Question 1

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

Accepted Answer

Most hard money loans close in 7-14 days. The appraisal is usually the longest step.

Question 2

What credit score do I need for hard money?

Accepted Answer

Many lenders don't set a hard minimum. The property's value and your exit strategy matter more than your score.

Question 3

What is the typical interest rate on a hard money loan?

Accepted Answer

Rates vary by borrower profile and market conditions. Expect significantly higher rates than conventional loans.

Question 4

Can I use hard money for a Petaluma rental property?

Accepted Answer

Yes, but hard money is short-term. Plan to refinance into a DSCR or conventional loan after stabilizing the property.

Question 5

What does a hard money lender look at in Sonoma County?

Accepted Answer

They focus on the property's current value and your after-repair value estimate. Your income docs usually aren't required.

Question 6

Are there prepayment penalties on hard money loans?

Accepted Answer

Some lenders charge minimum interest periods. Always review prepayment terms before signing — they vary widely.

Hard Money Loans in Petaluma, CA