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Real Estate
Reply to "Need to downsize but can't get mortgage.....should I look into a hard money loan?"
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[quote=avalonrose]See above...I edited my post. Yes, we own the home outright. The upkeep on it is getting a little bit much, as it's a large house. We need to buy a smaller one for about 850, and we intend on making a profit. But we can't buy a home without selling ours first, because no lender will give us an 850k loan to purchase a new house before we sell the home we're in now due my husband's current income level. So, I was asking if anyone had done a hard money loan, or some other kind of loan that is determined on the home's equity and not on income.[/quote]
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