Just wondered if anyone has any words of wisdom about obtaining commercial mortgages and whether the fees and costs are customarily significantly higher than with conventional mortgages.  

But what happens if I think I can obtain financing (either through private or hard money) and I cannot secure funding by the time window on the contract runs out.  

Are you able after you've done the repairs, and failed to flip within say 3 months, obtain financing via a bank or regular lending institution?

We obtained a few construction bids beforehand and were estimating a max construction budget of $60k.

I have a partner that has flipped houses before but he just moved here a year ago and over time his credit isn't the best and he doesn't know any investors or any way of obtaining the funds.

Even if you figure one out, many lenders don't know and/or don't care about the exceptions, like being able to obtain a second FHA or rules for more than 4 mortgages, etc.

The alternative is she obtains the financing as a natural person and you vest title in the name of the LLC.

It's why banks don't follow this arrangement as they did in the old days.To obtain profits, you need to participate in the partnership, active or passively, and loan the money to that entity, not as an outside lender.

Impressive, but I have a hard time believing any mortgage broker would set up such a deal even with the most naïve of his or her clients.I would also suggest you not use any form of transactional, hard, or private money until you are certain you can make those payments and also know positively you’ll be able to obtain a traditional loan.

Has anyone been successful obtaining a mortgage from a traditional lender without having a credit score?