Question 1

How fast can a hard money loan close in Los Altos Hills?

Accepted Answer

Most hard money loans close in 7-14 days. Speed depends on how fast the lender can complete the property appraisal.

Question 2

What loan-to-value do hard money lenders allow here?

Accepted Answer

Most lenders cap at 65-70% LTV in this market. Lower LTV means less risk for the lender on hard-to-comp luxury properties.

Question 3

Do I need good credit for a hard money loan?

Accepted Answer

Credit matters less than your equity and exit strategy. Many lenders approve at 620 or below if the deal is strong.

Question 4

How long can I hold a hard money loan?

Accepted Answer

Terms typically run 6-24 months. Los Altos Hills renovation timelines often push borrowers toward 12-18 month terms.

Question 5

Can I use hard money to fund renovation costs too?

Accepted Answer

Yes. Many lenders offer construction holdbacks — funds released in draws as renovation work is completed and inspected.

Question 6

What's the typical interest rate on hard money in Santa Clara County?

Accepted Answer

Rates vary by borrower profile and market conditions. Expect higher rates than conventional — you're paying for speed and flexibility.

Hard Money Loans in Los Altos Hills, CA