Private Hard Money Lender in California, Texas and Arizona: Things to know about California Hard Money Loans.

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Saturday, July 23, 2016

Things to know about California Hard Money Loans.

California Hard Money Lenders generally allow Real Estate

Investors to borrow a certain percentage of the purchase price and rehab costs (usually around 70%). Before you consider any particular lender in California, be sure to be familiar with their terms and rates. Obviously you will need to contribute by paying the closing costs and the ability to service the debt monthly. Most of these loans are asset based loans, while there is a growing trend of Hard Money Lenders looking at your credit score. Many investors, including yourself possibly, may think why this is. The main reason is that Lenders are discovering many loans that they have made over the last 2 years took longer to get paid off than the initial term they were issued for. So now Lenders want to know if you can’t pay the loan off in this time period.

California Hard Money is not cheap.

You might be familiar with the differences of soft money and Hard Money. Soft money is easier to obtain than Hard Money for several reasons. Hard Money is typically private money and come from less traditional forms, whereas soft money is merely the opposite. With California Hard Money, you are paying for the ability to get a loan based on the property itself. California Hard Money Lenders are making loans to people and on properties that bank would never consider lending money to! You are also paying for speed! If you have a property you need to close in 7, 10, 14 days – do you think your bank would meet those times for a conventional loan? You are paying for the availability of funds in a short time frame.

Remember to do some more research on California Hard Money before you commit to them. They also have their advantages that can benefit you and fulfill your needs.

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

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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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

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