Hard money loans are a great option for real estate investors who are looking for access to fast capital for their next real estate project. They can be utilized by those who are new to real estate investors as well as those with years of experience. Often times those who are new to private real estate loans will ask our network of hard money lenders if they can get a hard money loan with bad credit? Our team has years of experience working with hard money loans and will help you understand how bad credits will impact your ability to receive a hard money loan.
Can I Get A Hard Money Loan With Bad Credit?
If you are curious if you can receive a hard money loan with a bad credit score, then the short answer is that it depends. Hard money lenders are private real estate lenders so they have much more freedom when it comes to who they can provide loans to when compared to traditional banking institutions. A private real estate lender can choose to provide a loan to nearly anyone that they want to. This opens the door for those who have a bad credit score, have a bad track record of recent projects, or don’t have much experience. The answer is that it depends on what hard money lender you are working with.
Our network of hard money lenders have worked out deals with individuals and corporations who have bad credit scores. Our network have the expertise needed to make a deal work for both parties and have experience working with a wide variety of different clients. Some of the clients we work with have years of experience and very successful track record, while other clients we have worked with have very little experience and a bad credit history. Our network strive to help provide a loan to anyone who is interested in receiving a loan.
A few more factors that come into play when receiving a hard money loan is the experience of the client. The credit score of the client isn’t everything. The hard money lenders will typically take a look at the clients experience with real estate investing, the type of project they are looking at, as well as more. Another factor that lenders will analyze is the type of loan that is been offered. A fix and flip loan, a church loan, or a commercial loan all may have different requirements for the lender.
If you are interested in learning more about our network of lenders, or would like to receive a free loan quote, fill out the quote at the bottom of the page.