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El Cajon's real estate market moves fast for cash buyers and investors. Hard money lenders fund deals in days, not weeks, which matters when you're competing against all-cash offers or need bridge financing between properties.
The San Diego County median household income of $102,285 supports homes across El Cajon's price range. Hard money loans work best for fix-and-flip projects, bridge financing, or purchases where traditional underwriting won't work.
8–12% annually
Typical Rate Range
7–14 days
Closing Timeline
20–30%
Down Payment Range
600+
Minimum FICO
Hard Money Loans in El Cajon
Hard money lenders focus on the property and your exit strategy, not your credit score or income. You'll need 20% to 30% down and a clear plan to repay — either through sale, refinance, or cash flow.
Lenders evaluate the after-repair value (ARV) of the property. If you're buying a fixer in El Cajon for $400,000 and it's worth $550,000 after repairs, that equity is what matters. Your FICO score and debt-to-income ratio take a back seat.
Local decision guide
Use this guide to connect hard money loans eligibility, lender expectations, and local market factors before comparing payment options in El Cajon.
El Cajon's real estate market moves fast for cash buyers and investors. Hard money lenders fund deals in days, not weeks, which matters when you're competing against all-cash offers or need bridge financing between properties.
The San Diego County median household income of $102,285 supports homes across El Cajon's price range. Hard money loans work best for fix-and-flip projects, bridge financing, or purchases where traditional underwriting won't work.
Hard money lenders focus on the property and your exit strategy, not your credit score or income. You'll need 20% to 30% down and a clear plan to repay — either through sale, refinance, or cash flow.
California's hard money market is dominated by private lenders and specialty finance companies. They operate outside traditional banking rules, which is why they can close fast and work with borrowers banks reject.
Rates run 8% to 12% depending on the deal's risk and your exit strategy. Points and origination fees add another 2% to 4% upfront. It's expensive money, but you're paying for speed and flexibility, not just capital.
Hard money makes sense in El Cajon when you're flipping a property or need to close before you can sell your current home. The speed and flexibility justify the higher cost. Traditional financing won't work for a distressed property or a cash-out refinance.
Hard money doesn't make sense if you plan to hold the property long-term. The interest rate and fees will crush your cash flow. For a primary residence or a rental you'll keep for years, conventional or FHA financing is cheaper.
Conventional loans cost less but take 30–45 days and require solid credit, income, and a clean property. Hard money closes in a week but costs 3% to 5% more per year. Pick conventional if you can wait and qualify. Pick hard money if you need to move fast.
FHA loans split the difference — lower rates than hard money, faster than conventional. But FHA requires a property that passes inspection and a borrower with a 580+ FICO. Hard money doesn't care about either. It's a tradeoff between cost and flexibility.
El Cajon's neighborhoods attract investors because fixer-uppers are plentiful and after-repair values are solid. The city's central location in San Diego County and growing commercial corridor make it a logical choice for fix-and-flip projects.
Schools and parks matter to end buyers. When you're flipping a property, knowing that the neighborhood appeals to families with kids helps you price the renovation correctly. Hard money lenders want to see that your exit buyer exists.
Most hard money lenders accept 600+ FICO. Some go lower if your deal is strong. Credit matters less than the property's equity and your exit plan. Call to discuss your specific situation.
Typical closing is 7–14 days. Some lenders close in 5 days for strong deals. You'll need a clear exit strategy and proof of funds for your down payment. Speed is the whole point.
Rates run 8% to 12% depending on the deal risk and your exit plan. Add 2% to 4% in points and fees upfront. It's expensive, but you're paying for speed and flexibility that traditional lenders won't offer.
Technically yes, but it's not smart. Hard money costs 3% to 5% more per year than conventional financing. For a home you'll keep long-term, conventional or FHA financing is far cheaper. Hard money is built for short-term deals.
The lender can foreclose on the property. That's why your exit strategy matters — you need a clear plan to sell, refinance, or pay back within the loan term. Hard money is not forgiving. Plan accordingly.