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Updated over 8 years ago on . Most recent reply

James Harris's profile image
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James Harris
  • from Belleville, Michigan
  • Member since Aug 11, 2015
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James Harris's profile image
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James Harris
  • from Belleville, Michigan
  • Member since Aug 11, 2015
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James Harris
  • Belleville, MI
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Starting Out

Hard Money Terms

James Harris
  • Belleville, MI
Posted

Hello everyone.  I just spoke to a lender and long story short, he said I would need to bring about 20k of my money to the deal (on a minimum loan of 60k).  He hinted that this was common with most hard money loans.  Is there a such thing as 100% financing or is this type of down payment typical with hard money?

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Michael Noto's profile image
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Michael Noto
  • Real Estate Agent
  • from Southington, CT
  • Member since Jan 27, 2008
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Michael Noto's profile image
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Michael Noto
  • Real Estate Agent
  • from Southington, CT
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Michael Noto
  • Real Estate Agent
  • Southington, CT
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Michael Noto
  • Real Estate Agent
  • Southington, CT
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100% financing from a HML is very rare and if you do get it you will pay through the nose for it.

  • Michael Noto
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