Question 1

How fast can hard money loans close in Shasta Lake?

Accepted Answer

Most hard money loans close in 7-14 days once we have a contract and property inspection. Some lenders can move faster for strong deals.

Question 2

What's the maximum loan-to-value for hard money?

Accepted Answer

Most hard money lenders cap at 65-75% of after-repair value. Your down payment covers the gap between purchase price and loan amount.

Question 3

Can I use hard money for a property that needs major work?

Accepted Answer

Yes, that's the ideal use case. Lenders evaluate based on after-repair value, not current condition. You'll need a detailed renovation budget.

Question 4

What interest rates should I expect on hard money?

Accepted Answer

Rates vary by borrower profile and market conditions. Expect 9-14% depending on loan-to-value, experience, and property condition. Points typically add 2-4% upfront.

Question 5

Do I need real estate investment experience for hard money?

Accepted Answer

Experience helps but isn't required. First-time flippers pay slightly higher rates and may need more equity. A strong exit strategy matters more than track record.

Question 6

What happens if my renovation takes longer than expected?

Accepted Answer

Most hard money loans include 12-24 month terms. Extensions are possible but expensive. Budget conservatively on timelines to avoid costly rollover fees.

Hard Money Loans in Shasta Lake: Fast Funding for Investment Properties