Question 1

How fast can a hard money loan close in Palm Desert?

Accepted Answer

Many hard money lenders close in 5-10 business days. Title and escrow speed in Riverside County also affects your timeline.

Question 2

What property types qualify in Palm Desert?

Accepted Answer

Most lenders fund single-family, multi-family, and mixed-use investment properties. Primary residences typically do not qualify.

Question 3

Do I need good credit for a hard money loan?

Accepted Answer

Credit matters less than the deal's numbers. Some lenders fund with scores below 600 if the collateral is strong.

Question 4

What's a typical hard money loan term?

Accepted Answer

Most loans run 6-24 months. They're short-term by design — you flip the property or refinance into permanent financing.

Question 5

Can I use hard money for a short-term rental property?

Accepted Answer

Yes. Many Palm Desert investors use hard money to acquire and renovate, then refinance into a DSCR loan for long-term hold.

Question 6

What does a hard money lender mean by loan-to-value?

Accepted Answer

Loan-to-value (LTV) is the loan amount divided by the property's value. Most hard money lenders cap LTV at 65-75%.

Hard Money Loans in Palm Desert, CA