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Hard Money Loans in Burlingame
Burlingame's competitive real estate market demands quick decision-making. Hard money loans provide the speed investors need to secure properties before traditional financing catches up.
San Mateo County's high property values make asset-based lending particularly relevant. These loans focus on the property's potential rather than lengthy underwriting processes.
Investors targeting fix-and-flip projects or time-sensitive acquisitions in Burlingame find hard money fills a critical gap. Closing timelines of 7-14 days aren't uncommon with experienced lenders.
Hard money lenders evaluate the property's current and after-repair value rather than your employment history. A solid exit strategy and meaningful equity position matter more than W-2s.
Most Burlingame hard money deals require 20-35% down payment. Lenders want to see your renovation plan, budget, and timeline if you're improving the property.
Credit scores below 600 won't automatically disqualify you. Recent foreclosures or bankruptcies may still allow approval if the deal makes sense and you have sufficient equity.
San Mateo County attracts both local private lenders and national hard money funds. Local lenders often understand Peninsula property values better and can move faster on deals.
Rates vary by borrower profile and market conditions, but hard money typically costs more than traditional financing. Expect rates between 8-15% with points charged at closing.
Broker relationships matter significantly in hard money lending. Experienced brokers know which lenders handle specific property types and can negotiate better terms based on the deal strength.
Successful hard money deals in Burlingame start with accurate property valuations. Overpaying for a property leaves no cushion when lenders calculate loan-to-value ratios.
Your renovation timeline directly impacts loan costs. A six-month project costs half the interest of a twelve-month timeline, so realistic scheduling saves thousands.
Smart investors line up their exit financing before closing the hard money loan. Whether you're refinancing to conventional or selling, knowing your next move reduces stress and costs.
Bridge loans offer similar speed but typically require stronger credit profiles. Hard money prioritizes the asset over the borrower, making it accessible when bridge lenders decline.
DSCR loans work well for rental properties generating income, but require 6-12 months of cash reserves. Hard money works for properties not yet producing revenue or needing significant work.
Construction loans provide project funding but involve complex draws and inspections. Hard money offers lump-sum simplicity, though at higher costs for that convenience.
Burlingame's proximity to San Francisco International Airport and downtown makes it attractive for investors. Properties near Broadway or in the Easton Addition command premium valuations that support larger loan amounts.
San Mateo County permit processes can extend renovation timelines. Factor local building department schedules into your hard money term length to avoid costly extensions.
The Peninsula's strong rental market provides multiple exit strategies. Investors can refinance to long-term rental financing or sell to owner-occupants, giving lenders confidence in funding deals here.
Most hard money loans close in 7-14 days once you submit complete documentation. Properties with clear title and appraisals ready can sometimes close even faster with motivated lenders.
Lenders typically offer extensions for additional fees and interest. Plan conservatively and communicate early if delays occur. Most lenders prefer extending over forcing a sale.
Hard money primarily serves investors and business purposes. Owner-occupied financing usually requires traditional loans with lower rates and longer terms.
Most hard money loans include personal guarantees, though some lenders offer non-recourse options for experienced borrowers with strong deals. Terms vary significantly by lender and situation.
Hard money lenders typically advance 60-75% of property value or purchase price, whichever is lower. Higher LTVs may be available for experienced investors with strong credit.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.