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Updated about 4 years ago,

User Stats

207
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157
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Waylon Zook
  • Etna Green, IN
157
Votes |
207
Posts

Hard money lender for personal residence

Waylon Zook
  • Etna Green, IN
Posted

I have a client the is receiving a large insurance settlement from a work injury in several payments. Credit is not good and no verifiable work history. Would it be possible to put 50k down on a 200k home and use a hard money lender for the rest until large payment comes in the end of year to pay off loan? This is an unusual circumstance that would other wise require a 4 bedroom rental to the tune of almost 2k @ month. Otherwise I would advise to rent for a while until final payment is received and it may be the best option anyway.

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