New Investor looking for financing

Hello all,

I’m new to investing but have tons of building experience and need capital to get started. Looking for purchase money and 0 money down and preferably 3 to 6 months before any payments. I have 688 FICO and my wife 678 as of last week. Is there something out there for me and I’m from Tennessee (Nashville Area)?

Thanks for any comments


i have two people you can try and i hope one will work for you tell them bruce carver sent you

  1. shaun gale phone # 877 749 0800 x 327 email

2 )email

hope this will help

With your building experience it sounds as if you are wanting to rehab properties. Is that correct?

Do you plan to hold these properties or sell?

There was nothing mentioned about employment history or income so it would be hard to tell if a conforming rehab loan would work. Most conforming rehab loans require 10% but they’re a couple that will be based upon the arv (after repaired value). If your buying low enough, you should be able to get funding for all of the purchase, fix up, and costs. Those lenders will not build in interest reserves.

Your first choice would be speaking to COMMERCIAL bankers in the area where your properties will be. If the #s all work out you could be able to get in with 0 down as well. Rehab funds are put into an escrow account and released to you in advance to get work started.

If you cant qualify for traditional financing then there are hard money lenders that can give you up to 70% of the arv. These lenders have higher rates and costs but payments, costs, fix up, and purchase can all be rolled in.

You should speak to mortgage consultants who deal with investors on a daily basis and know how to help you find the right lenders.

Thanks for the info.

we have a combined income of $77,000 gross. I don’t have any extra cash for down payment or repair costs. I do want to sell (flip) the properties.

Thanks in advance

You’re kind of in the crossfire here of what 2 lenders can do.

The conventional lender can get you 80% of the after repaired value. This can cover purchase, fix up, and cost but payments cant be rolled in. The rehab works has to be more than just cosmetic. Rehab funds are put into escrow and can be released in advance to get work started.

On the otherhand, they’re are the hard money lenders who will loan 70% arv…unlike the conventional loan, payments can be rolled in along with everything else. Hard money lenders will not advance the money in the escrow account. So if you have $40,000 in work that needs to be done, then 6 or 7 draws could be set up. You would either need to have $5-6K to get work started or a flexible contract who can get paid after each phase. If you were doing the work yourself, possibly having a Home Depot or Lowes card may help.

If you have absoltuly no sources of funds for starting the work, would you be willing to take a loan which required monthly payments?

I still think contacting your local banks would be the ideal route. Spend one day a week (or more) opening up the telephone book and just simply call them. Ask for the commercial loan officer who does rehab loans. Let them know you have a good credit score with income and you’re looking for a bank that works off the arv. If the ltv is low enough could you get in with no money down and rehab funds release upfront. It may take several weeks of calling but you should be able to find a couple that will work with you.

non owner occupied with 100% finance at fico 680.

With that FICO you should be able to qualify for a unsecured personal loan to 100K.
Your in Construction??
Are you business licenced 2 years
You can get up to 250K unsecured
Just search for business lines of credit.

thanks again,

my fico score allows me a potential loan of 100K? with who I need to talk to them.



what are some of the requirements one would need to have to deal with a hard money lender