If you need investment funding, why not let your home, apartment, or townhouse help you get it? These type loans are not the easiest to acquire, but have definite advantages over more traditional ones.
Residential Arizona Hard Money Lenders offer funding that is normally defined as a non-bankable loan on whatever property a borrower is offering, ex. a single family duplex or other hard asset. This type loan can close in a short a time as three to five days as opposed to traditional lenders whose process can take three to six months (or more) and be held up by any glitch that shows up in the background checking that is being done into your credit history. Time is money, after all.
Some additional reasons for taking this road to funding include: the buyer(s) hold a mortgage already on another property; debt to income ratio appears here because, bluntly speaking, the more money you already owe, the less your chances of repayment, so thinks the standard lender. Traditional lenders generally refuse to set up a fix-and-flip loan—they are strictly interested in the property’s value on the current market. The property is not a conventional type home and again this fact will get in the way of regular funding approval.
The list can go on and on with reasons that never occur to a borrower—a standard lender can and will take into consideration all of these things and more. Arizona Hard Money Lenders don’t view these things in the same light.
Are these type lenders something I should seriously check into?
Also these type loans can be stretched out to a longer period of prepayment than most standard loans—traditional lenders are hidebound by a certain set of rules and requirements their borrowers are obliged to follow.
Residential Hard Money Lenders in Arizona often charge no upfront fees or down payments, a real asset when you are already strapped for cash while trying to get everything off the ground.
Residential Hard Money Lenders in Arizona are much more interested in the value of the collateral you presently have than an absolutely ‘perfect’ credit history in the financial ratings community. They prefer that you have on average of around 40% equity in the home.
Success in your first venture through this type of funding has many advantages—making professional contacts in your chosen field, building a solid reputation by living up to your end of the bargain and having a portfolio of successful investments to show when you try to take on a larger project.
Make certain that you learn all the facts—pro and con–before you decide to go with this type of lender.
Talk to people you already know who are based in the real estate field. Find out what the traditional route of borrowing requires ion order to be able to intelligently compare the two areas. Make your decision based on the facts and go after what you want.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis Dahlberg Broker/RI/CEO
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.