Question 1

What credit score do I need for hard money in East Palo Alto?

Accepted Answer

Most lenders want 600+ but focus more on your down payment and exit plan. Properties with strong after-repair value can overcome credit issues.

Question 2

How fast can hard money close in San Mateo County?

Accepted Answer

We close hard money loans in 7-14 days with clean title. Some lenders can fund in 5 days for straightforward deals with experienced borrowers.

Question 3

Can I use hard money for a rental property purchase?

Accepted Answer

Yes, but plan to refinance into DSCR within 12-24 months. Hard money rates make long-term holds expensive compared to investor loans.

Question 4

Do hard money lenders fund renovation costs?

Accepted Answer

Many lenders fund rehab in draws based on completed work. You'll need a detailed scope and contractor bids at approval.

Question 5

What's the typical down payment for East Palo Alto properties?

Accepted Answer

Expect 25-35% down depending on property condition and your experience. First-time investors usually need closer to 35%.

Question 6

Can I refinance out of hard money into a conventional loan?

Accepted Answer

Only if the property becomes owner-occupied and meets conventional standards. Most investors refinance into DSCR for rentals instead.

Hard Money Loans in East Palo Alto: Fast Capital for Investors