Arizona Hard Money Lenders will require certain things in order to approve your loan. Here’s a list of things you should have ready before you apply.
Each Arizona Hard Money Lender is different from the last, but there are certain things that they will ask for across the board. These things will need to be provided when applying for the Arizona Hard Money Loan so having these in hand will help you get your loan approved faster so you can get to work on your investment property.
If you’re buying a property for fix and flip you want to have the purchase contract ready so it can be submitted as soon as your loan is ready for funding. You can lose valuable time by waiting until the last minute to get this done.
When you’re applying for your Arizona Hard Money Loan the Lender can get their hands on the title report, but it’s better to come with that in hand.
The Lender will want to know what their Arizona Hard Money Loan is going to fund. Having written bids from your contractors will give them a detailed look at what is going to be done to the property and how much it is going to cost.
Proof of Insurance
Just like a title report, the Lender will want to see proof of insurance. With contractors working on the home and potential hazards waiting, they want their investment to be covered.
These are four important things that you will want to have prepared when you meet to apply for your Arizona Hard Money Loan. Without them your chances of getting funded drop and the time it will take to get approved will extend, possibly making you miss out on your investment opportunity.
If you have these things in hand and want to know more about our loans, please call Level 4 Funding today!
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.