Question 1

How fast can a hard money loan close in San Clemente?

Accepted Answer

Many hard money loans close in 7-14 days. Speed depends on how quickly the property appraises and title clears.

Question 2

What loan-to-value do hard money lenders allow?

Accepted Answer

Most cap at 65-70% of the property value or after-repair value. Stronger deals may get slightly better terms.

Question 3

Can I use hard money for a fix-and-flip in San Clemente?

Accepted Answer

Yes — fix-and-flip is the most common use. The lender funds acquisition and sometimes renovation draws.

Question 4

What happens when the hard money loan term ends?

Accepted Answer

You sell, refinance into a DSCR loan, or pay it off. Plan your exit before you close — lenders expect it.

Question 5

Do I need good credit to get a hard money loan?

Accepted Answer

Credit matters less than the deal quality. A strong property with real equity can offset a weaker credit profile.

Question 6

Are hard money rates higher than conventional rates?

Accepted Answer

Yes, significantly. Rates reflect short-term risk and speed of funding. Rates vary by borrower profile and market conditions.

Hard Money Loans in San Clemente, CA