Question 1

How fast can I close a hard money loan in Foster City?

Accepted Answer

Most deals fund in 7-14 days with clear title and appraisal. All-cash backup offers help if you need to close in five days.

Question 2

What down payment do I need for a fix-and-flip property?

Accepted Answer

Expect 25-35% down depending on property condition and your experience. First-time flippers pay more than repeat investors with track records.

Question 3

Can I use hard money for a rental property purchase?

Accepted Answer

You can, but the rates make long-term holding expensive. Refinance into a DSCR loan after renovation to cut your rate in half.

Question 4

Do hard money lenders require an appraisal?

Accepted Answer

Yes, but they order it and close before it's final. They use desktop valuations and comparable sales to approve deals quickly.

Question 5

What happens if my renovation takes longer than expected?

Accepted Answer

Most lenders offer 6-12 month extensions at higher rates. Plan for delays when structuring your initial loan term and budget.

Hard Money Loans in Foster City: Fast Funding for San Mateo Investors