All is not lost if credit is tight and lenders won't give you a traditional loan.

Zachary Epps of the Boulder Real Estate blog, gives some very good pointers on obtaining hard money.

Epps brings up the fact  that hard-money loans for short term projects are more expensive than traditional loans, but may be the best way to finance short term projects when money is tight.

If you have substantial equity  in a hard asset  many lenders will probably consider you even if your credit is not the best at the moment.

Real estate investors should never pass up a good deal just because they many have to spend more for the money.

However, as Epps so aptly points out, you will certainly want to refinance to a traditional mortgage as soon as possible.  

Read Affluent Borrowers Using Hard Money for Boulder Real Estate?

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