Union Home Loans

About Union Home Loans

Union Home Loans is a Calabasas, CA based private lender offering funding throughout California. They offer hard money loans for commercial properties, buy and hold loans, short term fix and flip loans, and hard money refinancing. They issue terms between 6 months and 7 years and loan amounts ranging from $20,000 to $3,000,000 with a maximum LTV of 65%. They do not require their borrowers to have a minimum credit score to obtain a loan. They will make loans on all the following types of properties: single family homes, multi family, apartments, offices, retail units, hotels/motels, storage facilities, senior housing facilities, mixed use spaces, undeveloped land, churches, warehouses, and industrial buildings.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Land, Church, Warehouse, Industrial

Areas Served: CA

Lending Guidelines for Union Home Loans

Below are the general loan guidelines published on the Union Home Loans website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Union Home Loans.

Loan Example 1

Erik finds a property in Los Angeles, CA to rehab and sell. Since he does not have enough cash available to buy the $340,000 property outright, he decides to take out a fix and flip loan from Union Home Loans. The lender agrees to make a loan with a 60% loan-to-value (LTV) so they are willing to loan $204,000 on the house. The deal also consists of these features: 1) a 18 month length, 2) a 14% interest only note, and 3) a one point origination fee.

Erik will have to bring $136,000 at the closing (40% on the 60% LTV), plus he will have to pay the $2,040 origination fee. Once the deal is closed and Erik takes on the project, he will have to begin making payments each month of $2,380 to Union Home Loans ($204,000 principle x 14% / 12 months). If Erik sells the property for $408,000 after 18 months, he would realize a total profit of $23,120 after deducting the original principle of $204,000, the cash paid at closing of $136,000, the origination fee of $2,040, and the total interest payments of $42,840. This gross profit does not include rehab costs.

Loan Example 2

Union Home Loans makes a fix and flip loan to Mark for a remodeling project in Los Angeles, CA. The deal includes the following:

a) A $300,000 sales price, b) a 75% loan to value (LTV), c) a 12 month term, d) a 12% interest rate, and e) a 3% origination fee.

If Mark achieves his goal of a $435,000 sales price, the final numbers of the project will be the following:

$435,000 sales price
- $225,000 principle (75% LTV)
- $75,000 down payment (25% on 75% LTV)
- $6,750 origination fee (3% of the $225,000 principle amount)
- $27,000 interest payments (12 months x 12% interest)
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= $101,250 total profit (doesn't include taxes or rehab costs)

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