HML; What do I need?

Financing, Hard Money Lenders, Private Money
1

New to this, need to know what EXACTLY do I need to present to a HML to request a loan? Would also like to know if anyone knows of a good HML in NE P.A. Thanks

2

Every HML is different. In general they will want to know your experience and if they are only financing purchase, they will want to know where your fix-up money is coming from.

3

I agree that all HMLs are different, so you will have to contact each of them individually. I do want to say that just like going to a job interview, it isn’t just the company doing the interviewing.

You should be asking the HML many questions as well. What type of programs do they offer, how long have they been lending? What are their reserves (meaning how many loans can you do at once with them)? Do they offer suggestions or solutions on how to exit your loan and make more money on the project? etc…

4

Anyone know of any good ones in eastern PA?

5

I don’t think you need to deal with a local lender. As long as they meet your needs and loan in your state.

A benjamin in Arizona is still a benjamin in Pennsylvania, etc.

Ha.

6

Thanks 4 the info! I’ll start inquiering with HMLS.

7

Ask away. What do you need to know?