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Hard Money Loans in Montague
Montague's rural investment properties don't fit conventional lending boxes. Hard money lenders base approval on the property itself, not your tax returns or DTI.
Investors buying older homes, land parcels, or farm properties here use hard money when banks say no. Speed matters when you're competing with cash buyers in Siskiyou County.
Lenders want 30-40% down and look at the exit strategy. They don't care if you're self-employed or have recent credit issues.
Your property needs clear resale potential. Hard to finance in Montague: contaminated land, properties without road access, structures with major foundation problems.
Most hard money lenders won't touch rural Siskiyou County properties. You need specialized lenders who understand agricultural markets and small-town resale timelines.
Expect rates of 9-14% and points of 2-5%. Terms run 6-24 months. Lenders prefer properties within 30 minutes of Yreka or Weed for easier liquidation if needed.
I've placed hard money on distressed properties near downtown Montague that appraisers valued at $180K after rehab. Lenders advanced 65% of current value at $110K purchase price.
Most investors here use hard money for 4-8 months while renovating. They refinance to DSCR loans once rent-ready or sell outright. Don't plan to hold hard money long-term.
Bridge loans cost less but require better credit. DSCR loans need tenant-ready properties with existing rents. Hard money works when you need speed and the property isn't financeable yet.
Construction loans through banks take 45 days minimum. Hard money closes in two weeks. You pay premium rates for that speed and flexibility.
Montague's small population means limited buyer pool at resale. Lenders account for this in loan-to-value ratios. Properties near Main Street or with Shasta River frontage get better terms.
Winter weather delays renovation timelines here. Budget extra months for your exit strategy. Lenders prefer spring closings when you can actually work on the property.
Most deals close in 7-14 days once the property appraises. Rural locations sometimes add 3-5 days for appraiser travel.
Some will, but they treat them as land loans with higher rates. Properties with water rights and tillable soil get better terms.
Expect 30-40% down minimum. Lenders go to 65-70% LTV on rural Siskiyou County deals because resale takes longer.
Yes. Most lenders want 600+ but focus on the property value and your exit plan, not your credit history.
Properties without road access, contaminated sites, or structures requiring foundation replacement. Lenders need clear resale potential.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.