Hard Money and Credit

[Jef A.]

I understand a hard money lender may want to review my credit history and score before lending money. However will the loan be associated with my personal credit profile or will the loan be strictly based on the house & deal? I do not mind a lender checking my credit....i have great credit (824 FICO Score) however i do not want a loan on my credit. Is this possible with Hard Money Lenders?

[Deric Gwinn]

I agree with Derek.  We do not report to the credit bureaus, but we DO run your credit.  The simple reason we do this is that even though we are lending ON an asset, we are lending TO a person.  Assets don't borrow money; people do.  Generally speaking, the difference in borrower qualification from lender to lender is a bit of a gauge on their tolerance level for taking a property back.  Some lenders are completely ok with taking properties back and others really want to avoid it.  Its a difference in business model.  

Always happy to discuss more...