Hard Money Lender Advice

[Steven Mason]

Hello everyone,

I'm new to real estate investing and I'm planning on purchasing my first investment here in the next couple months. What is the standard percentage down hard money lenders require & are they going to run a credit check? 

[Jason D.]

At minimum, 10% of purchase price, but more likely 10-20% of the loan amount. Plus you'll likely receive renovation payments through by draw, so you'll need to front a percentage of the rehab to get the ball rolling. It's safe to bet on 20% of the loan, plus 25% of the rehab costs, plus money for holding the property.