Your credit score is a factor in our loan process, but how important is it? This is one of the top questions we receive from real estate investors looking for a hard money loan. In the video below I help explain how we look at approving a loan and how your credit score is factored into the overall loan approval decision.
We’ve seen it before: Real estate investors have their investment plan put together, have assembled a project team, and even have contractors lined up for a job - but for whatever reason, they’re hesitant to pull the trigger on a fix and flip loan.
Hi there! I'm Melissa Lynch, Portfolio Manager here at Walnut Street Finance. As you may know, we're answering commonly asked questions on our blog. Chip Sher has weighed in on a few already, and today, I'm going to share a few tips with you about where to start when renovating a fix and flip.
We see it all the time: A prospective borrower with a brilliant plan is interested in an investment property for a fix and flip - but at the crucial moment, their plans are dashed by a less-than-perfect credit score. Why? Because bad credit is almost always an insurmountable barrier to acquiring funding from traditional lenders.