Question 1

How fast can a hard money loan close in El Cajon?

Accepted Answer

Most hard money deals close in 7-14 days. Speed depends on clear title and a complete file.

Question 2

Do I need good credit to qualify?

Accepted Answer

Credit matters less with hard money. A score around 600 can work if the property and deal structure are solid.

Question 3

What loan-to-value do hard money lenders allow?

Accepted Answer

Most lend up to 65-70% of ARV. Stronger borrowers with experience may access slightly higher leverage.

Question 4

Can I use hard money to buy and renovate?

Accepted Answer

Yes. Many hard money loans cover both acquisition and rehab costs. Draw schedules fund renovation in stages.

Question 5

What's the typical loan term for hard money?

Accepted Answer

Terms run 6 to 24 months. These are short-term loans — you sell or refinance before the term ends.

Question 6

Are hard money loans available for multifamily in El Cajon?

Accepted Answer

Yes. Hard money lenders will finance 1-4 unit and small multifamily deals. Underwriting still centers on property value.

Hard Money Loans in El Cajon, CA