Updated almost 9 years ago on . Most recent reply
can anyone tell me if hard money lenders ask you for money first?
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I'm looking to do business with a hard money lender. I found them on the internet they told me they need $250 to find out about my finances before they lend me any money. Is this normal practice?
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A good HML will not charge you ahead of time. Other then for appraisal obviously. Those fees and points are either rolled into the loan or paid at closing. If you come accross one that doesn't do this then move on to another. Don't be one of many new investers that are scammed this way.