Important information about Timeshare Scams - Beware!

Timeshare Scams - Let Me Count The Ways. . .

If we were to count the ways that the timeshare resorts are training and retraining their salespeople to scam you, that would take too long because the ways goes on and on.

Now of course they don’t think its scamming, they’re just trying to take your “No” and turn it into a “Yes”.

If they have to take a 90 minute presentation and turn it into a 6 or 7 hour presentation so be it!

You see, the resort pays a lot of money to have people like you come through their doors.

Those people on the streets and in the malls that initially called you over to their booth get paid some pretty good money to book your tour and to have you show up at the presentation.

No Shows

If you don’t show up, they call that “No Shows” and if the people in the booths get too many of them, it could cost them their jobs.

So they need to tell you anything they have to have you show up at the appointed time that you scheduled with them.

I read once that people were being promised a new boat. (Now who wouldn’t show up for that?) After the presentation, the new boat that was promised, ended up being a new toy boat! Now in all honesty it was probable a very nice toy boat.

But I’m sure the turnover in the gifting department was like a revolving door because the poor employees that had to give over a toy boat most likely got an ear full on an hourly basis.

Anyway you get the picture. You know the old saying, “If it sounds too good to be true… it probable is.”

But the timeshare industry lives and I hate to say thrives on the rule that there is a sucker born every minute.

And if you could hear the timeshare scams stories that I hear, you would probable believe that yourself.

Now it’s not just the people that you might think that maybe a gullible, because this group includes, doctors, lawyers and Indian chiefs.

How About You

But let’s talk about you, so you went ahead and took to plunge. You took the timeshare salespeople at their word and all the promises they gave you.

You took the hook, line and sinker. You signed on the dotted line and now you’re the proud new owner of a timeshare.

You may even use it a time or two. But now it’s not really turning out exactly like you were told that it would at the time you purchased the timeshare.

They did tell you that they were building new units so just because you had a difficult time booking your vacation, you were still able to do it.

And just because the swimming pool was so crowded that you were only able to soak your big toe, they did say they were going to build two more swimming pools, the construction just hasn’t started yet. It will all be done by the time you come back next year.

But it’s not. Now you’re getting a little ticked, okay a lot ticked!

Your Timeshare Contract

You get out your timeshare contract. You’re sure all this stuff would be covered in the contract. The nice salespeople told you it would be... You know they wouldn’t lie to you.

Of course you didn’t have time to read the contract. They told you at the time you signed it that you didn’t have to. It was just a standard timeshare contract. And you took them at their word.

Oh boy. There’s trouble!

Now you learn that the internet is full timeshare resale scams.

How To Cancel Your Time Share

It’s at this point that many people began to think about how to cancel a timeshare purchase and they learn it’s NOT easy to get a timeshare cancellation.

Many people that have been a part of one of those timeshare scams send a timeshare cancellation letter. But they learn this is no help.

The biggest question for many timeshare owners is how do I cancel my timeshare? I’ll tell you more about that in a minute.

Now Back To You

You have decided that you want to get out of the timeshare contract.

So, you call the timeshare company because you want to know how to do a timeshare cancellation. You tell the timeshare company that you have been a part of a timeshare scam.

The timeshare resort tells you, “Sorry. You have signed a legal binding contract and there is no way for you to get out of it.”

But you say, “Yes, but what they told me was, they were going to be more building at the resort and that hasn’t come to pass.” This is a timeshare scam!

The customer service person asks, “Is all that in the timeshare contract?”

“No, but I know they told me that. My wife was right there with me and she heard it too.”

“BUT is it in the contract?”

“No… but…”

“I’m sorry there is nothing I can do. It is a legal contract. Enjoy your timeshare. Have a nice day. Goodbye.”

And now, you feel like you have no recourse.

Good News For Timeshare Cancellation

But WAIT . . . I’m here to tell you some good news about wanting a timeshare cancellation.

You are stuck with that timeshare contract only if you want to be.

What the timeshare resort has done to you can be UNDONE.

I know that there are so many people out there that need to hear that. There are so many people filled with anger, fear and hopelessness.

Take back your sleepless nights and know that there are ways that you can take action against the timeshare scams.

The good news is, your timeshare contract can be canceled. Yes a cancel timeshare can be a reality.

We have valuable FREE information that will help you discover how to cancel timeshare contract – yes, you can permanently cancel your timeshare payments, all maintenance fees and your entire timeshare contract.

If you own a timeshare and would like know how to cancel a timeshare, to learn more about a timeshare cancellation see our frequently asked questions at: www.timesharecancelcenter.com/faq  or call us at Call 24/7: 1-855-600-9053

Bridge Loan for Owner Occupied Home - How does it work?

HOW DOES A BRIDGE LOAN WORK

Bridge Loans are Asset-based loans (ABLs). These loans are revolving lines of credit or term loans that are secured by the borrower’s assets such as a real estate.

How much credit a borrower can access is primarily determined by the quality and value of the collateral, which can range from accounts receivables and inventory to equipment and real estate.

For a real estate a bridge loan transactions is to finance the initial construction of a dwelling with a terms of twelve months or less, such as a loan to purchase a new home where the consumer plans to sell a current dwelling within twelve months.

Reasons to take a Bridge Loan:

•   Move before you sell your current home
•   A better alternative than obtaining an equity partner
•   Bridge the gap, while waiting on conventional financing
•   Down payment to begin a build-out project
•   Acts as a line of credit with access to 5 loan drafts over 120 days
•   Equipment purchasing
•   Cash flow stabilization
•   Working capital
•   Acquisition
•   Turnaround financing
•   Capital expenditures
•   Debtor-in-possession (DIP) financing
•   Growth
•   Recapitalization
•   Refinancing/restructuring
•   Buyout
•   Leveraged employee stock ownership plan (ESOP)

Benefits of Bridge Loan:

•    Fast and convenient
•   Saves money
•   Flexible
•   Keeps you in control of your business

CFPB Renewal Temporary or “Bridge Loan” 
12 CFR Part 1026 (Regulation Z)
§1026.43 Minimum standards for transactions secured by a dwelling.

Under § 1026.43(a)(3)(ii), a temporary or “bridge” loan with a term of 12 months or less
is exempt from § 1026.43(c) through (f)    (known as the seven gate of hell)

What are the sections of CFPB?

§1026.43(a) Scope
§1026.43(b) Definitions and under this section you find this information:
§1026.43(a)(3)(ii)  exempt for bridge loan the following sections

§1026.43(c) Repayment ability
§1026.43(d) Refinancing of non-standard mortgages
§1026.43(e) Qualified mortgages
§1026.43(f) Balloon-payment qualified mortgages made by certain creditors

The following sections still apply to bridge loans:
§1026.43(g) Prepayment penalties
§1026.43(g) Evasion; open-end credit.

What is the definition of a “Bridge Loan”?
It is a temporary or “bridge” loan with a term of 12 months or less, they are:

  such as a loan to finance the purchase of a new dwelling where the consumer plans to sell a current dwelling within 12 months or a loan to finance the initial construction of a dwelling;

  a loan to finance the purchase of a new dwelling where the consumer plans to sell a current dwelling within 12 months and a loan to finance the initial construction of a dwelling.

  1026.35(c)(2)(v) A loan with a maturity of 12 months or less, if the purpose of the loan is a “bridge” loan connected with the acquisition of a dwelling intended to become the consumer's principal dwelling.

  1026.32(d)(1)(ii)(B) A loan with maturity of 12 months or less, if the purpose of the loan is a “bridge” loan connected with the acquisition or construction of a dwelling intended to become the consumer's principal dwelling; or

  1026.35(b)(2)(i)(C)A temporary or bridge loan with a loan term of twelve months or less, such as a loan to purchase a new dwelling where the consumer plans to sell a current dwelling within twelve months; or

  1026.43(a)(3)(ii)A temporary or “bridge” loan with a term of 12 months or less, such as a loan to finance the purchase of a new dwelling where the consumer plans to sell a current dwelling within 12 months or a loan to finance the initial construction of a dwelling;

Things to consider when doing a bridge loan.

A creditor must determine in each case if the transaction is primarily for an exempt purpose. If some question exists as to the primary purpose for a credit extension, the creditor is, of course, free to make the disclosures, and the fact that disclosures are made under such circumstances is not controlling on the question of whether the transaction was exempt.

FACTORS. In determining whether credit to finance an acquisition—such as securities, antiques, or art—is primarily for business or commercial purposes (as opposed to a consumer purpose), the following factors should be considered:

GENERAL.
1.The relationship of the borrower's primary occupation to the acquisition. The more closely related, the more likely it is to be business purpose.

2.The degree to which the borrower will personally manage the acquisition. The more personal involvement there is, the more likely it is to be business purpose.

3.The ratio of income from the acquisition to the total income of the borrower. The higher the ratio, the more likely it is to be business purpose.

4.The size of the transaction. The larger the transaction, the more likely it is to be business purpose.

5.The borrower's statement of purpose for the loan.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:     (512) 516-1177
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027
   
 Equal Housing Opportunity. *APR varies from 9.6 – 12.5% **Contingent on valuation and site inspection. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin. This is not a Good Faith Estimate (GFE) and should not be considered as such. Costs, rates and terms can only be determined after completion of a full application. Mortgage rates could change daily. Actual payments will vary based on your individual situation and current rates. Products are available in Arizona only. To get more accurate and personalized results, please call (623) 582-4444 to talk to one of our licensed mortgage experts. Terms and conditions of this and all loan programs are subject to change without notice. Level 4 Funding LLC is licensed in the State of Arizona, NMLS 1018071 AZMB 0923961.

How to Clean up Your Finances to Get a Self Employment Home Loan

Being self-employed can be both a benefit and liability when it comes to your financial life. Various tax deductions and business credits can be very lucrative but they can also bite you when it comes time to get a home loan. There are several ways that you can get your finances in order so that you can be sure to qualify for a self employment home loan.

Getting a home loan when you are self-employed can be difficult. Many business owners take advantage of several tax deductions to lower their tax liability and write off legitimate business expenses. Unfortunately, when the bank looks at your tax returns this can make it appear that you lost money on your business, even if you in fact had a good year. Also, various business loans or losses can affect your personal credit and lower your score. This can also be a deal breaker for many traditional lenders who may laugh you out of the bank when you come in for a loan.

While this may be embarrassing, it is also avoidable. If you are thinking of purchasing a property, whether for an investment, vacation home, or primary residence, there are certain steps you can take to clean up your finances to give you the best shot of qualifying for a self employment home loan.

·       Clean up your tax returns for two years prior to attempting to get a loan. Take less deductions to make your taxable income higher. While you may pay more taxes, it will also make it easier to qualify for a home loan.

·       Stash away extra cash. While factors like credit score and debt to income ratio are important, money talks and often it speaks the loudest. Having a large down payment and a year of living expenses in the bank can often make you look like a more attractive loan candidate, even if your finances are less than ideal on paper.

·       Separate your personal and business finances. Think about incorporating your business into an LLC or other entity to keep it separate from your personal accounts. Pay yourself a salary and charge any and all business expenses to a business credit card. If you get a business loan, keep it in your business name, not your personal name. Keep your business accounts and personal bank accounts separate. This will lower your debt to income ratio and keep all of your business taxes separate so you can still take advantage of all the deductions you are entitled to without affecting your chances of qualifying for a home loan.

·       Keep meticulous records. One thing that can be a serious problem for many business owners is that it can be tricky to prove exactly how much money you make, especially if it is coming from different sources. Having good records will make it easier to prove your income when it comes time to get a self employment homeloan.

When all Else Fails….

Even with the above steps, you may still find it difficult to get a home loan. Don’t give up hope. A traditional loan may not work for you, but there are many other types of loans that can help you. Find a private mortgage broker or lender to find the self employment home loan that you need. A few types of loans that can help you are:

1.       A traditional loan from a non-traditional lender. A private lender can often give out 30 year fixed mortgages to borrowers that would otherwise be turned away by banks. Be aware that you will most likely pay a higher interest rate but this is often worth it in the long run.

2.       Hard money loans and private collateral loans. Private lenders have access to different types of loans and funding that banks do. You can take advantage of their private collateral self employment home loans that can work to your benefit.

3.       Stated income mortgage. These fell out of vogue with banks during the housing crash but may still be available with a private lender. There is less paperwork and your income does not require as stringent of verification, making it ideal if your record keeping is less than perfect.

Find a private broker or lender today to learn more about all of the benefits of a self employment home loan.

Call us a Level 4 Funding today to discuss your home loan options. We can help you get the loan you need with the terms you deserve. Don’t let being self-employed hold you back. We can help!

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

  

How to Use an Arizona Bridge Loan to Make Your Dreams Come True

 If you are trying to buy and sell a home at the same time, an Arizona bridge loan can be a valuable tool to have. This type of short term learn can help make sure that you get your dream home with very few risks.

An Arizona bridge loan is a specialized short term loan that can be useful for real estate transactions. It is a short term loan that allows you to use the equity in your current home as a down payment on a new home before your current home sells. As the name implies, an Arizona bridge loan is designed to “bridge” the gap by giving you funds for a down payment. The loan is paid back with the proceeds from you home sale.

An Arizona bridge loan is a valuable tool because most buyers rely on the sale of their current home to come up with the down payment for their new home, however, it is not always feasible or ideal to close on the current home first. In a perfect world, you close on your home in the morning, have funds available by noon and close on your second home before the business day is over. But it very rarely works this way. More often, you close on your current home and have to find a short term rental for a month or two before you close on a new home. This is not only expensive, but it causes you to have to move twice and you are literally throwing money away by renting.

One solution to the problem is an Arizona bridge loan. A bridge loan bridges the gap by lending you the down payment for a new home that you then pay back once your home sells. The bridge loan is secured to the buyer's existing home. The funds from the bridge loan are then used as a down payment on the new home. Bridge loans are gaining in popularity as a down payment option because they offer flexible terms and are relatively easy to qualify for. Also, many lenders will not allow you to take out a home equity loan on a home that is listed for sale, so in many cases a bridge loan is the only option to come up with cash for a down payment.

7 Things to Consider if You are Thinking About an Arizona Bridge Loan

Like any loan, a bridge loan has certain risks and benefits. Knowing all your options and going into it fully informed will help you risk less and benefit more. Here are five important things to keep in mind if you are thinking about getting an Arizona bridge loan.

     1.     You will pay a higher interest rate. Like many short term loans, bridge loans have higher interest rates than 30 year loans. You usually have a grace period of 1 to 4 months depending on your loan terms and if you pay the loan back with proceeds from your home sale, you can usually avoid paying a lot of interest.

     2.   Qualification is usually an easy and painless process. Most lenders do not have set FICO scores or debt to income ratios for bridge loans. Instead, qualification is based on a complete picture of your finances and whether it makes sense to purchase a home before you sell your current one.

3.       A bridge loan can save you money. If you wait to purchase your new home until your old home sells, you may end up needing a short term rental. This is literally throwing money down the drain. Getting the right Arizona bridge loan and selling your current home quickly can actually save you quite a bit of money.

4.       There will be fees. An Arizona bridge loan has several fees associated with it. You will pay an administration fee of about $750 and an appraisal fee on your current home to ensure it is worth what you need to sell it for. In addition, you will pay wire fees, origination fees, and points which will be dependent on the amount of your loan. When all is said and done you will probably end up paying about $2,000 to secure your bridge loan.

5.       You can find your new dream home without the stress of having to sell your existing home first. You don’t have to wait or make unattractive contingency offers. You can purchase your new home immediately which will usually get you a better price and help make sure you get the home you want.

6.       You have to be able to qualify for two mortgages. A bridge loan can help you with a down payment, but you will still need to qualify for two mortgages and be able to make monthly payments on both if push comes to shove. However, most mortgages don’t require a payment for the first month so if you sell your home quickly, you can usually avoid double payments.

7.       A bridge loan can cause stress. If your current home does not sell quickly, you will end up paying the mortgage on it, the mortgage on your new home, and the payment on your bridge loan. Make sure to carefully evaluate your finances to ensure that you can make your payments for a short time if you need to. You can also help eliminate financial stress by pricing your current home to sell quickly.

Once you have evaluated the pros and cons of an Arizonabridge loan, contact the financial professionals at Level 4 Funding to get your application started!

The sooner you apply for your bridge loan, the sooner you can get cash in hand for your down payment. Don’t let your dream home slip away because you are waiting for your current home to sell. Find out the benefits of bridge loans today! 

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

  

5 Things You Need to Know About an Arizona Bridge Loan

An Arizona bridge loan is a special type of short term loan that can help you buy a new home. It is important that you know your options and fully understand the terms of your loan to make an informed decision.

An Arizona bridge loan is a specialized short term loan that can be useful for real estate transactions. It is a short term loan that allows you to use the equity in your current home as a down payment on a new home before your current home sells. As the name implies, an Arizona bridge loan is designed to “bridge” the gap by giving you funds for a down payment. The loan is paid back with the proceeds from you home sale.

A bridge loan can be very beneficial in many ways because it allows you to buy a new home and put yours on the market without any restrictions. When you are living in a home while you are trying to sell it, scheduling showings can be a nightmare, especially if you have pets or kids. It is also difficult to keep your home show ready and leave at a moment’s notice. Many buyers will also have trouble picturing themselves in your home while your stuff is there. A bridge loan can allow you buy another home while yours is still on the market by fronting you the down payment.

An additional benefit of a bridge loan is that it is relatively easy to qualify for. There is not a lot of paperwork and since many borrowers will have a high debt to income ratio because they own two homes for a short period of time, debt and credit scores are not as important as they are in traditional loans.

Important Things to Consider when Thinking About an Arizona Bridge Loan

If an Arizona bridge loan sounds like it might be a good option for you, it is important to know all of the risks and benefits and know the ins and outs of your loan terms. Make sure you are in the driver’s seat and in control of your loan at all times. Here are a few things to keep in mind.

1.       An Arizona bridge loan may have a high interest rate. Since a bridge loan is a short term loan and is secured by the sale of your current home, the lender is taking a fairly significant risk in extending you the credit. The more risky the loan, the higher the interest rate. Although interest rates do fluctuate, you can expect to pay more than the prime rate and your rate could climb as high as the double digits.

2.       You can avoid paying interest. Although the loan itself has a high interest rate, shopping around for the right loan can help you avoid paying any interest at all. Many bridge loans allow you to skip the first few months of payments. If you can sell your home during this time period, you can pay the loan back before any interest accrues.

3.       There will be fees. An Arizona bridge loan has several fees associated with it. You will pay an administration fee of about $750 and an appraisal fee on your current home to ensure it is worth what you need to sell it for. In addition, you will pay wire fees, origination fees, and points which will be dependent on the amount of your loan. When all is said and done you will probably end up paying about $2,000 to secure your bridge loan. For most borrowers this is well worth it to get them into their new home sooner rather than later. Also, keep in mind that the fees will vary depending on your lender so shop around.

4.       A bridge loan can cause stress. If your current home does not sell quickly, you will end up paying the mortgage on it, the mortgage on your new home, and the payment on your bridge loan. Make sure to carefully evaluate your finances to ensure that you can make your payments for a short time if you need to. You can also help eliminate financial stress by pricing your current home to sell quickly.

5.       A bridge loan can save you money. If you wait to purchase your new home until your old home sells, you may end up needing a short term rental. This is literally throwing money down the drain. Getting the right Arizona bridge loan and selling your current home quickly can actually save you quite a bit of money.

If an Arizona bridge loan sounds like a good option for you, start looking at your options today!

An Arizona mortgage broker or private lender can help you get started on getting your bridge loan. Call our office today to schedule an appointment. You will be glad you did!

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

  

Risk Less by Choosing the Right Lender for Your Self Employment Home Loan

If you own your own business, you may find that you have trouble getting a home loan due to strict debt to income ratios and other regulations imposed by banks. There are self employment home loans that can make getting a home loan easier. Choosing the right lender or mortgage broker can make all the difference and help make your home ownership dreams a reality.

Owning your own business has many advantages. For one, you get to be your own boss and set your own schedule. You also have the opportunity to do exactly what you want to do and grow your business in a way that makes sense for you and your family. You are not a slave to the time clock and you don’t have to deal with a domineering boss breathing down your neck. You also can take advantage of many tax write offs and can pay yourself what you are worth.

However, there can also be a downside to being self-employed, especially when it comes to qualifying for a home loan. Tax deductions can make it look like you are losing money when in fact your business is quite successful. Business loans or other debt can make your debt to income ratio look very high and having a number of business loans may even end up taking a toll on your credit. Rigid lending standards can cause banks to take one look at your tax returns and send you out the door so fast your head will spin.

This can be very disheartening. You have spent your life building a successful business, but the very elements that make you successful make you look like a lending liability. Even if you have a steady stream of income, it may be difficult to verify using traditional lending standards and the situation may seem hopeless. But, don’t fret. There are many, many options for self employment home loans and many lenders who can help you find the home loan that you need.

4 Benefits of Using a Private Lender for your Self Employment Home Loan

If you find yourself in the unfortunate situation of being denied by a bank, start thinking about a private lender. A private lender is a mortgage broker or investment firm that has access to private funds and collateral that can be used to fund a self employment home loan. A private lender is licensed by the state that he works in and still must adhere to federal fair lending practices and guidelines. This is good news for you because it provides protection for your investment and recourse if you feel you have been treated unfairly.

There are many benefits to using a private lender compared to a bank. Here are four of the most common benefits that a private lender can offer.

1.       Easier qualification process. Since private loans are funded by investors, there are less stringent qualification requirements. This means that bad credit, high debt to income ratios due to business loans or tax deductions, or even previous foreclosures or business failures matter much less. A private lender is more likely to look at your entire financial pictures as well as the potential to make money on an investment property than a bank is. This makes getting a loan easier. Also, there is a lot less paperwork which can be a huge bonus for the busy business owner.

2.       Faster qualification process. A bank can take 30 to 45 days and in some cases even more to fund a loan. With a private lender, the process can take as little as a week. This is great news if you want to buy a property quickly or want to make your offer stand out in a bidding war. Often sellers will take a lower offer with a faster close time to unload the property quickly.

3.       Investment opportunities. Private lenders and private self employment home loans are often tailored for investment properties. As a business person, you know the value of real estate investing and can take advantage of a private lending firm.

4.       A private lender has access to loans that banks do not. From hard money loans to other private collateral loans, a private lender can find the right loan for you.

Don’t delay, act today!

Find a private mortgage lender to get started on your self employment home loan. You will be glad you did!

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

  

How to Use Arizona Bridge Loans to Benefit your Small Business

Arizona bridge loans are gaining popularity in the housing market as a way to bridge the down payment gap and allow buyers to purchase a new home before selling their current home. They are also a valuable tool for small business owners to get cash quickly based on business collateral and upcoming deals.

Arizona bridge loans are short term loans that are designed to bridge the gap between needing liquid cash and a future investment paying off. The most common use of Arizona bridge loans are during the home buying process to bridge the gap between needing a down payment for a new home and selling a current home. The bridge loan is secured to the original home, the one that's on the market. The funds from that loan are used as the down payment for the mortgage on the new home. 

There are no strict guidelines when it comes to Arizona bridge loans so credit score and debt to income ratio are not usually factors that will automatically disqualify you. This is good news for borrowers with less than stellar credit or who may have a high debt to income ratio once they purchase their new home. Instead, bridge loans are based on a few different factors, including how likely it is that you will sell your current home quickly, and whether or not you can make both mortgage payments for a short time if it becomes necessary. If you default on a bridge loan, the lender has recourse to get their money back using the property you have on the market because it is the one that secured the loan.

A bridge loan can be a good option for individual borrowers who want to purchase their next dream home but have not sold their current home. A bridge loan usually has a higher interest rate but certain loans allow you to skip payments, making it unlikely that you will have to pay any of the interest as long as you sell your home quickly. A bridge loan also allows you to put your home on the market quickly and without any schedule restrictions. You can even stage it to make it sell more quickly. A vacant home will usually sell more quickly and for top dollar so a bridge loan can help you earn more money on your home sale.

How to Use Arizona Bridge Loans as a Business Owner

A less common but still beneficial use of Arizona bridge loans is to help your small business when you are strapped for cash. Sooner or later most business experience a cash flow issue. A bridge loan can help "bridge" the gap between today's need for immediate cash to pay bills and the final closing of a pending investment deal or long-term financing package.

If you find that you need some immediate cash before a big deal pays out, a bridge loan can be a good solution for your business. In order to secure the loan you will need to prove your ability to pay the loan back. A few ways to do that is through:

·       Earnings. It is possible that a lender may be willing to extend a bridge loan on the basis of earnings alone. You will need to have a stellar credit history, a consistent track record of making profits, and strong sales to show you can repay the loan in a short amount of time. Unless you are able to fulfill all of these requirements, you will need to find another way to obtain financing. ·       Collateral. If your earnings aren’t up to par, you can use business assets as collateral to obtain a bridge loan. Equipment, real estate, and other capital assets can all be used to secure a bridge loan. Contact a broker or investment professional to get started on finding the best bridgeloan for your business today! A broker can help you navigate the ins and outs of Arizona bridge loans whether you need one for business or real estate. Having the right financial professional by your side can help you risk less and benefit more. You can get the cash you need and help protect your current assets. Call our office today for more information on   Arizona bridge loans.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027