A common concern and question we get is whether or not it is possible to get a hard money loan with bad credit or even no credit at all. The answer comes as a surprise to most because loans are almost always mentioned alongside credit and your personal credit score.
Finding 100% LTV Financing Hard Money Lenders
A 100% LTV loan is a loan that covers the complete cost of the property being invested in. Traditionally, when purchasing a property you would put down somewhere around 10-30% of the purchase price and use a loan, such as a hard money loan, to finance the rest.
Which States Have the Most Hard Money Lenders?
It's helpful to know what the availability is for hard money loans in the States you plan to operate in. Eventually, you will want to find a hard money lender near you for your real estate investment.
How to Find Hard Money Lenders Near Me
When one begins their search for a hard money lender they tend to start by trying to find lenders that are nearest to them or the property they are investing in. It's not uncommon for real estate investors to take on a project that is far from where they are located.