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Hard Money Loans in Corcoran
Corcoran sits in Kings County's agricultural heartland, where property values track farming economics more than coastal trends. Hard money works here for investors flipping dated homes or converting ag buildings.
Most deals involve older housing stock needing substantial rehab before conventional financing makes sense. Speed matters when you're competing with cash buyers from Fresno or Hanford.
Lenders care about the property, not your W-2. They'll fund 65-75% of after-repair value, sometimes higher if the deal is strong. Credit scores as low as 580 get approved if equity supports the loan.
You need a clear exit strategy—refinance timeline or resale plan. Most lenders want 12-18 month payoff schedules. Personal income doesn't matter; the property's potential does.
Central Valley lenders understand ag-adjacent markets better than coastal hard money shops. They price Kings County differently than Kern or Tulare based on actual sales velocity.
Expect rates between 9-14% with 2-4 points upfront. Terms run 6-24 months. Rural properties take longer to underwrite because fewer comps exist.
Corcoran deals often involve properties that sat vacant or need foundation work. Lenders want detailed rehab budgets with contractor bids, not guesswork. The investors who close fastest bring licensed GC estimates and material breakdowns.
Watch for properties near state prison operations—they affect resale timelines differently than typical residential comps suggest. Plan your exit around actual buyer demand, not just ARV calculations.
Bridge loans cost less but require better credit and more documentation. DSCR loans work for rentals but won't fund heavy construction. Hard money closes in 7-14 days when you need to move fast.
Construction loans from banks take 45+ days and want your tax returns. Hard money ignores your income and funds based on the deal itself.
Kings County permit processes move slower than metro areas. Budget extra time for inspections and approvals. Small-town building departments mean fewer staff handling your timeline.
Resale markets depend on agricultural employment cycles. Harvest seasons and crop prices affect when buyers have cash. Time your exit accordingly or plan to hold through DSCR refinance.
Most deals close in 7-14 days once title work clears. Rural properties sometimes add 3-5 days for appraisals since fewer comps exist.
Lenders typically require 25-35% down based on purchase price or current value. Strong deals with clear exit plans sometimes get 75% LTV.
Hard money works for acquisition, but switch to DSCR loans once rehab finishes. Rental cash flow doesn't justify hard money rates long-term.
They fund distressed properties others won't touch. You need viable ARV and a realistic rehab plan with contractor support.
Most lenders offer 6-12 month extensions at higher rates. Default means foreclosure since the property secures the loan.
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.