How much can I borrow on a hard money 2nd in Orange County?

Usually up to 60% combined loan-to-value. On a $1,200,000 house with a $500,000 first mortgage, the maximum 2nd is about $220,000 ($1,200,000 × 60% = $720,000, minus $500,000). Higher is possible by exception.

Does the first mortgage have to be paid off?

No. The 2nd trust deed records behind the existing first. The first must be current and not in forbearance.

What does the loan have to be used for?

A business purpose: funding a business, buying or improving investment property, paying business debt or taxes. Personal-use loans on a primary residence are handled as consumer mortgages instead.

Hard money 2nd trust deed in Orange County, CA

MyBridge Loans funds private money second trust deeds in Orange County and Los Angeles usually up to 60% combined loan-to-value, behind an existing first mortgage that stays in place. Business purpose only. Same-day answer on any scenario. Typical funding in two weeks.

We fund 2nd trust deeds throughout Orange County, including Irvine, Newport Beach, Huntington Beach, Costa Mesa, Anaheim, Santa Ana, Fullerton, Orange, Mission Viejo, Laguna Beach, Laguna Niguel, San Clemente, Fountain Valley, Garden Grove, and Tustin, and across Los Angeles County. Second trust deeds are available in all of our states except Texas and Nevada.

Our most used hard money product

Owner-occupied hard money 2nd TD, stated business purpose loan. No minimum FICO. No equity sharing. No seasoning. Stated income, no income docs, no bank statements. Owner-occupied and non-owner-occupied both fine. Recent derogatories and credit events fine. Up to 60% CLTV on a 2nd, 65% LTV on a 1st.

Example: the borrower is self-employed, cannot document enough traditional income to qualify for a conventional HELOC, has a 580 FICO or worse with an older completed credit event, and does not want to refinance the low-rate first. That is the file we fund.

The easy rule: if the borrower has equity, the ability to repay, and a legitimate business purpose, but income documentation, FICO, a prior credit event, or the existing low-rate 1st is keeping the deal from closing, send it to us.

How the numbers work

Take the as-is value, multiply by 60%, subtract the first mortgage balance. That is the usual maximum second; higher is possible by exception. Example: $1,200,000 value × 60% = $720,000. First mortgage of $500,000. Maximum 2nd trust deed: $220,000. Need more? Cross a second property and the combined loan can go higher.

What we need to say yes

The first mortgage is current, with no lates in the last 12 months and no forbearance.
The use of funds is a business purpose: a business, an investment property, business debt, or taxes tied to a business or investment.
A clear exit: sale, refinance, or a business event that pays the loan off.
Clean title. Tax liens and judgments can usually be paid through escrow.

What does not matter much

FICO, income documentation, and self-employment. There is no minimum score, no income verification, and no seasoning. The loan is priced on the position and the equity. A higher score prices better, but a lower score with strong equity and a clean first-mortgage history still funds. Foreign nationals and ITIN borrowers qualify with a tax ID or entity EIN and a U.S. bank account, at about 5% less leverage.

Rates and cost

Second trust deeds run 11.99% to 12.99% and up, interest-only, usually 1.5 to 2 lender points plus broker, on a 3-year note with a 3 to 6 month prepayment penalty. Loans from $100,000 to $4,000,000 and up, $4,000 minimum origination. Exceptions available. There is one broker fee in the deal because we fund through our own investors.

Fees: underwriting $1,995. No processing fee. No doc prep fee in California. Appraisal by a third-party appraiser, commonly around $700. Up to 30 days of prepaid interest at closing. Credit report, title, escrow, and flood at whatever those third parties charge.

Common uses

Down payment on an investment property or a business acquisition.
Paying an IRS or FTB lien so a sale or refinance can close.
Buying out a partner, sibling, or ex-spouse's interest in a rental.
Working capital against a rental or commercial building with a low-rate first you don't want to lose.

Funded examples

Recent second trust deeds we funded. City and state only, no borrower information. Several closed above 60% CLTV by exception.

Newport Coast, CA. $1,400,000 2nd trust deed on a single-family residence at 65.73% CLTV, 12.5%, 12-month note, cash-out refinance, 764 FICO.
Laguna Beach, CA. $690,500 2nd trust deed on a single-family residence at 65% CLTV, 12-month note, refinance, 722 FICO.
Coto de Caza, CA. $198,900 2nd trust deed on a condo at 65% CLTV, 12-month note, refinance, 665 FICO.
Costa Mesa, CA. $500,000 2nd trust deed at 62% CLTV.
Irvine, CA. $380,000 2nd trust deed on an owner-occupied home, business purpose.

How to get a quote

Send the address, value, first mortgage balance, loan amount, FICO, occupancy, use of funds, and exit to the scenario form, or call 949-463-9898. You get a yes, no, or what's missing the same day.

Business-purpose loans secured by real estate. Terms depend on the property, the borrower, and the exit.