Arizona hard money lenders are unique.
When you and your spouse decide to purchase a home, you are taking one of the biggest risks of your lives. Of course, if you live within your means and keep a strict budget then this would help you breathe a little easier. But, there are times where money becomes tight even when you are wise with your finances. Sometimes people have to file for bankruptcy and have their house foreclosed due to unlucky conditions whether it comes from losing a job, hard economical times, or got in a bad accident. But thank goodness for Arizona hard money lenders.
They can help you when you are falling behind on your mortgage by providing you a way to avoid bankruptcy.
They provide short term Mortgages (3-36 months) to those who are in need of help with their finances. Hard money companies are lenders who offer a specialized type of real-estate Mortgages. Hard money lenders generally have much higher interest rates than banks because they fund deals that do not conform to bank standards.
The last thing that we would want to do is go into foreclosure, or into big debt that seems overwhelming. One of the hardest things to overcome when faced with an obstacle such as this is to wonder how you are going to become free from the debt. Just because your past has been full of financial troubles, it doesn’t mean that your financial future is in a crisis. There is help. An Arizona hard money lender can give you the quick Mortgage you need to avoid bankruptcy and other troubles. Banks will always look at your credit score, credit history, and other components of your finances to give you a Mortgage, but a hard money lender will not even look at either of those options.
Arizona hard money lenders are with YOU.
As I had mentioned before, Arizona hard money lenders will go where no bank would even consider. Rather, they are on your side. They understand your situation and will do everything in their power to see that you are rewarded a Mortgage for a home or project you want. Most Arizona hard money lenders Mortgage money for buying a foreclosed or short saled home, home projects, or any other type of property or real estate investments.
The interest rates for most hard money lenders are higher than banks because they are taking a higher risk on you. But the good part about Arizona hard money lenders is that the Mortgage period is generally a lot shorter than banks. They average anywhere from 3-36 months. Remember that Arizona hard money lenders will often approve you for a Mortgage of up to 80% of the property’s value (though this number is usually closer to 60%) in as little as 24 hours.