rdlloyd 0 Report post Posted December 2, 2004 I was told that hard money was available for rehabs without regard to my credit, and that lenders were more concerned with the after repair appraisal,(60%-70% LTV). Yet, every hard money lender I have spoke to wants to pull my credit. What gives? Share this post Link to post Share on other sites
mpine 0 Report post Posted December 4, 2004 I was told that hard money was available for rehabs without regard to my credit, and that lenders were more concerned with the after repair appraisal,(60%-70% LTV). Yet, every hard money lender I have spoke to wants to pull my credit. What gives?<{POST_SNAPBACK}> Your score is not the most important issue, what is important is the last 12 months. Have you been credit worthy for atleast a year? If so most Hard Money lenders will look past your score. It is also good to work with a mortgage broker for hard money, as you can have 1 person pull your credit, and shop the loan for you without the additional pulls. Best wishes, Michael Pinehttp://www.firstsourceusa.1st-website.com/" target="_blank">First Source Financial USA Share this post Link to post Share on other sites
ChrisGA 0 Report post Posted January 20, 2005 I personally have never had a problem w/ Hard money lenders pulling my credit, they have just charged me 5-10 points on the loan upfront at closing. Try lining up personal private funds from individuals, for your rehab projects. Talk to people who may have 20-50k in an IRA and want to earn 14-16% interest, secure mortgage by property. Share this post Link to post Share on other sites
