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Updated over 3 years ago,

User Stats

101
Posts
62
Votes
Didier Bizimungu
  • Rental Property Investor
  • Saint Petersburg, FL
62
Votes |
101
Posts

Transitioning From Hard Money to Conventional

Didier Bizimungu
  • Rental Property Investor
  • Saint Petersburg, FL
Posted

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.

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