Question 1

How fast can a hard money loan close in Chowchilla?

Accepted Answer

Most hard money deals close in 7-14 days. Rural markets may add a day or two for appraisal scheduling.

Question 2

Do I need good credit for a hard money loan?

Accepted Answer

Credit matters less than the deal itself. Below 600 may affect your rate, but it won't automatically disqualify you.

Question 3

What's a typical loan term for hard money in CA?

Accepted Answer

Most terms run 6-24 months. These are short-term loans — you flip or refinance before the term ends.

Question 4

Can I use hard money to buy rural or agricultural land?

Accepted Answer

Some lenders will fund rural residential. Pure agricultural land is harder — fewer lenders play in that space.

Question 5

What's the maximum LTV on a hard money loan?

Accepted Answer

Most lenders cap at 65-70% of ARV. Bring equity to the table or the deal won't get funded.

Question 6

What happens if my rehab runs over budget?

Accepted Answer

You're on the hook for cost overruns. Hard money lenders won't increase your loan mid-project without a formal draw review.

Hard Money Loans in Chowchilla, CA