I have found one..But do others exist?

There is a Hard Money lender in my area (Detroit) who provides financing for Rehabbers( like myself) based solely on the property. This Company provides financing up to 65%LTV, and charges 18% interest on the loan. They are a very reputable company, however, because they have no competitors in the area…They take quite a bit of time closing deals…Sometimes as long as 6-8 weeks.

I have searched far, and wide, to find another firm offering the same terms…But I can find no one.

I am currently purchasing a property in Detroit for $5,500.00 which will appraise for $75,000.00. I picked this property up from an auction. I am now in need of financing for the Rehab…

My credit score will not allow me to use most lenders I have talked to. They all want a minimum score of 625. I am looking for someone to finance this deal based on the property…Not my credit.

Any Help would be appreciated.