Question 1

What credit score do I need for a hard money loan in San Pablo?

Accepted Answer

Most hard money lenders accept FICO scores as low as 580, and some go lower if the property equity is strong. Credit score is not the primary factor — the property's value and your exit plan matter more.

Question 2

How fast can I close a hard money loan in San Pablo?

Accepted Answer

Hard money closings typically happen in 7 to 14 days. Underwriting takes 3 to 5 days, appraisal 2 to 3 days, and closing another 2 to 3 days. Conventional loans take 30 to 45 days.

Question 3

How much down payment do I need for hard money?

Accepted Answer

Hard money lenders require 25% to 40% down, depending on the property condition and your exit strategy. Fix-and-flip projects with clear rehab plans may qualify at 25%. Bridge loans or distressed properties may require 35% to 40%.

Question 4

What's the typical interest rate on a hard money loan?

Accepted Answer

Hard money rates in California range from 8% to 15% APR, plus 2 to 4 points upfront. The exact rate depends on loan-to-value, property condition, and how long you plan to hold the loan.

Question 5

Can I use hard money to buy a primary residence in San Pablo?

Accepted Answer

Hard money is designed for investors and borrowers with credit damage, not primary residence buyers. If you have stable income and a 620+ credit score, conventional financing costs half as much and offers 30-year terms.

Hard Money Loans in San Pablo: Fast Funding for Non-Traditional Buyers