Question 1

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

Accepted Answer

Most hard money loans close in 5-10 business days. Speed depends on appraisal turnaround and title.

Question 2

What property types qualify in San Bernardino County?

Accepted Answer

Single-family, multi-family, and mixed-use properties qualify. Raw land is harder to finance with hard money.

Question 3

What credit score do I need for hard money?

Accepted Answer

Many lenders work with scores as low as 580. The property's equity position carries more weight than your credit.

Question 4

Do hard money lenders check income?

Accepted Answer

Most don't require income verification. The loan is secured by the asset, not your ability to repay from income.

Question 5

What happens if my project runs over timeline?

Accepted Answer

You can request an extension, but it usually costs additional fees. Build a buffer into your project schedule.

Question 6

Can I refinance a hard money loan into a DSCR loan?

Accepted Answer

Yes — this is a common exit strategy. The property needs to be stabilized and cash-flowing to qualify.

Hard Money Loans in Loma Linda, CA