Best West Direct: Loans from Residential Arizona Hard Money Lenders

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Tuesday, December 31, 2019

Loans from Residential Arizona Hard Money Lenders

Securing a loan from a bank can be impossible if you have rotten credit. But if you need money fast there are alternative sources you can go to, such as private investors that lend hard money.

Going to the bank for a loan can be intimidating. They have high standards and strict qualifications. Someone with imperfect credit history may not even make it to the bank. If you know your financial history isn’t up to par for public lenders, perhaps your situation lends itself to private investors, like local companies that offer hard money.

Residential Arizona Hard Money Lenders are local, private companies who can offer flexible relationships for people with low credit scores. They offer individualized, transparent relationships that generally lend themselves to easy approval. Their flexibility is often unmatched by banks. Banks tend to focus solely on your debt to income ratio and credit score before approving a loan, while Arizona Hard Money Lenders focus on the property’s collateral. The property’s value, or potential in cases of fixer uppers, are the driving force behind acceptance and rejection.

Unlike banks, Arizona Hard Money Lenders offer the benefits of speed. Because they can begin the loan process quite quickly, people working to prevent a foreclosure, bidding in a competitive real estate market, or renovating in a fast-paced environment find private lenders appealing. Banks can take as long as a month or more to get the process started—and that’s if you even meet their qualifications.

Things to Consider for a Hard Money Loan

Residential Arizona Hard Money Lenders often have high interest rates and fees because of the “risks” they are taking with the borrower. While they can usually provide money for you fast, they also have high rates. Depending on your situation, this may not be ideal for you. Additionally, they have short repayment periods. For experienced people working on fixer uppers, this can be perfect. Renovating the home successfully followed by a quick resale make for an easy payback period. However, a short repayment period may not accommodate everyone’s plans well. If the bank rejected your loan because of your debt to income ratio, it’s possible that a short repayment period may not make for the best financial situation for you.

Borrowing Successfully

The short repayment period and high rates are the biggest drawbacks of residential Arizona Hard Money Lenders. Of course, the decision on whether or not to move forward depends on your personal situation, and ultimate plans for the property. Researching your hard money lender will also be important. Arizona Hard Money Lenders are common and referred to people often, but not all hard money loan agencies are legitimate. Real estate attorneys are great sources to help confirm the reliability of your lender, or to help you understand the complete loan agreements. Some lenders may be legitimate, but have hidden fees within the contract of the loan. Analysis and evaluation of both yourself and the lender will lead to success. Borrowing successfully is possible, but is tailored to each individual. Be sure to know your situation well before making any decisions.

          
                                                      

                                                                                                                                         Dennis Dahlber Broker Ri CEO Level 4 Funding LLC

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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