Great deal,now I need financing FAST!!!!

I have a 3 br 1 ba house in ohio that I can get for $10k. It needs roughly $20k in rehab and it comps out between $70k-$75k. My credit score is very low and I need 100% financing for this deal. I need some ideas on how to fund this project. I also have many other great deals that I would like to get funded.

Seller financing or credit cards are likely your best options here. Lenders want $50,000 or more for a loan. Some HML will lend down to $30,000.

If there is no way for you to get the money, then HML is an option. Buy it for
$10,000 purchase
20,000 repairs
4,000 closing costs

$34,000 loan on a $70,000 ARV. 48% Good Job!!!

The property is bank owned so I cant get owner financing and I dont have credit cards so I need to find private money for this deal I think.Can someone point me in the right direction?

HML is what you want. Search google for Hard Money Lenders and then call until you get one that you like. No one will lend you a 100% loan when you have no money, bad credit, and trying to do a little $30,000 loan. The only answer here is to use a HML like I mentioned in my first post.


  1. Find a HML
  2. Put the property under contract
  3. Close on the property
  4. Use the draws to rehab
  5. Put it back on the market or rent it out.

Let me know if you want to know a HML that will lend on properties that are $30,000. I know of one that will go that low.

Lenders want $50,000 or more for a loan. Some HML will lend down to $30,000.

A lot of lenders are starting to relax on their stringent lending requirements due to business drying up - see a more recent article about it here.

I shopped around at local banks and found one that would lend $30,000 at 7.5%.

I’ve heard local banks are far more likely to do loans in the <$50k range.

That’s interesting about finding a non-HML that will do a $30,000 loan. Unfortunitely with no money and bad credit there probably isn’t too much of a chance of getting a 100% loan through a local bank. I think a HML will be the only person who will touch your loan. No offence rehabbersunlimited but with no money and bad credit you are asking too much from a traditional lending source.

Last Friday I received a pop up that said something like “Up to 90% financing on personal residence”. It has been years since I have seen anyone advertise up to 90% financing on a personal residence. Normally it is 100-125% financing that is advertised. I guess times are changing.

I’m having this same issue here in Houston. I am finding some great deals under 50k but hard to find lenders. Are you guys just using conventional loans from banks?