Question 1

How fast can a hard money loan close in Burlingame?

Accepted Answer

7-14 days with property appraisal and title work. All-cash equivalent speed lets you compete with cash buyers on Peninsula deals.

Question 2

Do I need good credit for hard money financing?

Accepted Answer

Credit matters less than property value and exit plan. Lenders approve deals with scores below 600 if the numbers work and borrower has experience.

Question 3

What's the typical interest rate on hard money loans?

Accepted Answer

Rates run 9-14% plus 2-4 points upfront. Experienced investors with strong deals get bottom of range. Rates vary by borrower profile and market conditions.

Question 4

Can I use hard money for a primary residence purchase?

Accepted Answer

No. Hard money is for investment properties only. Use conventional or FHA for owner-occupied homes in Burlingame residential areas.

Question 5

What happens if my flip takes longer than 12 months?

Accepted Answer

Lenders offer extensions at 1-2% of loan balance per month. Plan your exit before closing to avoid these costly fees.

Question 6

How much can I borrow against a Burlingame property?

Accepted Answer

65-75% of purchase price or after-repair value. Higher LTV available for experienced borrowers with proven track record on Peninsula projects.

Hard Money Loans in Burlingame: Fast Capital for Peninsula Real Estate Investors