The institutions don’t usually store the loans they process at the home office. They transfer the loan at the expense of third-party lenders, allowing them to get funds to assist new clients.
There is a chance that you won’t be eligible for a conventional loan in the event that the property or credit you are applying for isn’t operating in good financial standing. You may have to seek out a hard cash lender.
If you apply for the application for a cash-based loan and you’re not required to be concerned about your credit score or any of the conditions that apply to traditional mortgages. But that doesn’t mean that these applications have no requirements. There’s a chance that you will not be able to qualify for an loan if you’re currently in bankruptcy, or if the house is actually in poor shape. Still, a hard money loan from a non-traditional bank could be the best way of getting the money you need to complete the project thought of.