Question 1

How fast can a hard money loan close in Carpinteria?

Accepted Answer

Many hard money loans close in 7-14 days. Speed depends on how quickly title and appraisal come back.

Question 2

What property types qualify for hard money in Santa Barbara County?

Accepted Answer

Single-family, multi-family, and mixed-use properties typically qualify. Lenders focus on after-repair value.

Question 3

What interest rates should I expect on a hard money loan?

Accepted Answer

Hard money rates run significantly higher than conventional loans. Rates vary by borrower profile and market conditions.

Question 4

How long are hard money loan terms?

Accepted Answer

Most terms run 6 to 24 months. They're built for acquisitions and rehabs — not long-term holds.

Question 5

Do I need an appraisal for a hard money loan in Carpinteria?

Accepted Answer

Most lenders order a desktop or drive-by appraisal at minimum. Full appraisals are common on larger deals.

Question 6

Can I use hard money for a fix-and-flip in Carpinteria?

Accepted Answer

Yes — fix-and-flip is the most common use case. Lenders often fund both purchase and renovation costs.

Hard Money Loans in Carpinteria, CA