{"id":1035,"date":"2020-01-25T13:59:40","date_gmt":"2020-01-25T13:59:40","guid":{"rendered":"https:\/\/blog.calhardmoney.com\/?p=1035"},"modified":"2023-06-29T11:48:48","modified_gmt":"2023-06-29T11:48:48","slug":"how-your-credit-score-impacts-a-hard-money-loan-application","status":"publish","type":"post","link":"https:\/\/www.calhardmoney.com\/blog\/how-your-credit-score-impacts-a-hard-money-loan-application\/","title":{"rendered":"How Your Credit Score Impacts a Hard Money Loan Application"},"content":{"rendered":"\r\n<p>If you are looking for a hard money loan to purchase\r\na piece of property in or around Los Angeles, one of the key components in assessing the viability of a loan application is\r\nyour credit rating. If you have a \u201cpoor\u201d or \u201caverage\u201d credit score, do not\r\nfret. Large banks and traditional lenders routinely place a great deal of\r\nweight on a borrower\u2019s credit score while hard money lenders have more\r\nflexibility and generally view a borrower in a holistic fashion.&nbsp; This means a hard money lender is open to\r\nworking with a potential borrower who may not meet the minimum credit rating\r\ncriteria that traditional banks are required to comply with under federal law.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Credit Score is Just a Number<\/h2>\r\n\r\n\r\n\r\n<p>No one should be defined in totality by their credit\r\nscore. Yes, it can be a helpful tool when reviewing applicants, but at the end\r\nof the day, it is just a number. For example, there are many instances when\r\nsomeone is in a strong financial situation (e.g. plenty of liquid, history of\r\nsuccess in flipping real estate, balance sheet is in good shape, etc.), but\r\ntheir credit score does not reflect this fact and is considered in the\r\n\u201caverage\u201d or \u201clow\u201d range. &nbsp;This is a big\r\nreason why an arbitrary credit score will not make-or-break your hard money\r\nloan application. <\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\"><strong>Assessing an Applicant<\/strong><\/h2>\r\n\r\n\r\n\r\n<p><strong><a href=\"https:\/\/www.calhardmoney.com\/los-angeles-hard-money-lenders.php\">Hard money lenders in Los Angeles<\/a><\/strong>&nbsp; typically use credit scores in two ways when making a decision on a borrower\u2019s loan application \u2013 (1) the ability of the borrower to meet their financial obligations and (2) the value of the real estate.<\/p>\r\n\r\n\r\n\r\n<p>Your credit score, in combination with a host of\r\nother factors, will be used in assessing your hard money loan. If approved,\r\nyour loan can be funded in a matter of days. The term for a hard money loan\r\nvaries from a few weeks, a few months, or possibly even a few years. A hard\r\nmoney loan is typically a major benefit in getting a \u201cdeal done\u201d to make sure\r\nyou secure that valuable piece of property.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Can Boost Your Credit Score with a Hard Money Loan&nbsp;<\/h2>\r\n\r\n\r\n\r\n<p>Another benefit of a <strong>hard money loan in Los Angeles<\/strong> is the ability to increase your\r\ncredit score while servicing your payments on time. <\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Looking for Hard Money Loans in Los Angeles? Take Action and Contact PB Financial Group Today&nbsp;<\/h2>\r\n\r\n\r\n\r\n<p>If you are looking to work with a highly reputable <strong><a href=\"https:\/\/www.calhardmoney.com\/\">hard money lender in Los Angeles<\/a><\/strong>&nbsp;, take the time to contact the professional hard money experts at PB Financial Group. PB Financial has helped over 2000 clients thus far and can do the same for you. For further information or to schedule a consultation please contact PB Financial Group at <a><strong>877.700.3703<\/strong><\/a>&nbsp;or visit <a href=\"https:\/\/www.CalHardMoney.com\"><strong>www.CalHardMoney.com<\/strong><\/a> to learn more.<\/p>\r\n\r\n\r\n\r\n<p><strong>PB Financial NMLS #357614\/DRE #0152249<\/strong><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>If you are looking for a hard money loan to purchase a piece of property in or around Los Angeles, one of the key components in assessing the viability of&#8230;<\/p>\n","protected":false},"author":2,"featured_media":1316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[3,93],"tags":[],"class_list":{"0":"post-1035","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blog","8":"category-hard-money-lenders"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How Your Credit Score Impacts a Hard Money Loan Application<\/title>\n<meta name=\"description\" content=\"To know how your credit score impacts a hard money loan application. Call PB Financial Group the best hard money lenders in Los Angeles at 8777003703 for info.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.calhardmoney.com\/blog\/how-your-credit-score-impacts-a-hard-money-loan-application\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Your Credit Score Impacts a Hard Money Loan Application\" \/>\n<meta property=\"og:description\" content=\"If you are looking for a hard money loan to purchase a piece of property in or around Los Angeles, one of the key components in assessing the viability of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.calhardmoney.com\/blog\/how-your-credit-score-impacts-a-hard-money-loan-application\/\" \/>\n<meta property=\"og:site_name\" content=\"PB Financial Group Corporation\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-25T13:59:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-29T11:48:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.calhardmoney.com\/blog\/wp-content\/uploads\/2021\/07\/hard-money-lenders-in-los-angeles.png\" \/>\n\t<meta property=\"og:image:width\" content=\"611\" \/>\n\t<meta property=\"og:image:height\" content=\"409\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Pouyan Broukhim\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Pouyan Broukhim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/\"},\"author\":{\"name\":\"Pouyan Broukhim\",\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/#\\\/schema\\\/person\\\/267a00f001fe4e589f0d08676c1e76d1\"},\"headline\":\"How Your Credit Score Impacts a Hard Money Loan Application\",\"datePublished\":\"2020-01-25T13:59:40+00:00\",\"dateModified\":\"2023-06-29T11:48:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/\"},\"wordCount\":483,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/hard-money-lenders-in-los-angeles.png\",\"articleSection\":[\"Blog\",\"Hard Money Lenders\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/\",\"url\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/\",\"name\":\"How Your Credit Score Impacts a Hard Money Loan Application\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/how-your-credit-score-impacts-a-hard-money-loan-application\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/hard-money-lenders-in-los-angeles.png\",\"datePublished\":\"2020-01-25T13:59:40+00:00\",\"dateModified\":\"2023-06-29T11:48:48+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.calhardmoney.com\\\/blog\\\/#\\\/schema\\\/person\\\/267a00f001fe4e589f0d08676c1e76d1\"},\"description\":\"To know how your credit score impacts a hard money loan application. 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