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Showing posts with label Arizona home loan home loan Arizona Blog 17: Speaking with Your Mortgage Broker Arizona. Show all posts
Showing posts with label Arizona home loan home loan Arizona Blog 17: Speaking with Your Mortgage Broker Arizona. Show all posts

Saturday, June 2, 2018

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

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Tuesday, April 15, 2014

Hard Money Loans with Your Arizona Mortgage Broker

Are you trying to flip a house or a property but you don’t even know where to start getting the money? If you are worried because you don’t have the credit that you want or need, you don’t have to be. There are other alternatives that can help you. There is hope for those who have bad credit. That hope, and you can talk to your Arizona mortgage broker about it, is called a hard money loan 
A hard money loan might have a tough name, but it actually is going to be sweet for your property purchases. It’s true! These can really help you. Here’s why: a hard money loan isn’t like a traditional soft money loan that not only takes a long time to receive but makes you go through a lot of procedure to get it- if you even do! Many are denied a soft money loan because of their prior financial standings. Chances are you don’t want to be one of those people, so make an appointment to talk about your hard money loan to get that money and bypass that frustration.
Talk to your Arizona mortgage broker about hard money loan opportunities. This could be a great time to flip the house you want or purchase a property you need. A hard money loan is so much easier than your traditional loan and working with a private money lender will be much more pleasurable than working with a bank.
Consider this alternative to the soft money loan and you will have no regrets. The time is now to get your property purchases under control. Your Arizona mortgage broker wants to help you make the best decisions possible so make an appointment today to get the best possible hard money loan deal for you. 

Arizona Hard Money

Arizona Mortgage Broker

Private Hard Money Lender in Arizona
Big Daddy Dennis Hard Money Lender, Arizona Mortgage Broker
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC

Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027