Question 1

How fast can hard money close in Orland?

Accepted Answer

Hard money typically closes in 5–10 business days. Conventional loans take 30–45 days. The speed comes from property-based underwriting instead of income verification. Your lender appraises the property and funds based on equity and ARV.

Question 2

What credit score do I need for hard money?

Accepted Answer

Hard money lenders don't rely on credit scores. They focus on the property's value and your down payment or equity. Borrowers with 500 FICO or no credit history can qualify if the deal's math works and you have funds to close.

Question 3

What's the typical interest rate for hard money in Glenn County?

Accepted Answer

Hard money rates in California run 8–15%, depending on LTV, property condition, and lender risk. Orland's rural location and smaller deal sizes mean fewer lenders compete, so rates vary. Expect to pay points and origination fees on top of the rate.

Question 4

Can I use hard money to buy a primary residence?

Accepted Answer

Yes, but it's not typical. Hard money works for owner-occupants buying fixer-uppers or bridging between sales when conventional loans won't work. The higher rate and short term make it expensive for long-term owner-occupied mortgages.

Question 5

What do lenders mean by 'exit strategy' on a hard money loan?

Accepted Answer

Exit strategy is your plan to repay the loan—refinance to conventional, sell the property, or use cash reserves. Lenders want proof you can pay back the short-term loan.

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