I have heard numerous stories from my past borrowers where they were told how acquiring a home loan would be an unending, agonizing and complicated process. And that on top of this, one minuscule credit problem was going to end their journey to getting their dream home.
This is not the case if you find
the right Lender. Getting a loan for the home you desire can prove to be difficult if Lenders see you as a “high-risk” borrower. So what is a high-risk borrower?
There are 4 circumstances covered in a recent Trulia blog “Are You A Risky Borrower? 4 Ways To Find Out” that are helpful in answering this question:
- Your credit score is below 620.
- Your employment history is unusual.
- You have financial responsibilities you aren’t taking care of.
- You don’t have a down payment.
If one or more of these applies to you, then you probably have some work to do before you can be approved for a traditional home mortgage. Not so with Hard Money. The only item we cannot contend with is no down payment.
If your favorite Lender or bank turns you down for a home loan, give us a call at (707) 523-2099. We have helped many a high-risk borrower with our creative financing programs, known as hard money. We would be happy to help!
For a more in-depth look at the above 4 points, see the original article here: http://www.trulia.com/blog/are-you-a-risky-borrower-4-ways-to-find-out/ .
I wanted to tell my personal story about Hard Money financing to help other families struggling with loan approvals.
Just $200 more a month gave me a bigger home, I could paint and decorate however I wanted, I could privately enjoy backyard fun with my kids and I started benefitting from the tax right-offs of homeownership! 
Most people don’t like trying and then failing. But what happens when you try “doing what everyone else is doing” and don’t get the results expected? You could throw up your white flag and be done with it, or, you can isolate what the problem was in the first place and try again. 
