Posted by John Corey on June 17, 2006 at 14:43:58:
It depends on what you mean by a ‘rehab lender’.
If you want a higher LTV and lower financing costs assume you will need decent credit, cash and assets.
If you have a great deal and only need a lower LTV you can go the hard money route. Expect to have higher financing costs as the trade-off (plus the lower LTV).
You and the property are a risk to any lender. You need to expect there is a trade-off. Lower LTV and a higher credit score means fewer questions and lower costs. Higher LTV, weak credit score and the lender needs to charge more or cap what they will fund.