Question 1

How fast can a hard money loan close in Victorville?

Accepted Answer

Many hard money loans close in 5-10 business days. Speed depends on the lender and how quickly the property appraises.

Question 2

What credit score do I need for hard money?

Accepted Answer

Most hard money lenders don't have strict score minimums. The property's value and your down payment matter far more.

Question 3

Can I use hard money to buy a rental property?

Accepted Answer

You can, but hard money is short-term. Most investors refinance into a DSCR loan once the property is stabilized.

Question 4

What is ARV and why does it matter?

Accepted Answer

ARV stands for after-repair value — the property's estimated worth after renovations. Lenders base your loan amount on ARV.

Question 5

Are hard money rates higher than conventional rates?

Accepted Answer

Yes. Hard money rates run well above conventional rates. You're paying for speed, flexibility, and asset-based approval. Rates vary by borrower profile and market conditions.

Question 6

How long is a typical hard money loan term?

Accepted Answer

Most hard money loans run 6 to 24 months. They're designed to be paid off through a sale or refinance, not held long-term.

Hard Money Loans in Victorville, CA