Socotra Capital has been providing hard money loans to real estate investors throughout California since 2007. Their rates and fees vary per project. They can lend up to $6,000,000, and they can close loans in 5-15 days. They have an A+ BBB rating and generally positive reviews in Google, Yelp, Facebook, and FreeandClear.
|Business Name||Socotra Capital|
|Business Address||2208 29th St, Ste 100, Sacramento, California 95817|
|Business Established Year||2007|
Socotra Capital Rates & Terms
|Types of Properties||Apartment complexes (6+ units)|
|Loan Amount||$30,000 – $6,000,000|
|LTV||Varies per project and borrower|
|ARV||Varies per project and borrower|
|Interest Rates||Varies per project and borrower|
|Lender Fees||Appraisal fee|
Credit report fee
Underwriting fee (may range from $750-$2,500)
Documentation preparation fee
|Loan Terms||6 months - 10 years|
|Minimum Qualifications||No qualifications indicated|
|Typical Time to Funding||5-15 days|
|Other Financing Available||Fix and Flip Loans|
REO Short Sale Transactions
Residential Rehab Loans
Commercial Rehab Loans
Ground Up Construction Loan
*Exceptions may be granted. Lender information is updated often, however exact lender terms may have changed.
Popular Hard Money Lenders 2019
Investors who want competitive rates and fast funding for residential fix and flips
Landlords wanting to refinance or grow their rental portfolio
Short-term investors looking for a good residential fix-and-flip hard money loan option
Investors who want great customer service with a local bank feel from a 44-state lender
Fix and flippers who want an alternative to LendingHome, but with a commercial component
Which Hard Money Lender is Right for You?
States Currently Lending In
California and Nevada; offers SBA loans to all 50 states.