Question 1

How fast can a hard money loan close in Yorba Linda?

Accepted Answer

Most hard money loans close in 5-10 business days. Speed depends on how quickly the property appraises and how clean your documentation is.

Question 2

What credit score do I need for hard money?

Accepted Answer

There's no hard minimum like conventional loans. Lenders care most about the deal's LTV and your exit plan, not your credit profile.

Question 3

Can I use hard money to buy and renovate a Yorba Linda property?

Accepted Answer

Yes. Many hard money products include a rehab draw schedule. Funds are released in stages as renovation milestones are completed.

Question 4

What's the typical loan term for hard money?

Accepted Answer

Most terms run 6 to 24 months. These are short-term tools — not long-term financing. Have your exit strategy ready at closing.

Question 5

How much do I need to put down?

Accepted Answer

Expect 30-35% down in most cases. Lenders cap LTV at 65-70% to protect their collateral position on the deal.

Question 6

What's the difference between hard money and a DSCR loan?

Accepted Answer

Hard money closes fast and focuses on collateral. DSCR loans are for stabilized rentals with steady income — a longer-term hold tool.

Hard Money Loans in Yorba Linda, CA