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Shasta Lake sits in a market where traditional financing doesn't always fit. Hard money lenders step in when speed matters more than rate.
Hard money rates run higher than conventional — typically 8% to 15% depending on the deal. You're paying for speed and flexibility. The tradeoff is worth it when you need capital fast or when the property itself (not your credit) is the collateral.
14–21 days
Typical Closing Timeline
8–15%
Interest Rate Range
20–30%
Down Payment Typical
600+
Minimum FICO (Typical)
Not required
Income Verification
Hard Money Loans in Shasta Lake
Hard money lenders care about the property first, your credit second. Most require 20% to 30% down and a FICO score of 600 or higher — but that floor is flexible if the deal is strong.
Shasta County's median household income is $71,931. In this market, that income supports purchases around $350,000 to $450,000 with conventional financing. Hard money borrowers often exceed that because the loan is secured by the property, not your paycheck.
Local decision guide
Use this guide to connect hard money loans eligibility, lender expectations, and local market factors before comparing payment options in Shasta Lake.
Shasta Lake sits in a market where traditional financing doesn't always fit. Hard money lenders step in when speed matters more than rate.
Hard money rates run higher than conventional — typically 8% to 15% depending on the deal. You're paying for speed and flexibility. The tradeoff is worth it when you need capital fast or when the property itself (not your credit) is the collateral.
Hard money lenders care about the property first, your credit second. Most require 20% to 30% down and a FICO score of 600 or higher — but that floor is flexible if the deal is strong.
California's hard money market is dominated by private lenders and specialty finance shops. They're not banks — they're investors who fund deals based on collateral, not credit. Rates and terms vary widely, so shopping matters.
Most hard money lenders charge origination fees (1–3%), appraisal fees, and underwriting costs upfront. Closing happens in 14 to 21 days if the deal is solid.
Hard money makes sense in Shasta Lake when you're buying a fixer-upper or facing a tight closing deadline. If you're a first-time buyer with stable income and good credit, conventional financing will cost you less over time.
The math works when you're refinancing into a conventional loan after repairs. Spend 12 months fixing the property, then refinance at a lower rate once the value rises. That's the hard money playbook — short-term bridge to long-term savings.
Conventional loans run 2% to 4% lower in rate but take 30 to 45 days to close and require full income verification. Hard money closes in weeks with minimal paperwork but costs significantly more. Pick conventional if you have time and solid credit.
FHA loans offer lower rates than hard money and accept lower credit scores, but they require income verification and take 30+ days. For investors and flippers, hard money's speed and flexibility outweigh the higher cost.
Shasta Lake's real estate market includes waterfront properties, rural acreage, and fixer-uppers that don't fit conventional lending boxes. Hard money lenders understand these deals.
The county's population of 181,554 supports steady demand for investment properties. Investors flipping homes in Shasta Lake often use hard money for the construction phase, then refinance into conventional once the work is done.
Most hard money lenders close in 14 to 21 days. Speed is the whole point — minimal documentation, no employment verification, and property-based underwriting mean faster approval. Conventional loans take 30 to 45 days by comparison.
No. Hard money lenders typically require a FICO of 600 or higher, but that floor is flexible if the deal is strong. The property's value matters far more than your credit score. Some lenders will work with scores below 600 on excellent deals.
20% to 30% down is standard. Some lenders go as low as 15% on strong deals, others require 35% or more on riskier properties. The down payment protects the lender's position and reflects the deal's strength.
Hard money rates run 8% to 15% because you're paying for speed, flexibility, and reduced documentation. The lender takes on more risk and closes faster. It's a short-term bridge — refinance into conventional after repairs to lock in a lower rate.
Yes, but it's rarely the best choice. Hard money is designed for investors and flippers who need speed or have non-traditional properties. Owner-occupants with stable income and decent credit will save money with FHA or conventional loans.