No money down or 10%

I have gotten confused, i have found several preforeclosures that i was planning on wholesaling, but i’m going to rehab if no buyers.
I was going to use a hard money lender if i had to rehab, but i read an article on a different site that said since you are a new investor they still might want 5-10% of your own money in the deal before they lend the rest.
Is this true? ???

Many HML will want you to pay for points upfront ranging from 1-3% generally. HML will generally only lend to 60 or 65% LTV but there are some that can do 70% LTV…so you need to buy with strong equity. Keep in mind your rehab figures need to be included… Some HML will not even give you all the cash from the rehab upfront so ask. I know some will escrow the rehab funds and disperse as you go…