In my opinion 25% equity isn’t enough of a cushion to offset the risk.
I try to avoid the Hard Money guys, but know that some are busy.

When they start asking for 40%-50% equity, I’ll let you know. 😉

There was one major lender whose claim was that they weren’t credit score driven. They really amused me.
They would cut legitimate appraisals by 10%-15% an that was several years ago. They were a bit more careful then because they were doing the neg am loans and allowing them to max out at 115%. TA-DA !!