If you want to buy a home but don’t have a great credit score, the banks will deny your application. Similarly, if you are self-employed (or just recently employed) and can’t demonstrate consistent work through W2 forms, then you will have trouble borrowing money from banks or credit unions. Great news, HD Lending is an Owner Occupied Hard Money Lender. This means HD Lending can get you a short-term loan so you can buy a house – not just any house, a house that you live in (primary residence).
There are other outfits that offer hard money loans (also called private money loans) but very few offer Owner Occupied Hard Money Loans. This is because of regulatory oversight and compliance rules – this type of loan requires a lot of paperwork. The Owner Occupied Hard Money Lenders at HD Lending know how to handle the paperwork and they are always up to date on the government regulations. Whatever the reason for you being denied a traditional home mortgage loan, we can help. HD Lending wants you to achieve the American dream of home ownership.
There are many reasons why a bank might not approve a loan application, below are some possible reasons. At HD Lending, we put less emphasis on your credit score or previous financial challenges. We focus more on the value of the property you want to purchase: the real estate is used as the collateral for the loan. This means you don’t have to worry if you have had a previous foreclosure, a bankruptcy, or any of the issues below:
With HD Lending, there are fewer requirements to overcome and you are more likely to be approved. Approval is usually much faster than that of a traditional loan. Please give us a call to discuss your options: (480) 808-8687.