Unless you are familiar with the benefits of hard money, you might not understand who uses hard money lenders in Arizona and why the relationship is beneficial to both the borrower and the lender.
Unfortunately, a great percentage of the population is unaware of what hard money is, who Arizona hard money lenders are and how they provide a very beneficial service to many borrowers. And a great deal of the confusion can likely be traced back to the term hard money. It seems to have a negative feel, that most people just can’t get past until they discover that it just means a loan that is not from a bank or other traditional lender. The term non-traditional loan would better represent the service that these lenders are providing to borrowers across the country.
While banks and mortgage companies come in small and large sizes but are pretty much the same in the mountains of rules, regulations and red tape, Arizona hard money lenders come in all shapes and sizes. A single person can provide hard money or it can be a group of individuals who work as a team to offer private loans. But the best part of borrowing from Arizona hard money lenders is that they are not bound up in all of the red tape that traditional lenders generate. They are free to set most of their own loan terms and practices as well as the process for loan applications and funding.
Banks and mortgage companies are forced to follow very strict federal regulations that detail pretty much everything that they can and cannot do. But each Arizona hard money lender is only governed by the state in which he or she operates. It is the Arizona Department of Finance who oversees the lenders and for that reason, someone in the firm or the actual hard money lender must hold a Real Estate Brokers License for each state that they do business in.
Who Uses Hard Money
Hard money loans are a great option for anyone in the real estate investment business who needs a loan quickly or needs to carry several loans on multiple properties. Because the property is the collateral for each loan, lenders are not against funding several hard money loans to an investor at one time, unlike a bank who will only issue based on what a credit score claims you can manage. Real estate flippers, investors, and even contractors use hard money loans all the time in their business and are very happy to pay the rate and fees that the private lender requires.
You Get What You Pay For
Borrowers understand that while a hard money loan might cost a little bit more than a bank loan, the benefits far outweigh those of a bank loan and are worth paying for. The lack of red tape, the simplicity in requesting and qualifying for the loan, and the flexibility of the loan terms make hard money very popular with investors and with consumers who have experienced credit issues in the past and do not yet qualify for a traditional bank loan.
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: 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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