Question 1

How fast can I close a hard money loan in Alameda?

Accepted Answer

Most deals close in 7-14 days once you have a property under contract. We've closed investor purchases in 5 days when the seller needed fast execution.

Question 2

What credit score do I need for hard money financing?

Accepted Answer

No minimum score exists — we've approved borrowers below 550. Lenders care more about your equity stake and exit strategy than your credit history.

Question 3

Can I use hard money to buy and renovate a property simultaneously?

Accepted Answer

Yes, that's the primary use case. The loan covers purchase price plus renovation costs, funding in stages as work completes.

Question 4

What's the typical interest rate for hard money in Alameda?

Accepted Answer

Expect 8-14% depending on experience level and deal strength. First-time investors pay closer to 12-14%, experienced flippers get 8-10%.

Question 5

Do I need a down payment for a hard money loan?

Accepted Answer

Yes, most lenders require 25-35% down based on purchase price. Strong deals with low after-repair LTV sometimes get 80-85% financing.

Hard Money Loans in Alameda: Fast Funding for Investors and Rehab Projects