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Updated over 3 years ago,
Transitioning From Hard Money to Conventional
Hi all!
Newbie question here. Once I've secured a hard money loan and used it to buy/rehab a home, how do I present my current situation to a traditional lender when acquiring a conventional loan on the property?
Do I present the property as currently having a hard money loan on it with attached details? Or do I present it as owned by me? Also, how does a bridge loan differ in this scenario?
Appreciate any insights here. My approach is buy & hold/rent.
Thank you,
Didier B.