Not all borrowing needs can be met by traditional lenders. For that reason, some borrowers will greatly benefit from understanding the best reasons to use Residential Hard Money Lenders in Arizona.
If you are facing a challenging financial situation, then you most likely already know that banks and other traditional lenders are often not willing to lend money to the borrowers who need it the most, or at the time that they need it the most. When this occurs, it is important for borrowers to understand the advantages of Residential Hard Money Lenders in Arizona and when it is appropriate to borrow from them.
There are many situations in life that all can result in a borrower having bad credit. In some cases, the borrower made some bad choices and is paying the price for poor choices. This could be getting too far in debt with credit cards and being forced to declare bankruptcy or spending more on a home than the borrower could really afford. But there are other cases where the borrower made no mistakes, he or she just got caught up in an unfortunate situation. This could be the loss of a job or getting laid off, a death in the family or even a serious illness that resulted in lost wages and a mountain of medical bills. But when you have issues with your credit, Residential Hard Money Lenders in Arizona might be your only option to get financing to purchase a home or an investment property.
Time is another huge benefit of hard money lending. If you are an investor and you find a great deal on a property, you don’t have time to wait 60 days for a bank to approve your loan. Or if you are facing a bidding war and the seller is looking for a fast-closing rather than getting top dollar, hard money will get you money in hand very quickly. In all of these cases, it is well worth the slightly higher cost of hard money to secure the purchase that will turn a great profit.
If you have fallen on hard times and are behind on mortgage payments, foreclosure is not far away. But you can avoid losing the property and crushing your credit by securing hard money to pay off your traditional mortgage. It is true that you will pay more interest to Residential Hard Money Lenders in Arizona, but that is a far better choice that the loss of the property, the equity that you have created and your personal credit. And once you have paid off the traditional loan and are back on your feet, you have the option to refinance the property with a traditional loan at a lower interest rate and pay off the hard money lender.
Hard money is a non-traditional resource, but it is one that works for many people who are in difficult situations. If you are faced with financial needs and cannot get the money that you need from a bank or mortgage company, then Arizona Hard Money Loans could be a very viable option for solving your issues.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
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 the Author: 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.