Just starting out in the chicago and surrounding area
My wife and I just decided to start our very first flip. I am a retired Navy Seabee builder and currently work for a multi-site company as a Project Manager. we are looking into the HML vs Conventional loan. the house we are looking at is in a very nice area the comps in the area are good also. I guess my question is would it be hard to get a HML and how do they work? I was going through some of the information but don't fully understand if the HML % is based on the total loan amount or the selling price?
Thank you
Sam