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Why Low Credit Score Is Not a Deciding Factor for a Hard Money Loan

By November 22, 2018December 15th, 2021Blog, Hard Money Lenders in Los Angeles
hard money lenders in Los Angeles

If you’re among the 56% of American consumers with bad or low credit scores, it’s easy to think that your options to financial independence are non-existent. Nothing could be further from the truth.

No matter how good of an investment idea one has, many traditional bank lenders use credit scores as a major, if not deciding factor, in determining whether to lend you the necessary funds.

In this issue, the expert hard money lenders in Los Angeles at PB Financial Group will discuss how you can still receive the necessary funds to capitalize on your investment opportunity.

How Important is My Credit Score to Hard Money Lenders?

It is impossible to underestimate the importance that traditional lenders such as banks place on good credit scores.
In fact, even if you have high income and strong credit score, banks are more inclined to deny your loan if there are any negative items on your credit report.
Hard money lenders, on the other hand, are much more forgiving, and place more emphasis on the value of the property you want to buy than your credit history.
Indeed, most hard money lenders will power your dreams with much-needed capital for virtually any type of property that has the potential to yield a profit – including commercial, single-family residential, multi-family residential, and industrial properties.

Hard money lenders realize that just about everyone experiences bumps along the road financially during their lives, and having near perfect credit is extremely rare. That is why hard money lenders such as PB Financial Group considers other pertinent factors such as experience, character, and your ability to handle the investment overall.

Do Many People Utilize Hard Money Loans?

A recent article from Entrepreneur magazine confirmed that those with good investment ideas and low credit scores should seek private loan sources to capitalize on the investment idea

For Answers to All of Your Hard Money Questions, call the Reputable PB Financial Group

The housing market in Southern California is booming, so 2019 is shaping up to be a fantastic time for novice investors to make a move.
If you’re looking for an investment that can provide you with a higher yield than what you would find in money markets, hard money realty loans could be the right ticket for your financial security.

Here at the PB Financial Group, we offer protection for your investment and thoroughly investigate real estate investment opportunities.

For more information or to schedule an appointment please contact PB Financial Group at 877.700.3703 or complete our online form.

PB Financial NMLS #357614/CalBre #01522495

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