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King City sits in Monterey County's agricultural heartland, where Reservoir Farms just opened a 24-acre ag-tech innovation hub in nearby Salinas.
Hard money loans serve buyers and investors who need speed over rate. Whether you're closing a fix-and-flip, bridging to permanent financing, or working with limited credit history, hard money provides capital when banks won't.
7–14 days
Typical Closing Time
20–30%
Down Payment Range
8–12%
Typical Rate Range
2–4%
Origination Fees
Hard Money Loans in King City
Hard money loans prioritize the property and exit strategy over credit score and income. Lenders typically want 20% to 30% down and a clear plan to repay within 12 to 24 months.
In King City's market, a property worth $400,000 to $600,000 is typical for hard money deals. The county's median household income of $94,486 is less relevant here — hard money lenders focus on the deal's profit margin, not your W-2s.
Local decision guide
Use this guide to connect hard money loans eligibility, lender expectations, and local market factors before comparing payment options in King City.
King City sits in Monterey County's agricultural heartland, where Reservoir Farms just opened a 24-acre ag-tech innovation hub in nearby Salinas.
Hard money loans serve buyers and investors who need speed over rate. Whether you're closing a fix-and-flip, bridging to permanent financing, or working with limited credit history, hard money provides capital when banks won't.
Hard money loans prioritize the property and exit strategy over credit score and income. Lenders typically want 20% to 30% down and a clear plan to repay within 12 to 24 months.
Hard money lending in California is fragmented across private lenders, hedge funds, and small lending groups. Unlike conventional banks, hard money lenders are not regulated by the same federal rules and can close in 7 to 14 days.
Most hard money lenders in California require a broker to originate the loan. Direct lender relationships are rare for individual borrowers. The market is competitive for strong deals but tight for marginal ones.
Hard money makes sense in King City when you're buying a property below market value and have a clear exit within two years. Fix-and-flip investors and bridge buyers benefit most.
The real advantage of hard money is speed and flexibility. You close in two weeks instead of two months. You don't need perfect credit or tax returns. But you pay for that speed — rates run 8% to 12% and fees add up fast.
Conventional loans cost less over time but take 45 to 60 days to close and require strong credit and income documentation. Hard money closes in 7 to 14 days with minimal documentation but costs 3% to 5% more in total fees and rates.
FHA loans offer lower rates and smaller down payments but require the property to be your primary residence. Hard money works for investment properties and non-owner-occupied deals. If you're buying to live in, conventional or FHA is cheaper.
Monterey County supervisors approved $9.5 million in road, park, and public-safety projects funded by Measure AA. Infrastructure investment like this supports property values and makes King City a stronger market for long-term holds.
Navigator Charter Schools is launching three TK-12 campuses across Monterey County starting in 2026-27, including one in the Salinas-Soledad-Greenfield corridor near King City.
Hard money typically closes in 7 to 14 days. Conventional loans take 45 to 60 days. Speed is the main advantage — you can beat other buyers and close before appraisal contingencies become a problem.
Most hard money lenders don't have a strict minimum FICO. They care more about the property value and your exit strategy. A score of 620 or higher helps, but a strong deal with 25% down can close even with lower credit.
Hard money lenders typically require 20% to 30% down. Some will go lower on strong deals with a clear exit. The down payment protects the lender if the property value drops or the sale takes longer than expected.
Rates available on application — no live pricing for this program at the time of generation. Hard money rates typically run 8% to 12% depending on the deal risk, lender, and market conditions. Origination fees of 2% to 4% are standard.
Yes, but it's not the best choice. Hard money works for investment properties and fix-and-flips. For a primary residence, conventional or FHA loans cost less and offer better terms. Hard money is expensive for long-term owner-occupied mortgages.