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Sand City sits on Monterey's coast where investment and renovation deals move quickly. The Reservoir Farms ag-tech hub opening in nearby Salinas signals growing economic activity across the county.
Monterey County's median household income of $94,486 anchors typical buyer profiles here. Hard money isn't priced on income — it's priced on the property and exit strategy.
7–14 days
Typical Close
8–15%
Rate Range
20–40%
Down Payment
650+ FICO
Credit Floor
1–3 points
Points
Hard Money Loans in Sand City
Hard money lenders care about the property first, the borrower second. Credit scores typically start at 650, though some lenders go lower for strong equity positions. Down payments range from 20% to 40% depending on the property condition and your exit plan.
Sand City properties in the $500,000 to $1,000,000 range attract hard money because traditional financing often stalls on renovation or bridge deals.
Local decision guide
Use this guide to connect hard money loans eligibility, lender expectations, and local market factors before comparing payment options in Sand City.
Sand City sits on Monterey's coast where investment and renovation deals move quickly. The Reservoir Farms ag-tech hub opening in nearby Salinas signals growing economic activity across the county.
Monterey County's median household income of $94,486 anchors typical buyer profiles here. Hard money isn't priced on income — it's priced on the property and exit strategy.
Hard money lenders care about the property first, the borrower second. Credit scores typically start at 650, though some lenders go lower for strong equity positions. Down payments range from 20% to 40% depending on the property condition and your exit plan.
California hard money lenders split into two camps: local portfolio lenders who know Monterey County deals and national platforms that fund sight-unseen. Local lenders typically move faster and negotiate terms more flexibly.
Hard money rates run 8% to 15% depending on LTV, property condition, and your exit strategy. Points range from 1 to 3 points paid upfront. Terms are typically 12 months with extension options. Prepayment penalties are common — ask upfront.
Hard money makes sense in Sand City when you're buying a fixer that needs 6–12 months of work before resale or refinance. It makes no sense if you're a first-time buyer with stable income and 20% down — conventional financing costs half as much.
Monterey County's $9.5 million in Measure AA infrastructure funding signals long-term stability. That matters for hard money exit strategies.
Conventional loans run 5–7% with 20% down and 30-day closes. Hard money runs 8–15% with 20–40% down and 7-day closes. Conventional is cheaper if you can wait. Hard money is faster if you can't.
On a $750,000 renovation deal, conventional lenders often won't fund because the property doesn't appraise until work is done. Hard money funds the as-is value plus the construction budget.
Navigator Charter Schools' proposal to launch three TK-12 campuses across Monterey County in 2026-27 signals growing families moving into the region.
The 31st Grill opening in Salinas and Reservoir Farms' ag-tech hub show Sand City and the broader county attracting new businesses and residents. Hard money investors betting on appreciation should track these neighborhood signals.
Most hard money lenders close in 7–14 days. Some fast lenders do it in 5 days. Conventional takes 30–45 days. Speed is the core advantage — you pay for it in rate and points.
No. Hard money lenders typically accept 650+ FICO, though some go lower if equity is strong. The property and exit strategy matter more than your credit score. Bankruptcy or foreclosure in the last 2–3 years may disqualify you.
Most hard money loans include extension options — typically 6 months at a time, with additional points charged. If refinancing fails, you may need to sell. Plan your exit before you borrow.
Hard money typically requires 20–40% down depending on property condition and LTV. A fixer in good bones might need 25% down. A heavily damaged property might need 40%. Ask the lender upfront.
Points are upfront fees paid at closing, typically 1–3 points on the loan amount. One point equals 1% of the loan. On a $500,000 loan at 2 points, you'd pay $10,000 upfront. They're built into the cost of speed.