Hard Money Arizona

A hard money loan is normally view as a loan of “last resort”. This type of loan is first initiated when a borrower with bad or limited credit is unable to secure conventional financing and has no other alternatives but to turn to this type of lending. Another common scenario that also occurs is when the borrower needs turnaround financing in a shorter period of time than conventional financiers can provide, as with the case of foreclosures, loan restructures, bail outs or delinquencies.

Borrowers who require funding for property purchases that are non-conventional, as with land, property in extremely rural areas, land development, construction projects, and others, often find themselves in difficult situations when trying to obtain financing in the traditional manner. These individuals are often forced to look at hard money lenders. Furthermore, real estate investors are often in need of these types of loans because of the extremely short period of time before receiving funding.

The loan amount for the hard money and interest rate that is assessed in always based solely on the appraised value of the property in question. The borrower’s credit or other personal guarantees are never taken into account. The amount of the approved loan is always based upon the LTV (Loan to Value) ratio of the property in question. LTV’s in hard money loans are often significantly lower than that of conventional real estate loans. This is occasionally referred to as a “bridge loan”, a hard money loan that is necessary for short-term financing needs.

Companies or individuals who provide hard money loans are often private investors, or sometimes lenders themselves. As a result, the financial risk involved to them is often significantly higher than that of a traditional lender. To mitigate this risk, hard money lenders in Arizona charge higher interest rates for their services as well as other related fees (closing, appraisal, recording process, documentation preparation, etc…). Lenders will also offer loans amounts that are much lower LTV than conventional lenders. This LTV can be as low as 65% at times depending upon the appraised amount of the property in question. Furthermore, potential borrowers, are required to have substantial equity in the property being used as collateral. This is to ensure there is enough equity in the property should the loan default and the property go into foreclosure.

Hard money loans may seem like an unattractive solution to most with its low LTV’s, high interest rates and fees associated with them, but there are many situations where the benefit of having a quick turnaround time for funding and the elimination of credit worthiness that is required by traditional lending institutions.

As always with any financial situation you should always do your due diligence and research prior to committing to it. The same is true when searching for Arizona hard money lenders.

Thank you Arizona and loyal readers of our blog for making us one of the most successful hard money lender in the valley!  The recent explosion in consumers and businesses being turned down for lending has caused a surge in requests for hard money.  We specialize in, and are able to lend to residential and commercial individuals regardless of their current financial situation!  As a result, we have decided that we will soon be launching a “Recently Funded” section detailing the success we have had in the lending sector.  Curious if you could receive a hard money loan via HMAZ?  Check out the recently funded section and compare and contrast other recently funded deals to the deal you are inquiring about.  It is a sure fire way for you to have a little more piece of mind prior to or after calling us.  Yes another consumer conscious imitative at HMAZ that we are happy to offer.  We are only here to help out the consumers, and by being 100% transparent and honest, we are able to achieve that!

It’s kind of funny isn’t it?  You went to the bank for that loan you really needed, and they turned you down right?  That is the same bank that you bailed out with TARP funds!  TARP funds made available to them via your hard earned paychecks tax dollars!  Funds you were required to pay to them with no say on your part whatsoever!! You bailed them out at a point in time when they needed it so badly, that they claimed that if you didn’t give them these funds, they would go under!  Now here you are at this bank, under water yourself, in the same dire situation they were in just a few years back… when you lent them that money they so badly needed, and they won’t even give you one penny!

It is an unfortunate reality in today’s lending age that banks can get away with this type of robbery.  Thankfully, however, an alternative does exist!  Hard money lending will help any individual in a dire situation.  At hard money Arizona .net, we are truly the ultimate hard money lenders who will bail you out!

• LOAN TO VALUE UP TO 80%
• PURCHASE, REFINANCE OR CASH OUT REFINANCE
• NON OWNER OCCUPIED AND OWNER OCCUPIED
• NO PAY STUBS
• NO TAX RETURNS
• FUND IN AS LITTLE AS HOURS!!

Call us today to get started!  (480) 744-6FUND (6386)