Question 1

How fast can I close a hard money loan in Los Gatos?

Accepted Answer

Most hard money loans close in 7-14 days. Speed depends on how quickly the lender can appraise the property and review your deal.

Question 2

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

Accepted Answer

Not necessarily. Lenders focus on property value and your exit plan. Poor credit won't automatically disqualify you.

Question 3

What loan-to-value ratio do hard money lenders require?

Accepted Answer

Most cap LTV at 65-70%. In Los Gatos, strong property values often support larger loan amounts within those limits.

Question 4

Can I use hard money to fund a fix-and-flip in Los Gatos?

Accepted Answer

Yes — that's one of the most common uses. Lenders will want a clear scope of work and realistic resale comps for the area.

Question 5

What are typical hard money loan terms?

Accepted Answer

Terms usually run 6-24 months. Rates and points vary by lender and deal — rates vary by borrower profile and market conditions.

Question 6

How is a hard money loan different from a bridge loan?

Accepted Answer

They're similar, but bridge loans often have slightly lower rates and stricter underwriting. Hard money moves faster and is more flexible.

Hard Money Loans in Los Gatos, CA