Hard money is short-term, asset-based financing secured by the Pasadena property — funded in days, based on equity not income. Typical: ~9.5–15% rate, 1.5–4 points, 65–75% LTV, 6–24 months. Ideal for buying/renovating older homes that won't pass a conventional appraisal, then refinancing. Full program details.
How hard money works
A hard money lender cares first about the property and its equity, not your tax returns. Because approval skips lengthy income underwriting, funds can arrive in days. The higher rate and points are the cost of speed — fine, because it's a short-term tool: use it to acquire and improve, then refinance into a conventional or DSCR loan, or sell.
The Pasadena use case: older homes that won't pass as-is
Typical terms (2026)
| Feature | Typical |
|---|---|
| Basis | Property & equity — not income; as-is OK |
| Rate | ~9.5–15% |
| Points | ~1.5–4 |
| LTV | ~65–75% |
| Term | ~6–24 months |
| Exit | Refi to conventional/DSCR, or sell |
Terms vary by lender, deal & equity; illustrative for 2026, not an offer. Confirm historic designation/permits independently.
Hard money FAQs
What is it?
Short-term, asset-based financing secured by the property.
Why for an older home?
Funds an as-is buy a conventional lender won't; renovate then refinance.
Historic districts?
Confirm designation, Mills Act, and permits before renovating.
Typical terms?
~9.5–15% rate, 1.5–4 pts, 65–75% LTV, 6–24 mo. Illustrative.
Offer it in Pasadena?
Yes — with a conventional or DSCR refinance exit.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766), serving Pasadena from its Marina del Rey office. Confirm historic designation, Mills Act status, and permits independently.