Yes, you can. While credit scores play a factor, a lenders’ primary concern is the value of the underlying asset being used as collateral.

It's complicated.        

Most lenders do not offer owner-occupied consumer hard money loans due to the Dodd-Frank act which requires lenders to document the borrower's ability to repay the loan.

When lenders do offer owner-occupied it is generally for business purpose loans.

The lender will foreclose on the property and sell it to recoup their investment.

Common exit strategies include refinancing into a traditional bank loan or selling other assets to payoff thehard money loan at the end of it’s term.

Points arean initialonetime percentage fee to originatealoanand usually range from 1to4percentdepending on the lender.

Almost all lenders will require an appraisal of the property being used as collateral. The value of the collateral asset is the most important factor for lenders when making a hard money loan.

Don’t worry, we’ve got you covered. Check out our homepage for a list of hard money lenders.

Yes, they usually are.

Yes, in fact they are mostly unregulated by states although some restrictions on interest rates(usurylaws) by state governments restrict the interest rates of hard money loans.

Yes. This can give a real estate investor an advantage in the market place as many sellers will prefer cash offers over traditional bank mortgages.

LTV is short for loan to value ratio. In the hard money lending world this is the amount of money you can borrow against the collateral asset.

LTC is short for loan to cost ratio.It is used in commercial real estate to determine how risky a project is. Similar to loan to value, however it also takes into account the construction costs of a project.

ARV stands for after repair value.This is the value of the property after it’sbeen renovated.