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Bad credit? No problem! Most of our top financing options have no minimum FICO.
NYC Lenders - Flexible Loan Options
Funding in as little as 1 week
Hard Money, Individual, HELOC, Cash- Out, Crowdfunding
Lenders may also look at Personal Credit
Each Lender / Loan Types varies
Time is money in the real estate business. Unlike traditional loans that can take weeks or even months, private money loans can be processed and funded within a few days or a couple weeks.
Private money loans don’t need you to have good credit, the property that is going to be backing the loan is the only thing that will be looked at to make sure it qualifies.
People with money sitting in low paying CD’s and other investments are looking for better opportunities for their money which is where you come in with your real estate flip. It’s a win-win for both sides.
Banks stay away from loaning money for fix and flip projects but private investors love this kind of opportunity. This is why they are able to provide creative funding solutions.
Traditional loans are bound by strictly-enforced guidelines. Private money lenders understand this business better and are more willing to work with you to create a loan that works for your project.
Hard money lenders are a more reliable and consistent version of private money lenders. Good hard money lenders allow for fast loan approval and quick access to cash with the dependability and trust of a financial institution. Borrowing from a hard money lender means a more flexible underwriting process than a conventional mortgage which only considers someone’s credit score and W-2 income.