Question about and to hard money lenders

[Shaun R.]

I've been checking out some of the national hard money lender websites, and all of them have asked about property specifics when you click apply.  I just finished my first deal.  I bought a foreclosure, made repairs, and rented it.  Now that I have a tenant in place, I want to move on to my next deal and do a fix and flip.  The problem is that I don't have a specific property in mind yet.  I haven't even looked very hard because I'm not sure if I could get the financing. 

Most everything I've seen on hard money indicates that hard money lenders don't care about your credit or personal finances, only the deal.  What I want to know, are there any out there that do care?  I have a good income and a good credit score.  I have a partner that has the same.  Are there any lenders that will take those things into account when experience is lacking?  We haven't done a fix and flip yet, but we have the income to show that we could easily make payments and come up with money if a project happened to go over the timeline or budget.

I would feel better about spending some marketing money and really looking hard for good fix and flip properties if I knew I had the money lined up.  Are there lenders that will make loans on these types of deals and pre-qualify a borrower based on income and credit score?

[Jay Hinrichs]

your in the best market in the country for hard money lending at least from a borrowers perspective U have the cheapest borrowing rates in the country by far..  do not go out from local lenders those are your best shot.

credit and ability does factor in .. not necessarily on rate and term  but one yes or no... its still asset based.

I foreclosed on many 800 fico's in my day... that means nothing in the investor world.