Question 1

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

Accepted Answer

Most lenders close in 7-10 business days once appraisal completes. Rural appraisers may need extra time to find comps, adding 3-5 days to the process.

Question 2

What down payment do Firebaugh hard money lenders require?

Accepted Answer

Expect 20-30% down based on purchase price. Lenders may increase this to 35% on properties over $500K due to limited resale market.

Question 3

Can I use hard money for agricultural property in Firebaugh?

Accepted Answer

Yes, but lenders scrutinize water rights and zoning closely. Ag properties require specialized lenders familiar with Central Valley farming operations.

Question 4

What rates should I expect on Firebaugh hard money loans?

Accepted Answer

Rates typically run 9-14% with 2-3 points at closing. Rural properties often price at the higher end due to longer exit timelines. Rates vary by borrower profile and market conditions.

Question 5

Do I need renovation experience for hard money approval?

Accepted Answer

Experienced investors get better terms. First-time flippers often need contractor agreements in place before approval and may face higher rates.

Hard Money Loans in Firebaugh: Fast Funding for Fresno County Investment Properties