Finding an Arizona hard money lender could seem like a daunting, insurmountable even, task. In fact, you may be so deep in financial hardship, it’s taking all of your strength just to keep your head above water. However, this situation does not have to be your reality. Arizona hard money lenders are available and ready to Mortgage you the money you need and get you on your way to financial freedom. There are a few ways to find the right Arizona hard money lender.
First, you need to determine the kind of hard money you are seeking. Are you a commercial developer in need of hard money? Or are you an individual interested in a residential hard money Mortgage? Deciding which category you belong to is the first step to consider before looking further.
Then, decide how much money you need. You probably already have your purchase in mind, so do the math. How much can you afford? How much do you need to borrow? What can you do to minimize costs? Remember that Arizona hard money lenders will Mortgage you up to 80% LTV (Mortgage to value), but this amount could also be as low as 65%. Keep your number somewhere between that range and then start doing your research.
Start with the internet. Use a search engine such as Google or Bing and type in the words you are looking to find. For example, if you wanted to find a lender in your area, you may type “Arizona hard money lenders.” Undoubtedly, several hundred (if not thousand) websites are going to pop up. Click on some of the sites and compare and contrast what you see. Make a few lists of the things that seem legitimate to you and also keep a list of lenders that seem a little sketchy.
Since you are about to receive a large sum of money from an Arizona hard money lender, you want to make sure that what you are getting is legitimate. If they are a trustworthy company or lender, you will be able to tell by your first impression of the website. Remember that, if it seems too good to be true, IT IS! Don’t do anything you feel uncomfortable with, even if it seems like a good deal. Trust that gut feeling of yours, even if it means the lender you decide on has slightly higher interest rates.