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credit score: Do Colorado Hard Money Loans Affect Your Credit?
- 02/19/19 10:39 AM
Because Colorado Hard Money Loans are private loans that operate outside the traditional banking system, we get this question a lot around here: will a Colorado Hard Money Loan affect my credit? Let's break it down as clearly and succinctly as possible.
The answer to this question comes down to the differences between a conventional bank loan and a Colorado Hard Money Loan. When you get a common mortgage or loan through the bank, they will run your financial life through a system of checks to see if you're the type of person who will pay the loan back. This will … (1 comments)
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credit score: Can You Really Be Approved for Texas Hard Money Loans with Bad Credit?
- 02/12/19 11:49 AM
Obtaining a loan can be a difficult process if you don’t understand all of your options. If you haven’t explored the potential of private lenders, read more below to see what kind of things that offer that public money lenders don’t.
Joe and Sue were looking to fix and flip a home, but they had limited experience and an imperfect credit score. However, Joe’s experience in business school and Sue’s experience as a designer made them great candidates for successfully flipping a home. Still, their local banks wouldn’t approve their plans.
Joe and Sue began to look elsewhere, and soon found that private … (0 comments)
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credit score: Why Hard Money Loans are Interest-Only and What that Means to You
- 01/22/19 09:16 AM
One of the biggest questions people have is, “Are Arizona Hard Money Loans interest only?” Generally speaking, they are, but you should know the benefits and pitfalls before jumping in.
One of the most misunderstood forms of financing is Arizona Hard Money Loans. Unlike traditional lending options offered by banks, these deals are most often financed by individual people, so you’ll also hear the concept referred to as private money. It’s leveraged quite a bit in the real estate industry. For example, someone in the fix-and-flip business might source funds this way. A real estate investor who intends to hold his property … (0 comments)
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credit score: How Credit Scores Impact Loans and Why Hard Money Lenders Don't Care
- 01/22/19 09:11 AM
Few people with rotten credit will get the funding they need through traditional methods. Arizona Hard Money Lenders are less concerned with your credit, so they may be a viable option if you’re getting bank denials.
Insufficient credit and low credit scores are involved in 36% and 26% percent of funding shortfalls, according to a recent Small Business Credit Survey put out by the 12 Federal Reserve Banks. Overall, about 77% of businesses do not get the funding they need, which creates a major gap in lending.
What’s more, 87% of small-business owners are using their personal credit scores to obtain financing, simply … (1 comments)
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credit score: How Your Credit Score Impacts Arizona Hard Money Loans
- 01/08/19 08:56 AM
It is important that borrowers understand how a low credit score can impact Arizona Hard Money Loans. But it is also important to know that it does not eliminate the potential for a loan.
The Internet is full of stories about borrowers who managed to get Arizona Hard Money Loans without having good credit. And the fact is that there are lenders who will make loans to borrowers with a credit score in the low 500’s. But it is also important that borrowers understand that even though the loan approval is not based solely on your creditworthiness, your credit score will have … (0 comments)
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Because Colorado Hard Money Loans are private loans that operate outside the traditional banking system, we get this question a lot around here: will a Colorado Hard Money Loan affect my credit? Let's break it down as clearly and succinctly as possible. 
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