Be Sure to Know the Terms of Your Arizona Hard Money Lenders
It is good to know what the terms are when dealing with an Arizona hard money lender so you can find the one that will fit your needs. Here are some of the terms you can expect to see from many Arizona hard money lenders. Typically they will only loan you up to 70% ARV (after repaired value). This means that a hard money lender can loan you up to 70% of what the home is worth in repaired condition. So if you find a home worth $45,000 in the condition it’s in, and needs $20,000 in repair work, and after it is repaired the current fair market value is worth $100,000, then typically they can lend you up to $70,000, which would cover the cost of the house and the repairs.
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