Hard Money Loan without Other Income?
Hi, I'm trying to understand how hard money loans work and if I'd be eligible.
My situation right now is I'm unemployed and have no income coming in. If I were to find an amazing BRRR deal, then to service the debt I would use a rentor's income.
However, because I have no income outside of that, would that affect my ability to get a hard money loan? I know for conventional mortgage DTI is an important factor, but I wasn't sure from the hard money side.