Question 1

How fast can I close on a Concord fix-and-flip property?

Accepted Answer

We close hard money deals in 5-10 days with complete documentation. Rush closings in 3-5 days cost extra points but happen regularly for competitive situations.

Question 2

What down payment do I need for hard money in Concord?

Accepted Answer

Expect to bring 25-35% of the purchase price. Lenders cap loans at 65-75% of after-repair value, so your down payment covers the gap plus closing costs.

Question 3

Can I use hard money if I have bad credit?

Accepted Answer

Yes. Hard money approval focuses on property value and equity, not credit scores. Expect higher rates below 600 FICO, but deals still close regularly.

Question 4

What interest rate should I expect on a Concord hard money loan?

Accepted Answer

Rates vary by borrower profile and market conditions but typically run 8-14%. Lower loan-to-value ratios and strong exit strategies earn better pricing.

Question 5

Do hard money lenders fund full rehab budgets?

Accepted Answer

Most lenders hold back rehab funds and release them in draws as work completes. Total financing usually covers 65-75% of ARV, including purchase and renovation costs.

Question 6

What's my exit strategy after the hard money term ends?

Accepted Answer

You either sell the rehabbed property or refinance into a DSCR or conventional loan. Plan your exit 30-60 days before term expiration to avoid extension fees.

Hard Money Loans in Concord: Fast Funding for Fix-and-Flip and Investment Properties