Are you in need of a hard money loan in California? Understanding the relevance of hard money loans and their benefits is crucial. In this article, we will explore the protection provided by Proposition 13 and the importance of homeownership in California. We will also discuss the misconceptions about hard money loans, compare them to traditional mortgages, and demonstrate how Evoque Lending can assist you in achieving your real estate goals.

The Protection of Proposition 13: A Hidden Bonus

Proposition 13, passed by California voters in 1978, provides homeowners with essential protection against rapidly rising property taxes. It limits annual increases, regardless of property value surges. This protection has made homeownership crucial in our state, ensuring homeowners can afford their tax bills and preventing them from being forced to sell their homes.

The Benefits for Homeowners

Homeownership offers numerous advantages, including the financial protection granted by Proposition 13. However, if you don’t own a home, you miss out on this crucial protection. It’s essential to act quickly to enter the housing market before prices rise further, locking in a low starting point for your property tax bill.

Comparing Hard Money Loans to Mortgages

While traditional mortgages are commonly used for home purchases, hard money loans serve a different purpose. Hard money loans are often sought by real estate investors or individuals who require quick financing or have credit challenges. Unlike mortgages that are based on creditworthiness and income verification, hard money loans focus more on the value of the property being used as collateral. They provide a faster and more flexible financing option, enabling borrowers to seize real estate opportunities that may not be possible with traditional mortgages.

Misconceptions About Hard Money Loans

If you’ve faced challenges getting approved for a loan to purchase your first home or investment property, don’t lose hope. Evoque Lending specializes in assisting borrowers who may have been turned down by traditional banks due to credit score issues. Unlike banks, Evoque Lending focuses on two crucial factors: the property’s value and the borrower’s ability to make payments.

Evoque Lending: Your Hard Money Loan Solution

With over 15 years of experience, Evoque Lending is the expert in hard money loans for Orange County, Los Angeles, and San Francisco real estate. We prioritize world-class customer service and provide quick responses, usually within a day, with loan funding in just seven to ten days.

Unlock Your Real Estate Potential with Evoque Lending

Ready to explore hard money loan options for your real estate endeavors? Contact us today by phone or email, sharing an overview of your situation. Let Evoque Lending be your trusted partner in achieving your real estate goals.


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