Question 1

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

Accepted Answer

Most lenders fund in 7-14 days once you have a purchase contract. Some close in 5 days for experienced investors with strong deals.

Question 2

What credit score do I need for hard money?

Accepted Answer

No strict minimum exists since approval depends on the property's value. We've closed deals with scores in the 550-600 range regularly.

Question 3

Can I use hard money for a primary residence renovation?

Accepted Answer

No. Hard money lenders only fund investment properties and business purpose loans. You'd need a renovation loan like FHA 203k or HomeStyle for owner-occupied homes.

Question 4

What's the typical loan term for Martinez fix-and-flips?

Accepted Answer

Most hard money loans run 6-12 months with options to extend. Plan your renovation timeline carefully since extensions add fees and costs.

Question 5

Do I need real estate investing experience?

Accepted Answer

First-time flippers qualify but expect higher rates and lower LTV. Lenders want to see a solid contractor, realistic budget, and adequate reserves.

Hard Money Loans in Martinez: Fast Funding for Fix-and-Flip Investors