Despite what you may have heard, some lenders still do owner-occupied Hard Money Loans in Arizona. Here are a variety of reasons to consider one for your situation.
If you’ve done any looking around, you’ve probably found that not many Hard Money Lenders in Arizona are willing to do owner-occupied loans these days. Even the ones that are willing to do them will only go forward if the funds are intended for a business purpose. That’s because the regulations surrounding them can be daunting and many lenders just don’t want to deal with it.
- You’ve got bad credit. The banks and credit unions have turned you down because your credit score didn’t fit into their little box.
- You’ve got income that’s difficult to prove. If you’re self-employed or your income isn’t “normal,” you’ve probably found that typical lenders don’t want to deal with you. Unfortunately, not everyone has a 9-5 desk job with a regular paycheck.
- Your property is “problematic.” If your primary residence has major issues, the banks may not want to let you refinance.
- You just don’t qualify for traditional or FHA/VA financing. There are all sorts of reasons banks turn down borrowers and you’ve got one or two problem areas that made you too much of a risk.
- You need to do repairs. Whether it was a catastrophe or just the ravages of age, your primary residence is long overdue for repairs and refurbishment and you need an influx of cash to get it all done.
- You want to pay down debt. You’ve got debts outside of the mortgage that are critical, and you need to pay them off at a lower interest rate.
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.