If any of those reasons resonate with you (or you’ve got your own reasons), you’re probably wondering about the specifics. These types of loans are incredibly quick. The application takes minutes and the funds can be in your account much faster than a bank loan. Interest rates vary, but they are typically in the six to 12 percent range. To qualify, you’ll simply need a tax return or 3 months of bank statements.
Level4Funding and Owner-Occupied Hard Money Loans in Arizona
Our owner-occupied Hard Money Loans in Arizona have no pre-payment penalty, they don’t cost anything to apply for, and we guarantee the lowest rates in the business. Speak with one of our representatives or fill out one of our quick loan applications today!
How to Apply for a Residential Hard Money Loan in Arizona
Thinking about finding a Arizona Residential Hard Money Lender in Arizona to get financing for a single family home? Delving into the world of residential loans can be daunting, so let’s demystify it by taking a look at the first step in the process — applying.
Hard Money Loans in Arizona use funds from private investors and individuals and are secured by collateral. As such, the application process is different than a typical bank or credit union loan. A big bank might ask for a pile of documents to verify every dime of income, show every asset, and prove that your credit score is up to snuff. With hard money, here are some of the common steps you’ll go through:
- Find a reputable lender. An upstanding lender will have a professional website, an easy way to contact them, and, most importantly, a proven history of funding successful residential projects.
- Do your research. If you’re making an investment in residential real estate, you’ll want to know every detail about it — what’s its growth potential? What is the market’s history in the area? What will your after-repair-value (ARV) be?
- Show the value of your collateral. Since collateral is the lynchpin of a Hard Money Loan in Arizona, that’s where lenders will focus. You’ll provide documentation that shows the value of your collateral property. This can include things like architectural plans, contractor bid sheets, detailed budgets, and plans for renovations.
- Prepare other documents. In most situations, the above documentation will be all you need. In some cases, though, Hard Money Lenders in Arizona might ask for a few other documents, including paystubs, W-2s, credit history, or bank statements.
Moving Quickly on Your Residential Investment
Here’s the best part about opting for a Arizona Residential Hard Money Lenders over a common bank loan — the process is really fast. Without complicated underwriting processes and all sorts of verifications, Hard Money Loans in Arizona can be approved in a matter of days and you can have the money in your account in a matter of weeks. That speed means you can move quickly on an investment opportunity. After all, the faster you can get started, the faster you can make a profit.
Apply for a Residential Hard Money Loan in Arizona Today
The application process is easier than you might think. An Arizona Residential Hard Money Lender in Arizona, like Level4Funding, can sit down with you, walk you through the process step by step, and help you get the funding you need for your project.
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.