HML ?

Financing, Hard Money Lenders, Private Money
1

I’m looking for a HML or private investor who will lend purch price plus arv costs probably up to 70%. Where it is tricky my borrower is looking to get the repair money when he closes. I know most fix-flip loans are done like constructions loans using draws. How do I find an hml that will lend all the repair costs at closing for properties located in Michigan.

Thanks for your help

2

Why does he need all the cash for the rehab upfront?

What if part of the rehab funds could be fronted?

This can be done as a soft money loan, requiring a 640+ fico and some disclosure of income. (ratios are not calculated) 80% arv.