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Updated over 6 years ago,
How much weight does proof of funds from a HML carry?
My partner and I are looking at both potential flips and BRRRR’s. We have private lenders who would be willing to lend “for the right deal” but none who are willing to approve the deal until our offer has been accepted.
If none of our lenders approve a deal we make, we’ll go the traditional hard money route. Because of that, I see no ethical problem with giving proof of funds from a HML (they will be our option unless we get a better rate) but am not sure if it will be enough when submitting an offer.
Is proof of funds from a HML enough to have our offer entertained?