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Updated over 6 years ago,
Nonrecourse on Hard Money Loan?
So I’m shopping around for hard money lenders, and notice that most are recourse loans. I’m hoping to find financing with these terms:
▪ 90% of purchase price
▪ 100% of rehab budget
▪ Interest only payments
▪ Points rolled into principal?
Am I searching for a mythical unicorn? Or is it possible to get a non-recourse loan with these terms?