Owner Occupied Borrowers Can Get a Private Hard Money Loan From Lenders

Welcome we offer Private Hard Money Owner Occupied Loans in Arizona up to 80% LTV.  Our Arizona owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Arizona

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Arizona, making real estate loans to both Investors & Owner Occupants in Arizona.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in Arizona.

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Arizona, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Arizona Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component.

Dennis Dahlberg
Broker/RI/CEO/MLO
Applewood Funding  Private Hard Money Lender
Arizona Office:  (623) 582-4444
dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

The Benefits of Hard Money Loans Arizona

Hard money loans are not as intimidating as many borrowers have come to believe. Understanding the benefits of hard money loans Arizona will clarify why they are a very useful financial tool.

Many borrowers view hard money loans Arizona as some type of shady deal that operates on the fringe of the legitimate lending world. But nothing could be further from the truth. Hard money loans are a completely legitimate and legal way to seek funding when a traditional lender or bank is not able to meet your needs. In addition, there are a number of benefits that are specific to a hard money loan.

Time can be an investor’s greatest enemy when a deal needs to move quickly to avoid a lost opportunity. Completing a tradition loan application can take days and then there can be weeks or even months of waiting to receive a final decision. All of this time is an open door for another investor or buyer to swoop in and steal a deal. But the process of applying for hard money loans Arizona is much faster. This is because the lender is really only interested in the current market value of the collateral being used for the loan. The lender is not going to do a deep dive into the borrowers business or personal finances to determine creditworthiness and debt load. So a simple property appraisal and evaluation can be completed very quickly in comparison.

In addition to the fast turnaround for funding, the other terms of hard money loans Arizona are also more favorable to many borrowers. Unlike the long terms of a traditional loan, hard money loans can offer terms as short as three months or as long as two to five years. This flexibility is perfect for the investor or flipper who is going to purchase, renovate and resell quickly. Builders are also fond of these terms as it allow time to build on a piece of property and then sell within the year and move on to the next project.

Credit is Not an Issue

The final benefit is to those borrowers who have no credit or less than perfect credit. Having no credit is almost as bad as having bad credit. But in the case of a hard money lender, neither of these issues is a deal breaker. The lender is only going to look at the value of the collateral to determine if he or she is willing to fund the loan. Credit is not going to be an issue, so hard money loans offer an opportunity to many borrowers who just don’t meet the high standards of the traditional lenders.

A Financial Tool

There is no one all-purpose tool for everything and finance is the same concept. Not everyone can meet the criteria for a traditional loan nor can they wait for a bank to approve the long form application. In some cases, a hard money loan is just simply a better option than a traditional loan.

 

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Office:  (623) 582-4444
dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

Private Hard Money for Owner Occupied Borrowers in Phoenix

Welcome we offer Private Hard Money Owner Occupied Loans in Phoenix up to 80% LTV.

Our Phoenix owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Phoenix

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Phoenix, making real estate loans to both Investors & Owner Occupants in Phoenix.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in .Phoenix

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Phoenix, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Phoenix Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Phoenix Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component.

Tips for Success When Considering Hard Money Loans Arizona

Every industry has its good and bad participants and hard money lending is no exception. But following a few tips can help to ensure success when seeking hard money loans Arizona.

As with any loan, careful evaluations should be completed for each lender and the terms for all hard money loans Arizona. If you are not familiar with the process or the loan documentation it is always a good idea to have your lawyer review any documents before you sign them because a hard money loan document is legally binding. In addition, there are a few other tips that can help you to ensure that your entire loan application and funding process goes smoothly.

There can be a few legitimate upfront fees that a borrower is asked to pay when requesting hard money loans Arizona. But be cautious of any extremely large fees that you are presented with prior to being approved for the loan. In most cases, these fees are being charged by a third party or a “broker” who is not actually the lender but is trying to get a fee and masquerade as a lender. Not only is there a good chance that you will not get funding from this person but there is also a good chance that they will sell your identity or personal information to others for an additional profit at your expense.

When you are presenting information to a potential lender, assume that they will find out any “little secret” that you might know about the property. Do not try to hide information about the title, tax liens or any issues that could become a problem in the future. A lender is going to fully investigate the property and will not look kindly on any borrower who has attempted to be dishonest or take advantage of them.

Know the Current Rates

Not all lenders are dishonest just like not all used car dealers are dishonest. But that are a few in every crowd. So be sure that you have polled several lenders and are well aware of the current rates and terms for hard money loans Arizona. This will let you know immediately if a lender is trying to take advantage of you and you can cease the relationship immediately.

As for A Detailed Fee Breakdown

In the end, all you are really shopping for is the loan with the best overall cost to you. So it only makes sense to clearly ask for a list of all of the fees and costs that you will be paying for the use of the lenders money. Having this clear list of the total cost will allow you to easily compare all of your offers without having to sort through various terms and jargon that can be a part of a loan document.

Using these few tips will help you to more easily determine which hard money loan is the least expensive and will allow you to get the best return on your investment.

Private Hard Money for Owner Occupied Borrowers in Phoenix

Welcome we offer Private Hard Money Owner Occupied Loans in Phoenix up to 80% LTV.

Our Phoenix owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Phoenix

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Phoenix, making real estate loans to both Investors & Owner Occupants in Phoenix.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in .Phoenix

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Phoenix, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Phoenix Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Phoenix Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component.

Advantages of Hard Money Loans Arizona

It is true that hard money loans cost more in interest and fees than most traditional loans. But there are several advantages of using hard money loans Arizona.

Most borrowers are focused on trying to find the most affordable lender when they are seeking a loan. And thinking along those lines is likely to keep many borrowers from taking advantage of all of the benefits of hard money loans Arizona. But investing just a few minutes in exploring the advantages of hard money loans could easily change some borrower’s opinion of hard money loans Arizona.

As a business person, your time is very valuable. And hours spent completing traditional loan applications are costing you money. The time could be better spent managing and growing your business. The much simpler application process of hard money loans Arizona is a great way to save yourself time and the stress that is associated with completing forms and compiling bank statements and other documentation.

Another advantage of hard money loans is the fact that you will not need to submit your personal banking and financial statements to the hard money lender as you would if working with a bank. Traditional lenders are interested in business creditworthiness and financial health as well as the personal financial situation of each owner of the business. However, a hard money lender is only focusing on the current market value of the property which will be the collateral for the loan.

Self-Employment is Not an Issue

Many banks and traditional lenders have very specific criteria for funding a loan when the borrower is self-employed. This can make it even harder than normal for a borrower to qualify for a loan. But a hard money lender does not see self-employment as a negative. And in some cases they prefer it as it shows initiative and the desire to commit to hard work to become successful.

Used Correctly Hard Money Is a Great Tool

Hard money loans are not the perfect solution for every borrower. If you are looking for a long term loan, or if you need to borrow the entire purchase price of a property, then hard money lenders will be of no help to you. But if you are looking for a short term loan that can be funded quickly, then hard money is for you. The application process is much less lengthy and the criteria for approval is related more to the actual current market value of the property than it is your credit score. So borrowers with poor credit or no credit will have a fair opportunity to secure a hard money loan.

Not only is applying to many banks time consuming but it is also humiliating to be turned down time after time. But you can avoid the embarrassment and the wasted time by presenting your request to a reputable hard money lender. With a solid plan to purchase and resell for a profit, you have a higher than average chance of getting the funding that you need from a hard money lender.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com 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 45 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.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

The Best Time to Use Hard Money Lenders Arizona

Not every real estate transaction is tailored to a traditional loan. In some cases hard money lenders Arizona is the only choice to meet the terms of a great deal.

There are many moving parts in most real estate investment deals. You might be facing a very small window of opportunity to make the purchase or you might not have the cash on hand to complete the deal. You might even want to hold onto your cash to complete the renovations needed to quickly sell and turn a profit on a property. But whatever challenge cannot be met by a traditional lender, hard money lenders Arizona is probably going to be able to accommodate.

Banks and mortgage companies have a specific process that they must follow for each loan application. And there is a certain amount of time that this process is going to require. So if you have just a few days to raise the funds for a great investment property, a traditional lender is not going to be of much help to you. But hard money lenders Arizona offer a legitimate means of raising the capital that you need quickly.

Sometimes, timing can be an issue not because you need the money very quickly but because you have just completed the purchase of another property. In many cases, you do not have the available credit to make an additional purchase. But a hard money lenders Arizona will only be considering the current market value of the property being used as collateral and not your current debt load. This will allow you to make the additional purchase and not miss out on a great opportunity just due to poor timing.

A Unique Opportunity

Not every real estate investment is a simple case of buying low and selling for a profit. In some cases, the buyer needs to be a visionary who can see the very obscure potential in a property. If this is the case, a bank is not likely to be willing to write a loan for the property. The risk involved will be higher than a traditional lender is willing to assume. But a creative real estate investor will know that a hard money lender will fund the loan. Yes, the risk is high but the opportunity for reward on these types of deals is also high.

Non-Traditional Circumstances

Hard money loans do cost a borrower more in interest and in points. But when a great opportunity presents itself, it can be worth spending a little bit more to make a great deal more in the long run. When you need to process a loan quickly, or have already maxed out your line of credit with a bank, a hard money lender could be your only choice to land a great deal. Hard money lenders are also a good choice when the property is going to require some vision to increase the value and banks are not willing to take the necessary risk.