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Monday, December 31, 2012

Begin the Arizona Hard Money Process Today

The Timeline of Arizona Hard Money

Like we have mentioned in so many of our previous posts, no two Arizona hard money loans are alike. That’s the beauty of hard money—it is based on you. Your hard money lender will work with you to ensure the lowest rates possible, but there are really no across the board answers on hard money loans.

However, many of you are asking about the timeline to expect on Arizona hard money. Undoubtedly, the sooner you get your money, the happier you will be. But what can you expect from your lending institution? How soon is too soon and how long is too long to wait?

One of the most important things before making a loan application is to have the property under contract.  It’s really hard to get financing on something, which is not under contract.

Begin the Arizona Hard Money Process Today

If you get started today, you could have your money tomorrow. It’s entirely possible and it happens all the time. Again, that is not the case for all Arizona hard money loans. The whole process starts with you getting the ball rolling.

Many lending institutions will require you to fill out a loan application right away. At Level Four Funding, we try to keep the paperwork to a minimum so we don’t do that. The first step is for you to contact us and tell us your information.

Then, we take a look at the property you are looking to take out a loan on. We may send evaluators out to look at the property, or we may just go with the information you provide us. We need to know the value of the property in order to provide any sort of funding. Believe it or not, we can get you your loan approval within thirty minutes and your funding within 24 hours. This is significantly faster than most lending institutions, and that is because we have an entire team of professionals and experts working to approve you today.

All in all, the process could take up to a few days, but no longer than a week. Don’t stress if yours takes a bit longer—that certainly doesn’t mean you are going to be denied Arizona hard money.

Reasons Hard Money Lenders in Arizona Might be Rejecting You

Are Hard Money Lenders in Arizona Turning You Down?

If you have done your research and have decided to pursue a hard money loan, getting approved should be no problem. However, sometimes it is; and that can be truly disheartening. But, don’t give up! There are ways for you to adjust your approach and get the money you need.
First, you need to keep your deals at our below 65% LTV. That means that you are not asking for an amount that is more than 65% of the property’s value. But, that’s not all there is to it. So much more goes into hard money lenders in Arizona decision than you even know.

Often, it is not just the dollar amount that matters. While it is important to keep that LTV at a reasonable amount, keep in mind that many lending institutions send out evaluators and appraisers to inspect properties on their own terms. It’s not that they don’t trust you or your appraiser’s judgment, they often just need to see it for themselves before making their decisions.

Reasons Hard Money Lenders in Arizona Might be Rejecting You

Like I mentioned before, it’s a tough situation to be in when you feel that your hard money lender is being harsh on you and unforgiving to your circumstances. However, they are trying their best to work with you, but are taking such a significant risk in loaning to you, that they have to protect their assets as well.

One thing hard money lenders in Arizona tend to shy away from is sketchy neighborhoods. This is true for fix and flip loans and investment loans. Several factors are taken into account when assessing a neighborhood: crime rates, cleanliness, the real estate market in that area, percentage of ownership vs. rental, etc. Don’t plan on  getting a large loan to fix up a mansion in the ghetto. It just won’t work.
Hard money lenders in Arizona want to see a return on their investment. That’s why they’re in the business in the first place; makes sense, doesn’t it? The funds available for these loans come from private investors looking to make a profit on the money they aren’t needing at the time. They need to know you can pay; if you can’t, you may not get approved.

Hard money lenders in Arizona are there to help you out, so understand their risk, do your research, and keep pursuing your loan until it works out.

A Few Types of Arizona Hard Money

Is Arizona Hard Money Really “Hard”?

If you’re new to the money lending world, the term “hard money” might sound a bit intimidating. I can be the first to tell you that it’s really not. There is soft money and hard money in the world of loans, but without going into extensive detail, let’s just say the two are different. Arizona hard money is based upon hard assets. In all aspects, hard money is essentially the easiest to get approved for.

Arizona hard money loans are equity-based—so it’s about the assets, not your credit, income, or financial history. However, some hard money lenders will want more information about you; but, for the most part, they are more interested in the property you are looking to buy.

A Few Types of Arizona Hard Money

There are a few different types of Arizona hard money loans. First, there are commercial hard money loans. This is for commercial properties, not personal properties.
Then, there are business hard money loans. This is where the loan is based upon the hard assets of a business such as accounts receivables or cash flows.

The other (and perhaps most common) is residential hard money loans. These hard money loans are usually for individuals or families looking to fix up a property or purchase their dream home.
Keep in mind that an Arizona hard money loan is not a signature loan. (A loan without any assets whatsoever, but based on credit score, work history, income, etc.). If you’re looking for a signature loan, talk to your bank about that. The whole purpose of a hard money loan is asking for a loan based on the property you are looking to invest in.

That’s something that you should ask your bank to do and your bank is going to look at your credit, job history and all kinds of stuff and they are going to determine based upon you, not based upon your collateral because you don’t have any.

Talk to your nearest Arizona hard money representative to see if you qualify for this type of real estate loan today!

Sunday, December 30, 2012

The steps to attain an Arizona Hard Money loan are easy

Get approved today for an Arizona Hard Money loan

Do you have a bad credit history/score and can’t get a loan because of it? Well, don’t worry, I am sure you are not alone. Fortunately there is a solution to you and the millions of people who share the same problem. Have you ever heard of Hard money before? This term is also referred to as “Private Money” or “Equity Loans.” These type of loans are unlike your typical loan from the more traditional route of a bank, but they are from methods such as private sources such as investor's personal funds, pension plans and other non-traditional sources. Arizona hard money lenders are available to help.
What’s neat about these types of loans is that they are not based on your credit history, but rather on your equity. How awesome is that!

The steps to attain an Arizona Hard Money loan are easy

 As I had mentioned earlier, don’t worry about having a bad credit history. You won’t even have to wait that long to attain an Arizona hard money loan. The process of acquiring a loan is easy, really. The first step is to simply find and call a local Arizona hard money lender. After they get to know you and your situation, they will come out to your place and will evaluate your property to see how much it is worth. After they have compiled the information they need, they will get back with you in a matter of 30 minutes to tell you if you were approved or not. If so, there is some documentation needed to take care of by both parties, so plan on having your financial records handy nearby that is easily accessible. The faster you can have them filled out, the faster you will receive your loan you deserve. After all the paperwork is filled out, it takes less than 24 hours to receive your money.
Easy, right? This provides you a way to get your life back together and on track.  

Arizona hard money lenders are waiting for your command!

Saturday, December 29, 2012

Take advantage of hard money lenders in Arizona and apply today for a loan

Get big money through hard money lenders in Arizona.

If you are one of the thousands of Americans who are struggling to make payments for your mortgage, don’t stress too much. It’s not your fault, tragedies occur unexpectedly and often times at the wrong time. However, there is good news for you. You can attain a loan of money to help you get back on your feet through hard money lenders in Arizona. There are many lenders in Arizona that are waiting to hear from you! They understand what you are going through, and they derive satisfaction with helping you overcome your financial troubles.

Allow me to give you a brief definition of what hard money or “private money” is. This type of loan is derived from private sources such as investor's personal funds, pension plans, and other non-traditional sources. The best thing about hard money lenders in Arizona is that they don’t base your qualifications of getting a loan by your credit score/history, but by the value of your equity.

Take advantage of hard money lenders in Arizona and apply today for a loan.

Trust me, if you are going through financial difficulties, there is light at the end of the tunnel. You must never give up and hard money lenders in Arizona won’t let you give up. The process of being approved for a loan is rather simple. Just make sure to have your financial records handy. All you have to do is the following:

1-      Call a hard money lender in your local area and explain to them your intentions.
2-      Once a time is arranged, they will come to your property and will give you an evaluation. Within 30 minutes after they have evaluated your situation, they will have your answer for you.
3-      Once approved, there will be some paperwork to fill out. Make sure to have your financial records handy.
4-      After you have that taken care of, you will have your loan within a time period of 24 hours.
See how easy that is! Hard money lenders in Arizona are there when you need them and want you to succeed. Don’t wait until it is too late though, many people are seeking their help and funds go quickly.