Hard Money Lender for 80,000 needed

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Hard Money Lender for 80,000 needed

Oscar Padilla
New to Real Estate · Santa Cruz CA, United States · Member since 2020 · 21 posts · 22 votes

Good afternoon everyone, I am looking for a HML for a purchase price of 80,000 and rehab. So far I can only find HML's that require a 100k or more purchase price. Has anyone recently used a HML for 80,000 Purchase Price?

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Stacy RaskinBusiness Member
Lender · Member since 2022 · 1k+ posts · 496 votes
2y

There are lenders that will help finance up to 90% of the purchase price and a 100% of the rehab up to 75% of the ARV with 660 and above credit (the exact details depend on the property and the borrower's credit profile. A better credit score will get a higher LTV). The $100K minimum is a combination of the purchase price (with the borrower coming in with 10-20% of the purchase price for the down payment) and the rehab budget so the property itself can be under $100K. Lender options vary state by state as lenders are licensed state by state. This option is available for Ohio where you tagged the post.

Happy to connect to discuss further. 

[email protected]818-770-0340
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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y

    @Oscar Padilla

    How much you putting down?

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  • Oscar Padilla
    OP
    New to Real Estate · Santa Cruz CA, United States · Member since 2020 · 21 posts · 22 votes
    2y

    @Chris Seveney I can do 20-25% down. 

    0Reply
  • Stacy RaskinBusiness Member
    Lender · Member since 2022 · 1k+ posts · 496 votes
    2y

    There are lenders that will help finance up to 90% of the purchase price and a 100% of the rehab up to 75% of the ARV with 660 and above credit (the exact details depend on the property and the borrower's credit profile. A better credit score will get a higher LTV). The $100K minimum is a combination of the purchase price (with the borrower coming in with 10-20% of the purchase price for the down payment) and the rehab budget so the property itself can be under $100K. Lender options vary state by state as lenders are licensed state by state. This option is available for Ohio where you tagged the post.

    Happy to connect to discuss further. 

    [email protected]818-770-0340
    Bright Skyline518 Reviews
    WebsiteView Page
    3Reply
  • Judith Aguilar
    Member since 2023 · 21 posts · 5 votes
    2y

    @Oscar Padilla hi! I would recommend @Ryan Deasy for your hard money lending needs. Happy to connect you!

    1Reply
  • Brandon Croucier
    Lender · Nashville, TN · Member since 2024 · 700 posts · 284 votes
    2y

    I just need a minimum Loan Amount of $100k, 80k Purchase, 80 LTV = 64k

    $64,000 + Min $36k Rehab, How much is your rehab?

    0Reply
  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 649 votes
    2y

    Most lenders will require the total loan amount (purchase + rehab) to equal 100k on bridge loans, I deal with a few that have a 50k min loan amount.  I fund bridge loans all the time where the purchase price is 65k - 80k.

    1Reply
  • Marty JohnstonPro Member
    Lender · Wauwatosa, WI · Member since 2016 · 570 posts · 203 votes
    2y

    @Oscar Padilla there are hard money lenders who have no minimum loan amounts, but they get really expensive! If the numbers are strong and you're open to mid-teen rates and 5+ pts total / combined with minimum origination fees, you have options - feel free to DM me if that's of interest

    [email protected]414-600-0123
    0Reply
  • James Sims
    91730 · Member since 2024 · 19 posts · 3 votes
    2y

    Hector, is this a fix an flip or buy and hold?

    0Reply
  • Araceli Gutierrez
    Member since 2024 · 63 posts · 6 votes
    2y

    I’m a private lender and have capital I need to deploy in a real estate deal sooner than later. Are you currently on the market for funding? Any deals in the works that you need money for? Or, any free and clear assets that you’d maybe like to leverage with cash-out refinance?

    Please text me at 832-297-5607.

    1Reply
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