Question 1

How quickly can hard money loans close in Brentwood?

Accepted Answer

Most hard money loans close within 5-10 business days once property appraisal completes. Some lenders fund in as few as 3 days for straightforward transactions with experienced borrowers.

Question 2

What credit score do I need for hard money financing?

Accepted Answer

Credit scores matter less than property value and exit strategy. Many lenders approve borrowers with scores below 600 if the property shows strong profit potential and reasonable loan-to-value ratios.

Question 3

Can I use hard money for my first investment property?

Accepted Answer

Yes, first-time investors regularly use hard money loans. Lenders focus on property value and renovation plans rather than investor experience, though rates may be slightly higher for newer borrowers.

Question 4

What happens if my renovation takes longer than expected?

Accepted Answer

Most hard money loans include extension options for additional fees, typically 1-2 points per extension period. Plan for contingencies upfront to avoid costly delays that reduce profit margins.

Question 5

Are hard money loan interest payments tax deductible?

Accepted Answer

Interest on investment property loans typically qualifies as a business expense. Consult your tax advisor about specific deductibility based on your investment structure and tax situation.

Hard Money Loans in Brentwood: Fast Financing for Real Estate Investors and Fix-and-Flip Projects