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Updated over 4 years ago on . Most recent reply

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Mike Cahill
5
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17
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Hard Money for Down Payment

Mike Cahill
Posted
Is it possible to use a hard money lender for a down payment? Has anyone done that to obtain 100% financing or close to 100% financing?

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39
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Shere Clark
  • Indianapolis, IN
25
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39
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Shere Clark
  • Indianapolis, IN
Replied

@Mike Cahill Hard money loans are based on the hard asset (your property.) Most HML won't lend on a down payment. HML typically finance the purchase price and rehab cost. Your best bet is to find a Private Money Lender who can provide transactional funding.

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