Question 1

How fast can a hard money loan close in Placerville?

Accepted Answer

Most hard money deals close in 7-14 days. Title and appraisal are the usual bottlenecks in El Dorado County.

Question 2

Do I need good credit for a hard money loan?

Accepted Answer

Credit matters less than the deal. Lenders focus on collateral value and your exit plan, not your credit score.

Question 3

What properties qualify for hard money in El Dorado County?

Accepted Answer

Fix-and-flip homes, rural parcels, and distressed properties all qualify. Lender appetite varies by property type.

Question 4

What is the typical loan term for hard money?

Accepted Answer

Most hard money loans run 12 months. Some lenders offer 18-24 months for larger rehab projects.

Question 5

Can I use hard money to buy land in Placerville?

Accepted Answer

Some lenders will fund raw land in El Dorado County. Expect lower LTV and higher rates than residential deals.

Question 6

What happens if I can't repay in time?

Accepted Answer

Extensions are possible but expensive. Have a clear exit strategy before you close — sell or refi, not hope.

Hard Money Loans in Placerville, CA