The good news about Hard Money Loans is that they are not nearly as strict as traditional lending options. While this means that your credit history and score may not be scrutinized as deeply as it would’ve been otherwise, this does not mean that it will not play a role in your qualification.
Our team of trained professionals will review your credit report and determine whether we have any lenders willing to provide financing in this situation or not. The severity of the credit concern will play a part in the decision. For example, an outstanding mortgage payment, a filed bankruptcy or matters of public record are of greater concern than a late credit card payment or a medical collection. The credit score can also effect the loan terms for the deal—someone with better credit could qualify for lower rates than someone with poor credit, however, this would all have to be reviewed on a case-by-case basis.