OfflineDoes anyone know if (2) hard money lenders could be used for 100% financing?
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hard money lenders
Posted on: Fri, 02/24/2012 - 18:45
Does anyone know if (2) hard money lenders could be used for 100% financing?
Hard money lenders are all different and have different rules and guidelines but typically do not finance 100%. Private Money lenders are different. I would contact Private Money Lenders first.
good luck!
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The hard money lenders that I have spoken to none do 100%. i have found that they range from 65% to 75% in my area. Doesn't mean there isn't out there.
The two that posted before are correct they will not do 100%. However, you are probably asking if you can get hard money lenders to cover you purchase. The answer is yes if you are asking if they will fund 100% of your purchase as long as you fit under their ARV.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
It's true that they don't usually fund 100% of the deal, but sometimes you can find one that will let you borrow the down payment with a cross-collateralized loan against another property if you have one with equity that fits their criteria. And yes, I've also found they do all have different criteria.
I haven't found private money yet.
thanks alot for your input