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Burlingame's 220 Park office tower just hit 100% occupancy with tenants like Confluent and Upstart, signaling strong local job growth.
Hard money loans close in weeks, not months. They're designed for investors, fix-and-flip projects, and buyers with credit challenges or unconventional income.
2-4 weeks
Typical Closing Time
8-12%
Interest Rate Range
20-30%
Typical Down Payment
No hard floor
Minimum Credit Score
2-4 points
Closing Costs
Hard Money Loans in Burlingame
Hard money lenders focus on the property value, not your credit score or income. Typical requirements: 20-30% down payment, a clear exit strategy (sale, refinance, or rental income), and a property that appraises for enough to secure the loan.
Unlike conventional loans, hard money doesn't require W-2s, tax returns, or a 680+ FICO. Lenders in California typically want to see that you can service the debt and that the property itself has enough equity cushion.
Local decision guide
Use this guide to connect hard money loans eligibility, lender expectations, and local market factors before comparing payment options in Burlingame.
Burlingame's 220 Park office tower just hit 100% occupancy with tenants like Confluent and Upstart, signaling strong local job growth.
Hard money loans close in weeks, not months. They're designed for investors, fix-and-flip projects, and buyers with credit challenges or unconventional income.
Hard money lenders focus on the property value, not your credit score or income. Typical requirements: 20-30% down payment, a clear exit strategy (sale, refinance, or rental income), and a property that appraises for enough to secure the loan.
California's hard money market is fragmented. Private lenders, hedge funds, and specialized finance companies compete on speed and flexibility rather than rate. Most lenders operate regionally and build relationships with repeat borrowers and brokers.
Rates typically run 8-12% depending on loan-to-value, property type, and exit strategy. Closing costs are higher than conventional (2-4 points). The tradeoff is clear: you pay more for speed and flexibility.
Hard money makes sense in Burlingame when you're buying a fixer-upper, flipping for quick profit, or refinancing out within 12-24 months. The Peninsula's strong appreciation supports that strategy.
The real advantage: speed. A cash buyer or a hard money buyer can close in 3 weeks while a conventional buyer waits 45 days. In Burlingame's competitive market, that speed sometimes wins the deal.
Conventional loans cost less (5-6% rates) but take 45 days and require solid credit, income docs, and a clean appraisal. Hard money costs more (8-12%) but closes in weeks and overlooks credit gaps. Pick hard money if speed matters.
FHA loans split the difference: lower rates than hard money, faster than conventional, but still require credit and income verification. Hard money wins on speed and flexibility. Conventional wins on cost.
Burlingame's job market is heating up. The 220 Park office tower reaching full occupancy means more stable employment for residents and stronger home values. For fix-and-flip investors, that translates to faster resales and better exit opportunities.
San Mateo County's transit discussions (SB 63 sales tax measure for Caltrain and BART) signal infrastructure investment. Properties near transit corridors appreciate faster. Hard money borrowers planning a quick refinance benefit from that upside.
Hard money rates in California typically range 8-12%, depending on loan-to-value, property condition, and exit strategy. Burlingame's strong market supports lower rates within that band. Expect 2-4 points in closing costs as well.
Credit score matters far less than the property itself. Lenders focus on equity, exit strategy, and your ability to service the debt. A 600 FICO is often acceptable if the deal makes sense and you have 25%+ down.
Most hard money lenders close in 2-4 weeks. Some close in 10 days with a clear appraisal and solid exit plan. That speed is the main advantage over conventional loans, which take 45+ days.
Hard money loans typically run 12-24 months. If you can't exit, you'll need to extend the loan (lenders often allow this) or face default. Plan your exit strategy before borrowing. That's why lenders ask for it upfront.
Probably not. If you're buying a home to live in long-term, conventional financing costs 3-4% less over time. Hard money's speed advantage only pays off if you're flipping, refinancing quickly, or buying before conventional approval clears.