Some starting capital is essential to qualify for a hard money loan. This is a topic that we discussed at length in our previous articles (see our blogs on Why No Money Down Hard Money Loans are a Pipe Dream and Why Private Mortgage Lenders Want You to Invest in Your Deal). The reason for it is simple: the lack of seed capital is the primary challenge for many new real estate investors. However, as with everything else, where there is a will there is a way.
Among the many benefits of working with a hard money lender like us is the flexibility of our underwriting. Our hard money loans are not credit score driven, and we don’t verify our borrowers’ income. When it comes to borrower’s contribution to the transaction, we accept a more diverse variety of sources than traditional lenders.