Question 1

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

Accepted Answer

Many hard money loans close in 7–14 days. That speed depends on a clean title and a solid appraisal or BPO on the property.

Question 2

What property types qualify for hard money in Los Altos?

Accepted Answer

Single-family, multi-family, and mixed-use properties typically qualify. The lender's main concern is the collateral value and your exit strategy.

Question 3

Do I need good credit to get a hard money loan?

Accepted Answer

Not necessarily. Most hard money lenders focus on the deal, not your score. A strong property and clear exit plan matter more.

Question 4

What's the typical loan term for hard money in California?

Accepted Answer

Most hard money loans run 6 to 24 months. They're designed as short-term bridge financing, not long-term holds.

Question 5

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

Accepted Answer

Yes — once the property is stabilized or renovated, a DSCR or conventional refi is a common exit. Plan your exit before you close.

Question 6

Are hard money loan rates higher than conventional rates?

Accepted Answer

Yes, significantly higher. You're paying for speed and flexibility. Rates vary by borrower profile and market conditions.

Hard Money Loans in Los Altos, CA