The borrower is definitely going to need to prove they're credit worthy, that they have enough cash to pay for big chunks of the work before getting reimbursed, that they're experienced with a big rehab like this.

So I call an underwriter and he asks me for my payment history to prove my credit worthiness...

...Yes - at least I take that approach with all potential tenants.Originally posted by sportf190:...I would have to do 3 seperate reports and require a 25$ for each time so I would need 3 checks for 25$ each to run the report....Please don't tell us that you will accept a check from some total stranger, who probably will have bad credit (very common with those who are tenants) - before you even know whether they are creditworthy!

Financing and Loan Options: Banks generally assess the borrower's creditworthiness and evaluate the risks associated with the loan.

It makes a difference.Payments on a 5 year loan of $100,000 calculated at 5% on a 5 year term and due in 5 years is $1,887.12 per month for 60 months.At 8% it's $2,207.24 per month for 60 months.The interest rate is determined by credit worthiness, ability to pay and familiarity.

So, no history of investing or proof of my credit worthiness as a business. 2.

Post 2009 loans have more credit worthy borrowers, in general, which have a better chance of dealing with delinquencies.2.

In other words become a pawn shop.The information that you provide leads me to believe that the borrower is not creditworthy and you are trying to "help out."

Credit scores aren't really that great of an indicator of creditworthiness.

You gotta run their credit/background check to make sure they are creditworthy.