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Larkspur's mix of vintage homes and redevelopment opportunities creates steady demand for hard money financing. Investors target fixer properties in central neighborhoods and tear-down candidates on larger lots.
Speed matters in Marin's competitive investment market. Hard money closes in 7-14 days versus 30-45 for conventional financing, often the difference between winning and losing a deal.
Most Larkspur hard money deals fund rehabs on 1960s-1980s single-family homes or conversion projects in commercial districts. The loans bridge investors from acquisition through renovation to permanent financing.
Hard Money Loans in Larkspur
Lenders approve based on the property's after-repair value, not your W-2 or tax returns. They fund 65-75% of purchase price or 75-80% of current value, whichever is lower.
Credit scores below 600 qualify if the deal works. Lenders care more about your exit strategy and renovation budget than payment history.
You need 25-35% cash or equity to close. Points run 2-4% upfront plus interest rates of 9-13%, depending on loan-to-value and project complexity.
Local decision guide
Use this guide to connect hard money loans eligibility, lender expectations, and local market factors before comparing payment options in Larkspur.
Larkspur's mix of vintage homes and redevelopment opportunities creates steady demand for hard money financing. Investors target fixer properties in central neighborhoods and tear-down candidates on larger lots.
Speed matters in Marin's competitive investment market. Hard money closes in 7-14 days versus 30-45 for conventional financing, often the difference between winning and losing a deal.
Most Larkspur hard money deals fund rehabs on 1960s-1980s single-family homes or conversion projects in commercial districts. The loans bridge investors from acquisition through renovation to permanent financing.
We work with 40+ hard money lenders who fund Marin County projects. Each has different property type preferences, loan size limits, and rate structures.
Local portfolio lenders often beat national hard money shops on rate but fund slower. National lenders close faster but charge higher points on Larkspur deals under $750K.
The right lender depends on your timeline and project scope. Cosmetic rehabs get better pricing than structural overhauls requiring permits and inspections.
Larkspur investors mess up by underestimating renovation costs and permit timelines. Build 20% margin into your budget and timeline before committing to hard money terms.
Your exit strategy determines whether hard money makes sense. Plan to refinance into DSCR financing or sell within 12 months to avoid costly extensions.
I've seen borrowers lose $30K in extra interest because they didn't lock a takeout lender before starting rehab. Line up permanent financing the day you close on hard money.
Bridge loans work better for borrowers who need 6+ months but have provable income. Hard money beats bridge loans when credit or income disqualifies you from traditional programs.
DSCR loans cost less long-term but require completed properties generating rent. Use hard money to buy and renovate, then refinance into DSCR for permanent cash flow.
Construction loans from banks require perfect credit and two years of contractor experience. Hard money funds first-time flippers and borrowers with recent credit events.
Larkspur's design review board slows projects in historic districts. Factor 60-90 days for permit approval when calculating your hard money hold period.
Marin County's strict building codes increase renovation costs 15-25% versus Contra Costa. Lenders adjust loan-to-value ratios based on your contractor's local permit history.
Properties near downtown Larkspur or Greenbrae retail corridors get better loan terms. Lenders view these areas as lower risk for resale or refinance.
Most lenders close in 7-14 days with clean title and appraisal. Cash offers with proof of hard money pre-approval compete effectively against all-cash buyers.
Lenders approve scores as low as 550 if the deal pencils. Your after-repair value and exit strategy matter more than credit history.
Hard money funds investment properties only. You cannot occupy during renovation, but can sell or convert to rental after completion.
Extensions cost 1-2 points plus ongoing interest. Most lenders grant 3-6 month extensions but prefer you refinance into permanent financing instead.
Many lenders fund 100% of renovation through draw schedules tied to completion milestones. Others provide lump sum at close requiring you to fund rehab separately.