The best thing you can do when applying for a Colorado Hard Money Loan is to be prepared! Here’s the kinds of information a Colorado hard money lender wants to know before approving your loan.
When you approach a Colorado hard money lender about applying for a loan you want to come in prepared and ready to field questions about your investment opportunity. Below you will find a list of the things you’ll need to have ready for your Colorado hard money lender in order to be approved.
Compile all the information you have on your property in an easy to read format including list price, location, and offer price. If you’re pitching the purchase of a commercial property you will want to have the numbers that show the potential income for the property, as well.
A Colorado hard money lender will want to know exactly what your plans are for the proposed property. This should include construction budgets, bid sheets, architectural plans, and any other information that will show you have a well-detailed plan for the improvements to the property.
Personal Financial Information
Because Colorado hard money lenders don’t focus as closely on the credit requirement they’re going to want to know about your personal financial situation. Be prepared to present income verification and bank statements in case the lender wants to review that information before making a decision.
Get Ready to Field Questions
Just as you are interviewing the Colorado hard money lender, they are interviewing you. You will need to be ready to answer questions professionally and quickly to show that you are equipped to use a Colorado Hard Money Loan.
If you spend the time to prepare for your presentation to the Colorado hard money lender it will show! If you have all of your documentation in order it will be easy to submit your loan request following your initial discussion. Level 4 Funding can make moves on loan requests and have them funded as quickly as a week. To learn more, give us a call.
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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.