ISO hard money Leander and info about the process....
We've gone through a couple of lender options at this point. We have the deed on a property and are looking for 25k for the rehab. Our local credit union, by policy, can only lend 13k unsecured. And our local bank is able to lend 25k for 24mo at 9.5% unsecured. We don't want to use the house as collateral because we are wanting to use it as a BRRRR. We are curious about hard money loans and information related to them? Can payments be interest only, reason being is that if we went with the banks offer our monthly payment would be more than 1k/mo. We have excellent credit. How do we find hard money lenders? Does anyone have any suggestions for us?