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Question? Do I need a mortgage broker license to broker/sale hard money loans money loans, fix and flip, construction or etc?
Question? Do I need a mortgage broker license to broker/sale hard money loans money loans, fix and flip, construction or etc?
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Most states do not require a license if the transaction is not a "consumer loan" transaction, meaning that the loan is supplied to an entity (LLC) for business purposes (like real estate investing). There are some states that do require it even for business loan originations (you can check with the state that you are considering brokering in). We are a direct short-term lender for purchase & rehab and ground-up construction to real estate investors and we lend in these states: AL, CT, DE, FL, GA, IN, KY, MA, MD, MO, NC, NJ, OH, PA, SC, TN, TX & VA. Brokers do not need a license to broker with us in the states mentioned. We lend 100% of purchase & 100% of the rehab up to 75% of the ARV. Rob@rehabfinancial.com Direct: 215.913.1580. Love to work with brokers!