Hard $ Lenders FL- that req No $ dn/No credit chk? - Posted by Rob

import · October 13, 2003, 8:45pm

Posted by Joe on October 15, 2003 at 20:56:00:

I have a lender that will lend based upon the merit of the deal.
Contact me if you are still looking for financing.
Joe
jd53@comcast.net

import · October 13, 2003, 8:45pm

Posted by Rob on October 13, 2003 at 20:45:19:

Is there anyone out there that knows of any hard money or private lenders that require no money down and no credit check. I hear there are a few out there that will just go by the equity in the property in most cases (65% ltv) which include closing costs, repairs & points.

I had a Broker tell me that they offered a no money down program like that and the cost of repairs, pts and closing costs can be included but you couldn’t go over 65% ltv. He stated that you had to have two credit scores over 600 (which I did - 662, 648 & 591) He said that I didn’t qualify and I needed to get a cosignor. Sounded kinda weird. Are there any brokers out there that could answer why he would make one statement about having two scores over 600, and when I did (he said that I didn’t qualify after he pulled my credit) I have two collection accts that have pmt arrangements and two others that total apprx $600 (which I will do a short sell to pay them off) all accts were from my job closing down and I was out of work and income for a few months.

Any info you have would be much appreciated!!!

Thanks!
Rob