Question 1

How fast can a hard money loan close in Elk Grove?

Accepted Answer

Many hard money lenders close in 7-14 days. Speed depends on how quickly you provide the property details and your documentation.

Question 2

What credit score do I need for a hard money loan?

Accepted Answer

Most lenders don't have a hard floor. A score below 600 can still qualify if the deal has strong equity and a clear exit plan.

Question 3

Can I use hard money to buy and renovate in Elk Grove?

Accepted Answer

Yes. Many hard money loans include a rehab draw structure. Funds are released in stages as work is completed and inspected.

Question 4

What's a typical hard money loan term?

Accepted Answer

Most run 6 to 24 months. They're designed as short-term financing — not a product you hold long-term. Rates vary by borrower profile and market conditions.

Question 5

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

Accepted Answer

Hard money is short-term and asset-based. DSCR loans are long-term rental loans underwritten on property cash flow. Investors often use both on the same deal.

Question 6

How many points do hard money lenders charge?

Accepted Answer

Origination fees typically run 1-4 points. On a short flip, those points hit your margin harder than the interest rate does.

Hard Money Loans in Elk Grove, CA