Applying for a construction loan is a little bit different from applying for a regular mortgage. You need to invest at least 20 percent of your construction capital before the lender will consider your application. Your credit score, construction plan, and the reputable contractor you plan to hire are also important factors. Moreover, you will need...

Hard money loans are loans that do not look at your credit score. The lenders of this type of loan approve you based on the value of your collateral. The lender will want to leave a margin for profit, so they won't lend you 100% of the value of your asset. These loans typically have high interest rates, and loan...

Hard money loans are popular among property flippers. The loan carries an interest-only payment for the first 12 months and then a full repayment at the end of that time. However, delays in completing repairs or failure to find a buyer can prevent you from repaying the loan in full. Some hard money lenders will allow you to extend...