Question 1

How fast can I close a hard money loan in Cotati?

Accepted Answer

Most deals close in 7-14 days once we have property details and your down payment verified. All-cash equivalent speed keeps you competitive against cash buyers.

Question 2

What credit score do I need for hard money?

Accepted Answer

Most lenders approve 600+ scores, some go to 550. Your property equity matters more than credit history for approval decisions.

Question 3

Can I use hard money for a primary residence?

Accepted Answer

No. Hard money funds investment properties only. For owner-occupied purchases needing fast closes, we have other bridge loan options.

Question 4

What happens if my renovation takes longer than expected?

Accepted Answer

Most lenders offer 3-6 month extensions for 1-2 points. Request extensions before your maturity date to avoid default and higher penalty rates.

Question 5

How much does hard money cost compared to bank loans?

Accepted Answer

Rates run 8-12% vs. 7-8% for bank loans, plus 2-4 origination points. Higher cost buys speed and approval flexibility traditional lenders can't match.

Hard Money Loans in Cotati: Fast Capital for Sonoma County Real Estate Investors