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Updated 4 months ago on . Most recent reply

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DeBret McGee II
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6
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What other routes are possible to secure deals

DeBret McGee II
Posted

Hey, has anyone secured any loans/deals even when their credit score was too low? If, so how did you do it?


currently looking to buy a fix and hold or multifamily with tenants in place or single family with tenant in place.

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308
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Julia Lyrberg
  • Lender
  • TX
187
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308
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Julia Lyrberg
  • Lender
  • TX
Replied

Hi Debret,

How low are we talking? Most hard money lenders require a credit score of 600+, but I’d recommend working on building your credit before taking on a fix-and-flip project. Refinancing could be a challenge if your score hasn’t improved by then. Plus, a higher credit score will help you secure better pricing. Additionally, Lenders can assist with a rapid rescore, working with credit agencies to guide you on which cards to pay down to boost your score.

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