Hard Money or Other Financing in MA? - Posted by Stephanie
Posted by Stephanie on June 09, 2007 at 10:56:35:
My husband and I may have found a good rehab deal. We are not sure which way to go in terms of financing.
Here’s our situation:
We have excellent credit (High 700s FICO) but we have debt and not much in cash reserves. We both are employed and own our own home with about 100k in equity.
The home would cost under $200k (a steal in MA) and the owner would want 10% down, which we don’t have in cash to offer.
Is hard money or other financing best?
Also, I have checked online for companies that do rehab loans in MA, but would also like any personal recommendations.