Question 1

How fast can a hard money loan close in Amador City?

Accepted Answer

Most hard money deals close in 7 to 14 days. Speed depends on appraisal turnaround and how quickly you deliver the rehab budget.

Question 2

Do I need good credit for a hard money loan?

Accepted Answer

Credit score matters less here than the deal itself. Lenders focus on property value and your exit plan, not your credit history.

Question 3

What's a typical hard money loan term?

Accepted Answer

Most run 6 to 24 months. These are short-term loans — you're expected to sell or refinance before the term ends.

Question 4

Can I use hard money to buy and renovate in Amador City?

Accepted Answer

Yes. Acquisition plus rehab is the most common hard money use case. Some lenders will fund both the purchase and the construction draws.

Question 5

What happens if my flip takes longer than the loan term?

Accepted Answer

You can often request an extension, but it costs money. Build buffer into your timeline from day one to avoid extension fees.

Question 6

Are hard money rates higher than conventional loans?

Accepted Answer

Yes, significantly. Hard money rates reflect the short term and higher risk. Rates vary by borrower profile and market conditions.

Hard Money Loans in Amador City, CA