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Where can i find a Hard Money Lender that is not credit based?

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Question by paperchase313: Where can i find a Hard Money Lender that is not credit based?
I am looking for a residential hard money lender that lends 65% arv and does not use credit for decisions making only the subject property. No doc. Basically only concerned with the property and if the numbers work. I live in michigan. Also looking for a fast closing.

Best answer:

Answer by Bad
call a real estate agent

What do you think? Answer below!

money money money… MONEY!!!
hard money

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  • Sweetask

    If you can find a home for sale that uses owner-financing they won’t look at your credit.

  • Darren Meade

    Hello –

    May I ask more about your situation? Is the need for a hard money lender based on financial difficulty in meeting monthly payments?

    Or is this simply an emergency?

    The reason I ask if the Hard Money lenders will charge you points (normally 3-5) on the front end, and then give you a much higher interest rate which will increase your monthly payment.

    There are other programs that will not have you pay any expenses out of pocket, looks only at your equity, and allows you to take cash out if it’s for debt consolidation up to $35K

    To qualify the property would have to be worth at least $100K and have at least 25K in equity.

    Is your house in forebearance or has an NOD been filed? If you like, my office number is 866-676-4325 extension 224

    Give me a call so we can talk and find the best solution for you.

    Best Regards,
    Darren Meade

  • Searchlight Crusade

    That is pretty much the definition of “hard money”. All they look at is the value of the property versus how much you owe.

  • Koray

    Kennedy Funding is the company you need to call, check web you can easly fine them,

    If you call NJ talk to Casey, tell him I send you so he can send my commission.

    Koray

  • handsomelittlegentleman

    Hard money lenders want you putting at least 20% into the deal, that is, 20% out of your own pocket.

    So called private money lenders are a big pile of horse waste for folks in your situation. They pull your credit and charge ridiculous fees.

    I’ve even had imbeciles who could not even spell simple words e-mail me and offer to allow me to apply for a loan for a wonderfully small little $500 fee.

    Don’t be dumb – look out – it’s a mess out there.
    Alot of idiots are too stupid to even consider a good deal where the numbers work. Believe me. I tried and tried and finally gave up on going the route you’re driving on.

    That said: If you are in a more decent area things just might turn out to be alot better for you. I live in a godforsaken horrible wasteland of a ridiculous little hell hole town because I’ve got to fulfill certain, how would you say, familial obligations that don’t even belong on me.

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