Question 1

How fast can I close a hard money loan in Millbrae?

Accepted Answer

Most hard money lenders close in 7-14 days once the property appraises. Some can fund in as few as 5 days for strong deals with experienced borrowers.

Question 2

What credit score do I need for hard money?

Accepted Answer

Many hard money lenders approve borrowers with scores as low as 600. The property value and your down payment matter more than your credit history.

Question 3

Can I use hard money for a Millbrae rental property?

Accepted Answer

Hard money works best for short-term projects. For long-term rentals, refinance into a DSCR loan after stabilizing the property to get better rates.

Question 4

What does hard money cost compared to conventional loans?

Accepted Answer

Expect 8-13% rates plus 2-5 points at closing. A conventional loan might cost 7%, but hard money gets you funded in days instead of months.

Question 5

Do hard money lenders verify my income?

Accepted Answer

No income verification required. Lenders care about the property's value and your exit strategy, not your W-2 or tax returns.

Question 6

What happens if my Millbrae flip takes longer than expected?

Accepted Answer

Most hard money loans include extension options at additional cost. Plan your timeline conservatively and budget for at least one 90-day extension just in case.

Hard Money Loans in Millbrae: Fast Capital for Real Estate Investors