Matching Financing to the Type of Purchase

[Marty Hyland]

Hey Everyone,

So I've talked with a few lenders, and one approved me for a line of credit against my home, I've got about $200k in equity in the house. What I'm wondering, and some lenders haven't been able to clarify, is whether I should ask for different financing options on different types of deals. For instance, If I found the right house on Xome, I was told I couldn't get a hard money loan for it, hence the line of credit from a different lender. It's tough to swallow the amount of time it takes to find a property, only to be told (for this last one) that I couldn't get financing for it. Does anyone have any insight about getting approved for multiple types of creative financing so that, in the event I find one at auction, one on MLS, one from the banks etc., I'd be able to confidently offer and be able to close on a property?