Wilshire Finance Partners

About Wilshire Finance Partners

Wilshire Finance Partners is a direct portfolio lender funding bridge loans up to $10MM secured by multifamily (5+ units) and commercial real estate nationwide. They are also lending against non-owner occupied (business purpose) single family and 2 to 4 unit properties in California up to $2MM.They will make loans on many types of properties, including single family homes, multi family residences, apartments, storage facilities, senior housing communities, mixed use buildings, warehouse spaces, industrial facilities, and medical facilities.

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

Property Types Covered: Single Family, Multi Family, Apartment, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical

Areas Served: National

Licenses: CFL #603K729, CUSIP #93099B102, CA DRE #01523207

Lending Guidelines for Wilshire Finance Partners

Below are the general loan guidelines published on the Wilshire Finance Partners 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 Wilshire Finance Partners.

Loan Example 1

Rebekah takes a hard money loan from Wilshire Finance Partners in order to renovate a townhome to resale in Los Angeles, CA. The sales price of the house is $230,000. Because the lender agrees to a 70% loan-to-value, Rebekah will need to put 30% down and the amount of the loan will be $161,000. The interest rate on the loan is 9% for a length of 6 months and the company requires a five point origination fee at the close. The interest is to be paid on a monthly basis and the principle will be repaid after the sale of the property.

According to the terms of the deal, Rebekah will have to pay a $8,050 origination fee in addition to 30% of the sales price, or $69,000, based on the 70% LTV. she will then pay $1,208 per month to Wilshire Finance Partners. Rebekah's intention is to finish the house by the end of the 6 months and sell it for $299,000. If she succeeds she will make a profit of $53,705 ($299,000 price - $161,000 principle - $69,000 cash at closing - $8,050 origination points - $7,245 in total interest.

Loan Example 2

Jesse finds a duplex in Los Angeles, CA to rehab and re-sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from Wilshire Finance Partners with the following parameters:

a) A $250,000 purchase price, b) a 75% loan to value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 1% origination fee.

Jesse intends to list the project at the end of the term for $375,000. If he achieves this goal, the deal numbers would be as follows:

$375,000 sales price
- $187,500 loan principle (75% LTV)
- $62,500 cash paid at closing (25% on 75% LTV)
- $1,875 origination points (1% of the $187,500 principle)
- $8,438 interest payments (6 months x 9% interest)
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= $114,688 gross profit (doesn't include taxes or renovation costs)

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