Looking for a hard money lender in philadelphia with a mid of 518 score.
I’m searching through as we speak. Having a hard time finding a lender in my area that will lend with 518.
What are parameters that you are looking for?
Very unfamiliar with the hard money lingo. I am in a desparate situation. I have a rental property that’s in the foreclosure initiation process. This same property is a triplex but operating as a duplex because I haven’t had the funds to rehab the other unit. All separate entries. I have a first mortgage of $55K. The current value of the property is $80K as is. I am believing that once the 3rd unit is rehabed along with the garage which I could even rent out or even place a coin operated washer and dryer in, have the outside freshly painted I believe once all complete the ARV can fall in between $95k - 100k. If everything works out as planned I wll be able to bring my score up within 6 months refinance the loan and start fresh moving forward.