel distressed residential properties in Santa Barbara and the surrounding areas in order to sell them for a profit can benefit from choosing our fix-and-flip loans. Our fix-and-flip program allows investors to borrow up to 75 percent of total project costs including the price of purchase and the cost of rehab. Fix-and-flip loans are far and away some of the most popular residential hard-money loans throughout Santa Barbara and California.
As your private, hard-money lender of choice, we are proud to offer flexible, hard money loans to investors, corporations, businesses and trusts in Santa Barbara and throughout California. We offer:
- Financing of up to 75 percent of project costs including rehab and purchase.
- Up to 65 percent loan-to-value ratios.
- Loans running from $30,000 to $5,000,000.
- No limits on the number of properties purchased by clients.
- Loans for private individuals, trusts and LLCs.
Equity-Based Private-Money Lending for Commercial Property
At Socotra Capital, we’ve been working with commercial property owners in the Sacramento area since 2007. We provide the best in hard money loans for the purchase of many different types of property. Since our opening, we’ve expanded our coverage to serve all of Santa Barbara. We are proud to help business owners who are struggling to meet commercial mortgage obligations to get their businesses back on track via specially tailored hard money loans.
We also provide hard money loans for the purchase of distressed commercial properties, which are generally closed with an all-cash offer. As Santa Barbara’s premiere hard-money experts, we can help you find financing for most of your non-conventional commercial property buying needs. We are proud to be considered the lender of choice for property owners who need to get cash out or refinance. As a locally owned and operated business, we’ve even helped fellow business owners buy their properties free and clear so that they can finance a child’s education, buy a retirement home or pay for a wedding.
We offer flexible parameters for private-money commercials loans in Santa Barbara including:
- Financing for the purchase of different types of property including retail buildings, apartment complexes with more than 6 units, offices, industrial spaces, restaurants, shopping centers, finished lots, automotive lots, mixed-use spaces, hotels, gas stations, agricultural land, ground-up construction and specialty properties including wineries, cold-storage facilities and places of worship.
- Loans ranging from $30,000 to $6,000,000.
- Flexible terms ranging from six months to 10 years with interest-only, partially amortized and fully amortized options available.
Is a Hard Money Loan Right for You?
Each investor is unique, and every hard money loan can be a vehicle to help investors achieve their business goals. Buyers from Santa Barbara choose to work with us for a variety of reasons. Whether our clients are individuals, estates or corporations, they work with us because we know how to provide the right funding for non-traditional real estate purchases. Situations in which we might be able to help you include:
- Purchasing residential property in Santa Barbara as an investment
- Purchasing an REO in Santa Barbara that doesn’t qualify for traditional financing or purchasing a home at short sale
- Financing the purchase and rehab of a Santa Barbara property
- Paying off a Santa Barbara mortgage to own a property free and clear
- Financing Santa Barbara replacement loans if you no longer meet the requirements of your SBA loan program
- Financing for properties in Santa Barbara that must be remodeled before they can be bought with FHA loans
- Financing for short-term cash needs
If you come up short on an offer or have made an all-cash offer, use our hard money. We’re as good as cash.
Flexible Real Estate Financing with Hard Money Loans
Real estate investors who want to take advantage of the great buying climate in Santa Barbara can use hard money loans to seize upon investment opportunities. For these investors, most offers are all cash or need to be closed too quickly to allow time to apply for traditional financing. If you’re currently weighing your purchasing options, it’s important to remember that a hard money loan can provide for an excellent return. We will work without you throughout the application and underwriting process to ensure that your loan truly meets your needs.
Occasionally, business owners in Santa Barbara and the surrounding cities who hold equity in their property but can’t take out traditional loans need to use hard money bridge loans or other private loans that can be tailored to their demands. At Socotora Capital, we’re proud to offer a wide variety of hard money solutions to clients throughout Santa Barbara. Whether you need to cover personal expenses or take care of a big COD, we’re here to help. As your equity-based private lender of choice, we make it easy to get the money you need right now.
At Socotra Capital, we’re proud to be more than just another Santa Barbara hard-money lender. We’re proud to be a financing partner for your project. It’s essential that everyone involved with your purchase walk away satisfied. We’ve put down roots in Sacramento and worked to grow our business so that we can provide the equity-based hard money loans that investors across California demand. We want you to know that we’re committed to your success, and we’ll never compete against you in a purchase. Hard-money lending is our only line of business.
Your Santa Barbara Hard-Money Lender of Choice
Buying investment property with hard-money financing is a serious decision that you should take time to consider. It’s also important that you work with a local, trustworthy lender. At Socotra Capital, we’re proud to be the first choice for Santa Barbara investors, corporations and trusts in need of hard-money financing. Keeping the best interests of our clients in mind is always our first priority. As your lender, we will work hard to ensure that you get the best financing and rate for your buying situation. Fill out one of our hard money loan applications today and we’ll process it for you within 10 business days.