Question 1

How fast can a hard money loan close in Costa Mesa?

Accepted Answer

Many hard money lenders close in 7-14 days. Having your property details and exit strategy ready speeds that up considerably.

Question 2

Do I need good credit to qualify?

Accepted Answer

Credit matters less than the deal. Lenders focus on property value and your equity. Some lenders fund borrowers with scores in the 600s.

Question 3

What's a typical hard money loan term?

Accepted Answer

Most terms run 6 to 18 months. These are short-term tools — not long-term holds. Have your refinance or sale plan ready before you close.

Question 4

What is after-repair value (ARV) and why does it matter?

Accepted Answer

ARV is what the property is worth after renovations are complete. Lenders cap your loan at a percentage of ARV to manage their risk.

Question 5

Can I use hard money for a rental property in Costa Mesa?

Accepted Answer

Yes, for acquisition and rehab. Once the property stabilizes, most investors refinance into a DSCR or conventional loan to reduce their rate.

Question 6

How many points do hard money lenders charge?

Accepted Answer

Origination fees typically run 1-4 points depending on the lender and deal. Always calculate total cost — not just the rate.

Hard Money Loans in Costa Mesa, CA