You will have heard that hard money lenders Arizona don’t want a license. However is there any fact to this? It’s true that private money lenders Arizona don’t want one within the commercial sector. However do hard money lenders Arizona want a license to lend for residential properties? Hard money can fall within the grey. The reply will range relying on the state the place the property is positioned.
ASK YOUR ARIZONA HARD MONEY LENDERS FOR MORE DETAILS!
If private money lenders Arizona lend to a enterprise who fixes up a residential property then it’s many occasions fully legitimate to think about the Mortgage a commercial Mortgage. Which means the commercial Mortgage guidelines may apply. If hard money lenders Arizona lend to an proprietor occupant for his or her main residence they’re positively within the residential house and must be licensed and in addition comply with all of the laws. Most private money lenders Arizona is not going to lend on residential property that will likely be proprietor occupied. That ought to offer you a clue as to what most hard money lenders Arizona take into consideration the residential Mortgage market and the laws.