What credit score do I need to flip a house?
Most banks will not lend to someone with less than a 620 credit score. When getting loans for house flips, the credit score is not nearly as important. The reason the credit score is not as important is that the type of loan is completely different when you flip houses.
Do you have to have money down for a hard money loan?
In most cases, yes. It is common for hard money lenders to require between 10 and 25 percent of the purchase price. ... Conversely, if you have a low credit score and very little experience, you may need to put more money down than a more qualified investor.
Does hard money get 100% financing?
Do Hard Money
First off, they can actually do 100% financing for your fix and flip project, a rarity in the hard money sphere. They don't require any credit or experience in the underwriting process, and don't have a minimum requirement for a downpayment.
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