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Updated about 3 years ago on . Most recent reply

Alex Brown's profile image
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Alex Brown
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Alex Brown
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Alex Brown
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Mortgage Brokers & Lenders

Can You Use a Hard Money Lender for Repair Costs?

Alex Brown
Posted

Happy Easter all!

I have a commercial building that I'm currently renovating and wanted to know if its possible to get a hard money lender for the repair cost. I was under the impression that hard money lenders are only for if you are first purchasing the property.


If this is possible, please let me know. If you have any suggesting institutions I can inquire with that would be great as well.

Thank you!

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Kathie Riedel's profile image
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Kathie Riedel
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  • from Hot Springs Village, Arkansas
  • Member since Mar 20, 2018
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Kathie Riedel
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  • from Hot Springs Village, Arkansas
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Kathie Riedel
  • Investor
  • Hot Springs Village, AR
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Kathie Riedel
  • Investor
  • Hot Springs Village, AR
Replied

There is nothing illegal about using a HM lender for repairs on real property.

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