Looking for a private lender for real estate purchase?

Private lender needed for funding single family home purchase. Conventional lending very difficult with less than perfect credit. 80K Annual Household income. Trying to rebuild credit, but don't want to put home ownership on back burner during the process. Any help locating a no hassle, fast funding, private lender or hard money mortgage would be much appreciated! Property located in upstate New York. I know there are lenders out there that can help any credit situation, they just need to be found. Please do not reply unless offering legitimate help or information. Thank you!

my Advice: Don't deal with anyone from a foreign country and never use wire transfer servies..

Dear Boo,

Private money lenders and hard money lenders are able to offer financing when banks and other lending institutions say no. However, they typically only lend 60-70% Loan to Value on a property so you would need a substantial down payment. They also charge higher interest rates due to the higher risk credit grade.

If you have a middle credit score above 500, you can get better financing terms (maybe up to 80% Loan to Value) and lower rates (lower than hard money or private lending groups).

Another option to consider instead of hard money is a lease option. Withhouses sitting on the market longer, sellers are more agreeable to lease option. This avenue will get you in the home, you can see any repairs etc that may be missed in a home inspection whileimproving your credit score. Generally, at the end of the term (or sooner if your credit score improves) you arrange financing with a regular lending institution.

I will be more than happy to refer you to hard money lenders in your area, but consider ALL your options first.
Shoot me an e-mail and I will give you names and numbers.

Hopes this helps,