Thinking of building a home? Learn more about Construction Loans in Arizona as financing options.
Home building is expensive, and builders can often benefit from some extra funding. Construction Loans in Arizona are very helpful for home builders in financing their builds and are definitely worth applying for.
When you’re thinking of building a home, there are a ton of costs to consider. Here are just some of the expenses that go into the construction of a new home:
· Lot upcharge
· Building supplies wood, bolts, nails, drywall, concrete, etc.
· Labor costs
· Electric and lighting fixtures
· Interior design countertops, paint, flooring, cabinets, doors, etc.
With all those together, that’s a lot of money. The average cost for a new build in 2018 was $290,110, which is tough for many to pay out of pocket. That’s where Construction Loans in Arizona can really help.
These are short-term loans lent out by Arizona Hard Money Lenders for the building of a home. They can cover a lot and are ideal for those without enough money to shell out for home construction.
Arizona Hard Money Loans do not require great credit or a flawless loan history. Instead, what’s important to Arizona Hard Money Lenders is collateral, which in this case, would be the home you’re building. You can pay back the loan once your home is complete or make a custom payment plan with your hard money lender.
Because Arizona Hard Money Lenders aren’t tied down with tons of corporate policies like banks are, they have more freedom in their loan processes and how they can help you. Lenders often work with their borrowers individually and can develop a loan plan that works for you and your life. This is helpful for those who are turned off by the cold attitude of banks. Arizona Hard Money Lenders can be much more flexible with you and your needs, and who doesn’t want that?
Where Should I Go for My Hard Money Loan?
Just like there are many banks out there to choose from, there are many money lenders. Do some research about lenders and see which one offers exactly what you need. If you’re not in a rush to get money, take your time and study up on money lenders.
However, if you do need your money quickly, it’s even more of a reason to choose a hard money lender over a bank. Banks can take a long time to approve your loan as they go through your information with a fine-toothed comb. Arizona Hard Money Lenders are less concerned with your financial history and more concerned with your collateral, so your approval process with them can be very fast.
Level 4 Funding is a trusted hard money lender for construction.
Level 4 Funding in Phoenix is a hard money lender that offers Construction Loans in Arizona with rates starting at 9.5%. They can even offer up to 90% financing for your project. Make sure to check out their website www.level4funding.com.
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.