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San Marino's $3-5 million estate market moves faster than conventional loan timelines allow. Hard money fills the gap when you need to close in 7-14 days on a teardown or renovation project.
Most hard money deals here involve estate properties needing significant updates or lot value plays. Banks won't touch a 1960s home on a premium lot, but private lenders will fund 65-70% of as-is value.
Hard Money Loans in San Marino
Hard money lenders care about the property, not your tax returns. They'll fund if the asset value supports the loan and your exit strategy makes sense.
Expect 9-14% rates with 2-4 points upfront. Your credit score matters less than your equity position and renovation budget. Most lenders want 30-35% skin in the game on San Marino properties.
Local decision guide
Use this guide to connect hard money loans eligibility, lender expectations, and local market factors before comparing payment options in San Marino.
San Marino's $3-5 million estate market moves faster than conventional loan timelines allow. Hard money fills the gap when you need to close in 7-14 days on a teardown or renovation project.
Most hard money deals here involve estate properties needing significant updates or lot value plays. Banks won't touch a 1960s home on a premium lot, but private lenders will fund 65-70% of as-is value.
Hard money lenders care about the property, not your tax returns. They'll fund if the asset value supports the loan and your exit strategy makes sense.
We work with 30+ hard money lenders who fund in San Marino. Some specialize in high-value estates, others prefer smaller rehab projects. Terms vary wildly based on property condition and your track record.
Local lenders move fastest because they know San Marino values. Out-of-state funds offer lower rates but want more documentation. We shop both to find your best fit.
San Marino hard money works best for experienced investors with clear renovation plans. First-time flippers struggle here because margins are tight and lenders want to see a track record on million-dollar projects.
The smartest move is lining up your takeout financing before you close. Get a DSCR loan pre-approval so you can refinance out of hard money in 6-9 months instead of scrambling to sell.
Bridge loans cost less but require better credit and more documentation. Hard money trades higher costs for speed and flexibility. For San Marino estates needing major work, hard money is often the only option.
Once renovations finish, refinance into a DSCR loan at 7-9% to hold as a rental, or sell at market value. Hard money is the entry point, not the long-term solution.
San Marino's strict building codes and slow permit process add time to renovation projects. Budget an extra 60-90 days beyond what you'd expect in other cities. Hard money terms need to account for this.
Most lenders here understand San Marino's permitting timeline and offer 12-month terms instead of 6. Make sure your lender has local experience or you'll pay extension fees when your flip runs long.
Most closings happen in 7-14 days once you have an accepted offer. Some lenders can fund in 5 days if the property is straightforward and you have all documents ready.
Expect to put down 30-35% on properties in this price range. Lenders cap LTV at 65-70% because high-value estates carry more risk than typical flip properties.
Hard money is designed for investment properties and renovation projects. If you're buying a primary residence, conventional or jumbo loans will cost far less.
Most lenders charge 1-2% of the loan balance for each extension period. This is why getting a 12-month term upfront is crucial in San Marino.
They'll pull your credit, but a 580-620 score won't kill your deal if the property and exit strategy are solid. Asset value matters more than credit history.