Hello thank you for taking time to read my post. I have located a few properties that are way undervalued but in need work all cosmestic. My credit score is decent around 680, but i keep being deined. 1 reason i was denied because i never own property before, another reason this would be my first rehab.
If anyone hear can point me to the right direction to get a hard money loan, or maybe a line of credit from a bank.
I think Central States Mortgage in MI has a program for rehab investing. Google them and you should find them.
Nate-WI
You need to own a home to do a loan with them.
There may be a couple other lenders that I can refer you to.
Feel free to contact me.
Hard Money is risky for both the consumer and the lender. Each lender has set guidelines that they follow by and in most cases their willing to lean one way or the other on. First time home buyer usually isnt one of them. Ive spoken with all of my contacts in your area and we all say the same thing…sorry can’t help you. I will keep looking around for you though, I’m sure their’s someone out there.