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Updated over 2 years ago on . Most recent reply
Can I get a POF from a Hard Money Lender?
I am interested in submitting an offer on an investment property that went into multiple offers with a deadline of 3pm tomorrow. I want to provide a proof of funds letter so I was going to go with hard money, but the hard money lenders are sending me a preapproval letter for cash instead, defeating the point of a cash offer. Is there a way to get an actual POF on a hard money loan?
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Jay Hinrichs
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Professional Services
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- Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
Professional Services
#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
POF from HML should simply state they reviewed your financials and subject to title and values they are prepared to loan X % against any property you find.
- Jay Hinrichs
- Podcast Guest on Show #222
JLH Capital Partners