Question 1

How fast can a hard money loan close in Farmersville?

Accepted Answer

Many hard money deals close in 7-14 days. Speed depends on clean title, a solid appraisal, and having your docs ready upfront.

Question 2

Do I need good credit to get a hard money loan?

Accepted Answer

Credit matters less than the deal's equity position. Most private lenders care more about ARV and your down payment than your FICO score.

Question 3

What's a typical hard money loan term?

Accepted Answer

Most terms run 6-18 months. These are short-term loans built for rehab projects, not long-term holds.

Question 4

Can I use hard money to buy a rental property in Tulare County?

Accepted Answer

Yes, but you'll want to refinance into a DSCR loan after stabilization. Hard money rates aren't built for long-term holding costs.

Question 5

What does ARV mean and why does it matter?

Accepted Answer

ARV is after-repair value — what the property is worth fully renovated. Lenders base your loan amount on ARV, not the purchase price.

Question 6

Are hard money loans available for first-time investors?

Accepted Answer

Some lenders will work with first-timers if the deal is strong. Having an experienced contractor and a clear exit plan helps your case significantly.

Hard Money Loans in Farmersville, CA