Loading
Hard Money Loans in Selma
Selma's agricultural backbone creates unique fix-and-flip opportunities traditional lenders won't touch. Older housing stock near the downtown core and distressed properties from estate sales move fast when you have capital.
Hard money fills the gap between seeing a deal and closing it. In Fresno County markets like Selma, investors compete with cash buyers—hard money levels that playing field in 7-14 days instead of 45.
Your credit score barely matters. Lenders fund based on the property's after-repair value and your exit strategy—not your W-2 or tax returns.
Most deals require 20-30% down with rates between 9-14%. Lenders want to see your renovation budget, timeline, and how you're getting out of the loan in 6-18 months.
Central Valley hard money lenders know Selma's micro-markets better than Bay Area funds. Local lenders understand what a property on Floral Avenue is worth versus one near McCall—that matters when they're writing the check.
National lenders operate here too but often cap loans at 65% loan-to-value. Regional players push 75% LTV on strong deals because they can verify comps themselves instead of relying on desktop appraisals.
I send most Selma investor deals to three hard money shops that actually lend in secondary Fresno County markets. Big funds talk a good game but balk when they see city populations under 25,000.
The math needs to work at 12% interest and 3 points. If your flip can't absorb those costs and still net 15-20% profit, walk away. Selma's appreciation won't bail out a thin deal.
Bridge loans work if you're buying a rental to refinance into a DSCR loan after repairs. Hard money makes sense when you're flipping fast and exiting to a retail buyer in under 12 months.
Construction loans require licensed contractors and draw schedules. Hard money gives you a lump sum to renovate however you want—critical for smaller Selma projects where GCs are scarce.
Selma permit timelines run 4-8 weeks depending on scope. Factor that into your holding costs because you're paying 1% monthly interest while waiting for city approvals.
Your exit buyer pool matters. Properties above $350,000 sit longer here—most local buyers qualify for $200,000-$300,000 homes. Price your after-repair value accordingly or plan a rental exit.
Most lenders require 600+ but focus on property value and your experience. First-time flippers might need 620-640 to offset lack of track record.
Local lenders close in 7-10 days on clear title. National funds take 14-21 days but offer higher loan amounts for larger projects.
Yes, but loan-to-value drops to 60-65% on properties outside city limits. Lenders price in longer resale timelines for rural locations.
Expect 25-30% down on most deals. Experienced investors with strong track records sometimes get 20% down on straightforward renovations.
Only if you're renovating first then refinancing into a DSCR loan. Hard money rates make long-term rentals unprofitable—plan your exit before closing.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.