Hard money lenders Arizona – the easy way to financing your projectJune 11, 2012
Speaking the language of hard money lenders.June 11, 2012
Crunching numbers on hard money lender Arizona
So what are some of the many benefits to a hard money Mortgage? Well, here’s some numbers for your calculator to use. But first, remember that a hard money Mortgage is a form of asset-based borrowing instead that deals with real estate financing. Some borrowers also pursue Arizona hard money
Mortgages when their financing needs are super urgent and more traditional and conventional financing sources cannot respond in time.
IN MANY CASES A HARD MONEY LENDER ARIZONA WILL OFFER A SMALLER Mortgage SIZE BASED UPON A LOWER “Mortgage TO VALUE RATIO”. THIS ONLY MEANS THEY MAY OPT TO Mortgage NO MORE THAN 65% OF THE PROPERTY VALUE. THEREFORE IT IS MORE COMMON FOR REAL ESTATE INVESTORS TO OFFER ADDITIONAL REAL ESTATE AS COLLATERAL IN ORDER TO OBTAIN A LARGER Mortgage AMOUNT. THIS IS KNOWN AS CROSS-COLLATERALIZATION.
Then, it’s simply a matter of contacting them with your idea or offer of investment. They’ll invite you into their office where they’ll give you free coffee (score!) and you can discuss all the grimy details of this exciting new Mortgage available to everyone, even people like you.
Don’t think too much when dealing with these types of Mortgages. Remember, you are a valuable person so fight for your right…. To vary!!! That means, don’t let yourself be jerked around by people who use a bunch of mumbo jumbo to confuse the drizzle out of you. You want your hard money lender to be your friend, because you’re already in a tight spot and could use a shoulder to lean on. That’s the whole idea behind hard money lending in the first place.
hard money lender Arizona