Question 1

How fast can a hard money loan close in Grand Terrace?

Accepted Answer

Most hard money loans close in 7–14 days. Speed depends on how quickly the appraisal and title work are completed.

Question 2

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

Accepted Answer

Credit matters less than the deal itself. Lenders focus on property value, your down payment, and your exit strategy.

Question 3

What is ARV and why does it matter?

Accepted Answer

ARV is after-repair value — what the property will be worth after renovation. Lenders base your loan amount on this number.

Question 4

Can I use hard money for a rental property in Grand Terrace?

Accepted Answer

Yes. Many investors use hard money to acquire and rehab, then refinance into a DSCR loan once the property is stabilized.

Question 5

What happens if I can't pay off the loan in time?

Accepted Answer

Some lenders offer extensions for a fee. Have a clear exit plan — and a backup — before you close.

Question 6

How much do hard money lenders charge in fees?

Accepted Answer

Expect 2–4 origination points plus closing costs. Rates vary by borrower profile and market conditions.

Hard Money Loans in Grand Terrace, CA