Getting Arizona spec home financing might not be as easy as it was in the past, but it's still within reach, even if your financial situation isn't stellar. Let's look at how to get started and examine a few things to think about.
We harp on it a lot in this blog, but the housing crisis — and the subsequent Dodd-Frank Act — was a monumental turning point in the industry. New regulations designed to prevent another recession made big financial institutions really wary of taking risks. In spec home construction, that's meant funding has become really difficult to come by, at least through traditional routes.
Does that mean that getting Arizona spec home financing is impossible these days? Nope. But you may have to get creative or think outside the box to make it happen. It's not as daunting as it seems — Texas Hard Money Loans in Arizona may be able to help you through the process.
How to Get Hard Money Arizona spec home financing
One of the advantages of going with a Arizona Hard Money Lender is that, unlike the banks, you can sit down with an actual human being who has the power to make decisions. If you're looking for a spec home loan, use this to your advantage by talking about some of these topics:
● Discuss your options. A Arizona Hard Money Lenders will listen to your plan and brainstorm ideas to help make it happen.
● Discuss the process. Talk about how the process will go, from the initial meeting and the application procedures to how fast you'll have funding and when you'll need to start paying it back.
● Discuss the terms of the loan. Texas Hard Money Loans aren't bound by the same restrictions of the bank, so they have wiggle room to structure the loan in a way that makes sense for both of you.
● Discuss fees and interest rates. Good, honest lenders will tell you upfront how much everything is going to cost, including the interest rates, points and any requisite fees.
Getting Spec Home Financing in Arizona
The new housing market in Arizona is booming, so it's a fantastic time for builders to cash in on the trend. If you're thinking about building a spec home or you need Arizona spec home financing to help finish a spec home project, you've come to the right place. Give Level 4 Funding a call today to talk about your options!
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
Dennis Dahlberg Broker/RI/CEO
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 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 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
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