Hard money is short-term, asset-based financing secured by the Fullerton property — funded in days, based on equity not income. Typical: ~9.5–15% rate, 1.5–4 points, 65–75% LTV, 6–24 months. Ideal to renovate an older home or build a student rental — then refinance to DSCR. Full program details.
How hard money works
A hard money lender cares first about the property and its equity, not your tax returns. Because approval skips lengthy income underwriting, funds can arrive in days. The higher rate and points are the cost of speed — fine, because it's a short-term tool: acquire and improve, then refinance into a conventional or DSCR loan, or sell.
When Fullerton investors use it
✓ Great for
- Renovating a dated home into a student rental
- Older downtown home renovation
- Value-add investment projects
- Bridge: buy a hillside home before selling
✗ Not ideal for
- Long-term hold with no exit plan
- Buyers with time for standard financing
- Lowest-possible-rate seekers
- Deals with thin equity
Typical terms (2026)
| Feature | Typical |
|---|---|
| Basis | Property & equity — not income; as-is OK |
| Rate | ~9.5–15% |
| Points | ~1.5–4 |
| LTV | ~65–75% |
| Term | ~6–24 months |
| Exit | Refi to DSCR (student rental) or conventional, or sell |
Terms vary by lender, deal & equity; illustrative for 2026, not an offer.
Hard money FAQs
What is it?
Short-term, asset-based financing secured by the property.
Build a student rental?
Yes — buy near campus, renovate, refi to DSCR on the rent.
Older downtown homes?
Yes — funds as-is purchase + renovation, then refinance.
Typical terms?
~9.5–15% rate, 1.5–4 pts, 65–75% LTV, 6–24 mo. Illustrative.
Offer it in Fullerton?
Yes — with a DSCR or conventional exit.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766), serving Fullerton from its Newport Beach office.