If you are unfamiliar with Arizona Hard Money Loans then you probably don’t know the six signs that you need a hard money loan. But this could answer some serious questions for you.
Arizona Hard Money Loans are loans that are offered by private lenders and are actually based on the value of the collateral that you are using for the loan more than they are based on your credit score. This means that people who are having issues with their credit or have had issues in the past can still qualify for a loan. But because these loans often represent a greater risk for the lender, the cost for hard money and the interest rate on the loan are going to be higher than a traditional bank loan. However, if you are seeing the following signs, hard money could be the answer to your issues.
If you need money fast for a real estate investment, or you will risk losing a great deal, then hard money is perfect for you. Because the loan is coming from a private lender, the process is much faster and less stressful than going to a bank. In some cases, banks will take months to approve and fund a loan but a hard money lender can often complete the entire process in less than two weeks.
If you need flexibility in your loan terms, then again, hard money could be your perfect solution. Private lenders are free to customize the terms of your loan including the repayment schedule, the length of the loan, the interest rate and some will even defer your interest payments until the end of the loan term. No bank will offer those features. And with terms for as little as just a few months, you are certain to be able to get all that you need working with a private lender.
You Don’t Want to Be Cash Poor
You might have a good amount of cash on hand, but you never know when added expenses will pop up. That is another great reason to use hard money loans. Unlike a traditional bank loan, you can take out the short term loan and know that even if there are unexpected expenses, you will still be able to complete the project.
You Are Funding A Fix and Flip
Arizona Hard Money Loans are the perfect financial tool for almost every fix and flip project. The term can be customized to match the timeline for your renovation and without the worries of a long term traditional mortgage or all of the hassles that are involved in the paperwork. In many cases, you can request a loan from a hard money lender and have the loan approved, funded and the project half done before a traditional bank will even provide a response to your request. And even with the higher interest rate, the lower stress level and the fast funding make hard money the best option for a borrower who is doing quick projects and lots of them.
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 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.