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Updated almost 6 years ago,

User Stats

5
Posts
1
Votes
Mike Allen
  • Real Estate Agent
  • NJ
1
Votes |
5
Posts

Financing Question from a Newbie

Mike Allen
  • Real Estate Agent
  • NJ
Posted

Can anyone tell me if this perfect lending scenario exists, or if it is a total pipe dream: 100% financing on a flip (including reno costs) for someone with no experience, so-so credit (650-700), and no cash or "skin in the game"? I don't have enough equity in my own home and would not be an owner/occupant of the deal property, so HELOC and 403k loans are out. But are there lenders (HML/private lenders)willing to take this big of a chance if the deal is really good? Let's just say, to make numbers easy, $100k purchase price, $50k reno, ARV of $200k (based on comps). Thanks in advance for any info!

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