Financing Question from a Newbie

2 Replies

Can anyone tell me if this perfect lending scenario exists, or if it is a total pipe dream: 100% financing on a flip (including reno costs) for someone with no experience, so-so credit (650-700), and no cash or "skin in the game"? I don't have enough equity in my own home and would not be an owner/occupant of the deal property, so HELOC and 403k loans are out. But are there lenders (HML/private lenders)willing to take this big of a chance if the deal is really good? Let's just say, to make numbers easy, $100k purchase price, $50k reno, ARV of $200k (based on comps). Thanks in advance for any info!

No, they want you to have some skin in the game.  If it was absolutely fantastic and indisputable numbers maybe, but you won't find that because someone will outbid you.