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Hard Money Loans in Exeter
Exeter's agricultural backbone creates unique fix-and-flip opportunities. Many properties need significant updating to meet modern buyer expectations.
Hard money loans fund these deals in days, not months. When you spot an estate sale property or foreclosure, you need capital that moves at investor speed.
Most Exeter deals involve older homes on larger lots. These properties appeal to families leaving coastal markets but often require cosmetic or structural work first.
Traditional lenders won't touch pre-renovation properties. Hard money bridges that gap, letting you buy and renovate before refinancing into permanent financing.
Your property secures the loan, not your W-2. Hard money lenders evaluate the asset's after-repair value and your exit plan.
Expect 60-70% loan-to-value on the purchase price. Some lenders include renovation costs, funding up to 90% of the final ARV.
You need skin in the game. Plan for 30-40% down payment or equity contribution to cover the gap between loan amount and total project cost.
Credit scores matter less than experience. First-time flippers face more scrutiny on their renovation budget and timeline than seasoned investors.
California has hundreds of private hard money lenders. Rates vary wildly based on loan size, property type, and borrower experience.
Exeter deals typically see 9-14% interest rates plus 2-4 points upfront. Smaller rural loans often cost more than Bay Area fix-and-flips due to lower volume.
Local private lenders understand Tulare County properties better than national firms. They know which neighborhoods hold value and which renovations pencil out.
Watch for prepayment penalties and extension fees. Some lenders charge 3-6% if you refinance early, while others let you exit penalty-free after six months.
We see investors overpay for Exeter properties because they underestimate renovation costs. Get three contractor bids before submitting your loan application.
The best hard money deals close in 7-10 days. Submit bank statements, property details, and a detailed scope of work upfront to avoid delays.
Plan your exit before you buy. Hard money only works if you can refinance into DSCR financing, sell the property, or pay cash from another source within 12-18 months.
Most Exeter investors use hard money as a stepping stone. Buy at $350K, invest $75K, refinance at $525K into a rental loan, then pull your capital for the next deal.
Bridge loans cost less but require better credit. If you have 680+ credit and solid income docs, consider bridge financing at 7-9% instead of hard money at 12%.
DSCR loans work for rental properties that don't need major work. If the property already rents or needs only cosmetic updates, skip hard money and go straight to DSCR.
Construction loans fund ground-up builds but take 45-60 days to close. Hard money moves faster for rehab projects on existing structures.
Investor cash-out refinances pull equity from existing properties to fund new purchases. Cheaper than hard money if you own unencumbered real estate already.
Exeter permits move slower than larger cities. Factor 4-6 weeks for plan approval when budgeting your renovation timeline and holding costs.
Properties near downtown and the orange groves attract the strongest buyer demand. Homes backing to Highway 65 sell for 10-15% less despite similar square footage.
Tulare County appraisers are conservative on rural properties. Order your appraisal early to confirm your ARV assumptions before committing to the renovation scope.
Water rights and well conditions affect property value here. Your hard money lender will verify water availability before funding any agricultural or large-lot property.
Most deals close in 7-10 days with complete documentation. Rush closings are possible in 3-5 days for an additional fee.
Most lenders accept 600+ credit scores. Your property value and exit strategy matter more than your credit history.
Yes, many lenders fund renovation costs in draws after inspecting completed work. Expect to cover some costs upfront then get reimbursed.
Most lenders offer extensions at 1-2% of the loan balance. Plan for this cost or aim to exit before your maturity date.
Your contractors need proper licenses. Lenders verify contractor credentials before releasing renovation funds to protect their collateral.
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.