Question 1

What credit score do I need for hard money in Long Beach?

Accepted Answer

Most lenders approve with scores as low as 580-600. They care more about the property's value and your down payment than your credit history.

Question 2

How fast can I close on a Long Beach flip property?

Accepted Answer

Typical closing is 7-14 days with all documents ready. Some lenders fund in 5 days for simple deals with strong equity positions.

Question 3

Can I use hard money for a multi-unit building in Long Beach?

Accepted Answer

Yes, hard money works well for 2-4 unit properties. Some lenders fund small apartment buildings if the numbers support the after-repair value.

Question 4

What's the maximum loan-to-value on Long Beach hard money?

Accepted Answer

Most lenders go up to 70-75% of after-repair value. Your down payment plus rehab costs should cover the remaining 25-30%.

Question 5

Do hard money lenders fund rehab costs in Long Beach?

Accepted Answer

Yes, most include rehab budgets in the loan. Funds release on a draw schedule as contractors complete work and pass inspections.

Question 6

What happens if my Long Beach flip takes longer than expected?

Accepted Answer

Lenders charge extension fees of 1-2 points for additional months. Some require full payoff and reapplication after the initial term expires.

Hard Money Loans in Long Beach: Fast Capital for Fix-and-Flip Investors