Hard money is short-term, asset-based financing secured by the Santa Monica property — funded in days, based on equity not income. Typical: ~9.5–15% rate, 1.5–4 points, 65–75% LTV, 6–24 months. Here it's mostly used to compete with cash and bridge a move-up, then refinance. Full program details.
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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 trade-off is a higher rate and points — acceptable because it's a short-term tool: use the speed to win, then refinance into a jumbo, conventional, or DSCR loan.
When Santa Monica buyers use it
✓ Great for
- Competing with all-cash offers
- Bridge: buy before your home sells
- Luxury renovation / value-add
- Fast, non-contingent closings
✗ Not ideal for
- Long-term hold with no exit plan
- Buyers with time for standard financing
- Lowest-possible-rate seekers
- Deals with thin equity
Typical terms (2026)
| Feature | Typical |
|---|---|
| Basis | Property & equity — not income |
| Rate | ~9.5–15% |
| Points | ~1.5–4 |
| LTV | ~65–75% |
| Term | ~6–24 months |
| Speed | Days to ~2 weeks |
Terms vary by lender, deal & equity; illustrative for 2026, not an offer.
Hard money FAQs
What is it?
Short-term, asset-based financing secured by the property.
Helps me beat cash offers?
Yes — funds in days for a fast, low-contingency offer; refinance after.
Typical terms?
~9.5–15% rate, 1.5–4 pts, 65–75% LTV, 6–24 mo. Illustrative.
Bridge to buy before selling?
Yes — use current equity, repay when your home sells.
Offer it in Santa Monica?
Yes — with a jumbo/conventional/DSCR exit lined up.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766), serving Santa Monica from its Marina del Rey office.