Bad Credit Refinance
I have a property I paid cash for, then rehabbed out of pocket. The house is free and clear, but my credit is not good. Are there any lenders that will do an equity line or other forms of refinance with not so good credit?
What a difference 8-12 months make. A refinance with cash out, and I assume this is a non-owner occupied (investment) property,... normally requires a much higher minimum FICO than several months ago. If the bank sells the note, and most do, the underwriter will require a 720 or more FICO score. If you are doing more than one property/year this way, I would talk to a small commercial lender in your area. They may be willing to work with you at 80% LTV.
hard or private money loans are always but is it worth the cost?
I would say find a couple brokers that rep alot of lenders and shop, shop, shop.