HML for MD or PA purchase non OO

Hi Everyone,

I recently had a traditional lender pull my credit and prequal me. He quoted I’d be at 9.25 with 25% down. My score is 563. I have very little cash (a few hundred).

I do not have any open credit cards - everything is in collections, and I’m paying them off at a rate of 1 per month. I’m paying off about $1200 a month to satisfy the collections.

How can I improve my scores? Would I even be approved by a HML?

With your score, you could use a private money investor at 6%-9% interest and 10% down.

Thanks for the info, nice to know I have an option. How can I find one?

If you know of a hard money lender with rates that are 6-9%…I have a few deals for him. Let me know if this is correct.

Try this link for hard money lenders…