Category Archives: Arizona Home Mortgage

Tactics to secure a larger hard money loan: estimate the ARV

A hard money loan (i.e.,an asset-based loan) is any loan secured by the value of an underlying asset. Most of these lenders will only give loans of up to 65 percent of an assets market value.

But what if you intend to renovate a distressed property which is significantly undervalued at the time purchase? To secure more in the way of financing you need to understand what your property worth is after you’ve repaired it (the after repair value, or ARV).

Asset-based lenders could offer more financing if you can demonstrate the potential of a project. However, to explain a project’s potential you need to understand property valuations. Relying solely on appraisals will limit your understanding and wont serve you in the long run as a real-estate investor. Professional assessments are also expensive and time-consuming.

Your best bet is to develop your sense of what a property is worth by comparing your estimates with that of a licensed appraiser. Educating yourself this way will develop your understanding of property valuations. An excellent way to start training yourself when it comes to property values is to use the comparable sales method.

You can begin to estimate the ARV yourself by utilizing the comparable sales method, which could help you qualify for a larger hard money loan.

The first step is to assess your subject property, look at its location, what is the neighborhood like and what impact does this have on the properties value? Figure out the lot size and determine the condition of the exterior. Find out essential details about the property, its size in square feet and its amenities (i.e., Number of bedrooms and bathrooms).

Find 5 to 10 properties similar to your subject through local listings. Only consider properties that have sold within the last 3-6 months, are in the same location and have a similar size and similar amenities. It is crucial that you don’t look at distressed properties. Remember you are trying to determine your properties potential after you have made renovations.

After you have enough comparable properties, consider the ones that are the most similar and find the properties with the highest and lowest selling price to estimate a range of value for your subject property. These numbers will give you a sense of what the property will sell for after you make your repairs. With this understanding, you can thoughtfully discuss the potential of your renovation project with a lender and qualify for the best loan.

You can secure a larger hard money loan if you can explain the potential of your project

Even the most informed estimate of a properties value is only an educated guess. If you rely solely on appraisals, you aren’t building your knowledge of property valuations. Using a simple comparable sales method is an easy way to increase your understanding of property valuations and the after repair value of your property. Having this understanding builds your lenders confidence in your project and increases your eligibility for a larger loan.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Tips for Selecting Commercial Lenders

Selecting commercial lenders to work with is a critical step a successful real estate transaction. Thinking of potential lenders as business partners or service providers is the first step in a successful selection.

In many instances, borrowers tend to look at commercial lenders as a higher power who controls their destiny when they are seeking a loan. And though the lenders is a critical factor, they should never be viewed as anything but a business partner, ally or service provider. They have a product which you want and need, money, but it is just that, a product. And as with any business partner or supplier, you will want to do your research and find the best solution to fit your needs. In this case service, the ability to cultivate a long term relationship and financial details of the loan will all have an impact on your selection.

The money is the key to this relationship, so your first questions for a lender need to be regarding the terms which they offer. Loan to value (LTV) is the ratio used to compare the amount of the mortgage to the market price of the property. Lenders who offer a highest LTV should be favored over other lenders. The high LTV provides you with greater purchasing power and more options for your purchase. Interest rates are another key term to consider. This is basically how much commercial lenders want to make for the service which they are providing to you. The interest payments can be the majority of the monthly payment which can have a huge impact on your monthly cash flow. Be certain to find a good balance of loan to value and interest to meet both your need for buying power and monthly cash flow. The final fee to factor in is points that you will pay as a lump sum or throughout the loan.

Having a good working relationship with your lender is also crucial. You need to be able to speak openly and ask any questions that you might have. One important question to ask is about any additional fees. Some lenders will add fees such as documentation fees, legal fees or administrative fees. Be certain that you plainly ask about any “additional” fees and factor them into the total cost of the loan.

Time is Money

Timing can be everything when purchasing commercial property. Asking a lender to provide you with realistic timelines for funding will dictate how quickly you can complete any purchase. As a work around, you might want to see if the lenders offer pre-approval. If there is no option for pre-approval then having an accurate time frame for processing documentation and a guaranteed access to funding date is important. Better rates but a slow timeline can kill a great deal.

Look For a Long Term Finance Partner

Selecting the best commercial lenders to work with can be a process which requires a good deal of time and effort. But the work that you invest in creating a strong and lasting relationship will pay off each time you complete another loan with your lending partner. That long term relationship will provide you with a great long term return on your investment.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Criteria for Selecting Commercial Lenders

Evaluating commercial lenders can be a difficult task. But preparing a list of criteria to use for selecting the best lender to meet your needs can be a great time saver.

As a business professional, both your time and your money hold a great deal of value. So it is important to find a lender who will meet all of your needs. Ideally, you will be able to evaluate enough commercial lenders to select a few to forge long term relationships with to ensure continued financial prosperity. The process will undoubtedly take some time but the long term benefit will be a good working relationship with a primary lender as well as other secondary reputable lenders.

Commercial lenders are all about money. You would not be seeking a commercial lender if you did not need money. But you should look at these relationships as you would any other vendor who is supplying a good or service to your business. You need to compare the merits or the service each lender is willing to provide to you. This means what type of fee structure are they offering, what is the interest rate and how quickly can they deliver on their product; your loan funding.

You will also want to evaluate the core qualities of the lenders existing clients. Do they cater to a certain industry or type of loan? Do they have a specific loan size that they tend to service? Are they familiar with your business and the type of loan that you are looking for? All of this information will help you to determine the level of responsiveness and the quality of the service that you will receive if you do business with the lender. Customer service might not jump out as an important factor when securing the loan but if you ever have an issue or want to restructure your loan, then customer service could be one of the most important features the lender offers. Think long term for customer service and product lines available. Meeting your long term needs with a single lender will save you a great deal of time in the long run.

Comfort and Compatibility

Think of your lender as a strategic partner. You will need to discuss confidential financial information as well as other proprietary information about your business. It is important that you are working with a lender with whom you have a certain comfort level. The more honest and up front you can be with your lender the more benefits they can provide to you.

Invest Time to Evaluate for Long Term Success

Creating a list of criteria to evaluate commercial lenders will require an investment of your time today. But the benefits will continue to reward you each time you complete a new loan from your lender or seek advice. Carefully consider the fees and interest rates associated with the different lenders, but also recognize the added value that customer service and fast response time can add to your relationship. Knowing that you have a lender who will meet all of your needs for the long term is worth the time involved in a careful selection process.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Key Differences between Commercial Loans and Residential Loans

Knowing the differences between commercial loans and residential loans will help you to understand the lengthy process when applying for a commercial loan.

Most consumers think that the process to apply for a residential loan is fairly in-depth and thorough. But if they were ever to apply for a commercial loan they would begin to look more favorably on the residential loan application and approval process. Because of the larger sum of money involved and the greater risk and volatility in the commercial real estate market, commercial loans and the application process can be very intense.

When a consumer applies for a mortgage, the lenders first concern is their income and its stability as well as their debt load. Consumer’s debt should be no more than 45% of their income. But commercial lenders are more interested in the ability of the property to generate income to pay the loan. This is called a Debt Coverage Ratio and lenders prefer to see the ratio at 1:1.25 at the least. This means that the income to cover the loan payments is relatively secure.

A down payment on a home is somewhat negotiable and in some cases is very, very small. But due to the increased risk associated with commercial loans, these down payments are normally 20%. This gives the lender the added security of knowing that the property is valued at 20% more than the initial loan amount. Even in the event that the borrower defaults early in the loan, chances are good that the property is still valued at the full payoff on the loan.

Time Is Critical for Commercial Loans

A normal residential mortgage loan can range from 15 years to 30 and some even stretch as far as 40 years. But a commercial mortgage loan rarely exceeds 10 years. This is because lenders want to decrease the risk of the loan by getting their money back faster. In addition, consumers can pay a mortgage loan off early and save some of the interest that they would have paid over the term of the loan. This is not the case for a commercial mortgage. And in fact, there can be penalties which must be paid called prepayment penalties. In more cases the penalty decreases the further into the loan you progress. But the lender wants to be sure that they make their desired profit, or earning, on each commercial loan they write.

Not Really Even Similar

A consumer mortgage and a commercial property loan are only similar in the fact that it is a loan to purchase property. The dollar amount of most commercial loans is substantially larger than the average home loan. In addition, commercial real estate values are very volatile and can change drastically and very quickly. This is an added risk for the lender. Due to these increased risks, lenders are much more particular about the loan applications which they approve and the terms for which they will offer the loan. Having a good understanding of the lenders approval criteria can save a borrower a great deal of time in completing lengthy commercial loan applications if they don’t meet the lenders criteria.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Process for Obtaining Commercial Loans

There is really no shortcut when you are seeking commercial loans. But following a tried and true process can help to expedite the response to your application.

Most borrowers fail to understand that a great deal of the success or failure of their commercial loan application rests on their amount of effort in preparation. There is a huge amount of research and due diligence that a borrower must invest in the process in order to be successful when applying for commercial loans. Understanding the loan application process, the desires of specific lenders and their loan approval criteria are all very important and should be researched long before you begin to search for a commercial property to purchase.

Many borrowers are in awe of commercial lenders and fail to see them as a business partner or vendor. They get too caught up in the “bank” aspect and feel as if they are being judged. The lender is making a judgement but only from the perspective that they want to verify that you can afford the loan. They are just making smart business decisions. In that vein, you should also be making smart decisions about who you are interested in borrowing from. There are many options for commercial loans which you should explore including large national banks, medium sized regional banks, a small local bank, a private lender or a mortgage company just to name a few. If you are not familiar with any major lenders or to gain information about your options, begin with a meeting at your current bank to learn about their commercial loan products.

Each lender is going to have a slightly different set of criteria for approving a loan. Learning these requirements can help you to determine which lenders you will actually apply to. Set up a few appointments to speak to loan officers to learn about the lenders and what they have to offer you. Be prepared to discuss your business, the reason you are requesting a loan and how you plan to meet the financial responsibility of repaying the loan. These conversations can glean some very helpful free advice for you from seasoned lending professionals.

Select Lenders Who Best Meet Your Needs

Not all lenders are going to be a great fit for you or even a fit at all. If you are looking for a small loan then a national bank might not be interested in your application. Likewise, if you are seeking a very large loan, then a small local bank might not be your best choice. Try to determine which lenders specialize in the type of commercial loans that you are seeking and then apply only to those lenders. There are costs involved in commercial loan applications as well as a commitment of time. Don’t waste either by applying to a lender who will not be interested in your business.

Make a Great First Impression

Other than a brief introductory meeting, your loan application will be your first contact with many lenders. This is your only opportunity to create a positive and professional first impression. Invest all of the time that you need to research your options and the criteria that each lender uses to evaluate loan applications. Only then should you begin to compile your documentation and complete the loan application. This dedication to completing a high quality loan application and documentation packet will pay great dividends when you learn that you have multiple loan offers at very competitive rates.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Why There are Mixed Signals for Commercial Loans in 2018

Many are optimistic for 2018 to be a great year when it comes to commercial loans, but others are also preparing for some bad financial scenarios to hit this year.

The multifamily market on the west coast could be a cause for some concern. Rental rates have increased, causing the market to be unsustainable. Also, there is stiff competition among lenders, which leads to many dealing with commercial loans to expect an intense 2018 among lenders.

Because of this tough competition, lenders are starting to take more risks by approving higher-risk commercial loans. And if the market takes a turn for the worse, this could put many lenders in a bind. Even though signs do point to a stable 2018, lenders should be prepared in case of a sharp turn.

But the majority in the industry think that momentum from 2017 will carry over into 2018. They also this that not only will there be stability, but that the commercial industry could even see a 5 percent increase.

Many are optimistic for 2018, but some of the issues could be the start of a downfall in the market.

The issues with stiff lender completion and increase in rental rates could be the start of the marketing taking a turn for the worse. It might take a couple of years, but the impact could start in 2018. Especially if the issues continue or if new issues come up.

Some bad signs are also hitting office properties and retail stores.

More people are starting to work from home, which is becoming a bad sign for office properties. With people using their home as their office, there is no need for office spaces, which is leading to a higher vacancy. Retail stores are also starting to lay off more employees, which is another bad sign. That means that they could be on their way to going out of business, leading to the vacancy of even more spaces.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Why Commercial Loans Had a Successful 2017

The end of 2017 wasn’t quite the strongest quarter, but overall 2017 was a really good year for commercial loans. Just recently, Bank Financial Corporation released their impressive numbers from 2017 and many others in the industry shared the same success.

With a 20 percent increase from last year, Bank Financial Corporation recorded a net income of $9 million dollars. There was a decline in the 4th quarter from previous years, but it was mainly due to accelerated payments and also prepayments of leases. On top of that, the reduction of wholesale deposits did cause a decline in total deposits in the 4th quarter, but 2017 still saw an overall increase.

Commercial loans and industrial loans san an increase in $53.5 million dollars in 2017. Also, seeing increases, multi-family residential real estate loans increased by $45.5 million dollars and middle market commercial leases grew by $18.1 million dollars. Bank Financial Corporation wasn’t the only company that saw an increase throughout 2017. Many in the industry also saw just as impressive numbers when it comes to all the different types of loans.

It was a favorable year for Bank Financial Corporation set a new record with commercial related loan balances of $1.22 billion dollars. The total retail and commercial deposits didn’t grow, but it also didn’t decline either, leading to stability throughout the year. Stability isn’t the best scenario, but it is a lot better than seeing a decline. Which is why many in the industry are hoping that the numbers continue to increase or at least be stable as we continue into 2018.

Bank Financial Corporation thanks the positive trends due to a new organization structure.

With such a great year with accelerated growth with commercial loans, Bank Financial Corporation has given credit to the success to new key business plan objectives that they were able to execute for a successful year. The company is hoping to continue to improve and become more efficient throughout the new year. The company was able to organize their plans to successfully deliver the business that their consumers are looking for.

The momentum from 2017 is expected to continue through 2018.

Due to the successful year, Bank Financial Corporation has been able to obtain new customers, acquire new account types and even expand relationships with existing customers. Bank Financial Corporation is the holding company for Bank Financial National Bank, who currently have 19 offices across the United States and offer things like commercial loans.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Why Commercial Real Estate Loans are Beneficial for Small Businesses

It can be exciting when it is time to expand your new business, but it can also be stressful when you need to start looking for extra funding for your expansion. Applying for commercial real estate loans can be a grueling process, but in the end, it is well worth it.

Always do plenty of research and compare all of your options. This way, you will be prepared and know what to expect. Working with a lender you can trust is very important because then you will feel comfortable asking all of the questions you need to ask to ensure you understand everything. Commercial real estate loans can be used for many things like a new location for your business, renovation of your current location or expansion of your current location. Really, you can use it for any of your real estate needs. Especially if you are looking to purchase new property. This can cost a lot, leading to the need of extra financial help.

Find the right lender to work with. They will open with you about the entire process and will discuss the terms and fees that come with borrowing. Reputable and honest lenders will discuss with you what will happen if you decide to pay off the loan early. In this case, you may be responsible for some fees. If you are open and honest with your lender from the beginning, then you will not be hit with any hidden terms or hidden fees.

Interest rates will also vary when it comes to commercial real estate loans. It will depend on many things like your credit history, financial situation and type of business. These loans will usually come with higher interest rates than compared to other types of loans. The interest rates can fluctuate, but the average rate will most likely be between 3.5 percent and 6 percent.

Be prepared to now only pay higher interest rates, but also higher additional fees.

Upfront fees and additional costs aren’t that uncommon for commercial real estate loans. Just like with interest rates, these additional fees are going to be higher with these type of o loans. Some of these fees could include: legal costs, loan application fees, survey fees, property appraisal or even an annual fee.

Higher interest rates and higher fees can be difficult, but working with the right lender will make it worth it in the end.

There are many reasons for why you may need to extra funding. And even though it takes some time, work and a little bit of stress to apply for extra funding, if you work with the right lender and are prepared with what to expect throughout the process, then all of your hard work will pay off.

.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Get Your Arizona Home Mortgage From a Private Investor

 

Arizona Home Mortgage
Arizona Home Mortgage

Are you in search of a private investor that can assist you along with your money points? Perhaps you’ve gotten a home you wish to purchase or a foreclosures to keep away from. A private money lender can provide you a direct Mortgage so that you simply don’t have to fret concerning the conventional financial institution Mortgage hassles that come up. You will get the money in your home Mortgage Arizona sooner than you ever might by way of a financial institution and with far much less paper work and aggravation!

There are a lot of positives about a non conventional Mortgage and it’s time you bought on board with it. These hard money Mortgages enable individuals to qualify for a Mortgage when ordinarily they may have a very tough time, in the event that they even qualify in any respect. Generally when somebody’s credit score is admittedly dangerous, they merely can’t apply for a conventional financial institution Mortgage as a result of the banks don’t wish to cope with it. That’s why hard money Mortgages and their lenders are so essential. You will get that Arizona home Mortgage that you really want. And there gained’t be any questions requested.

Take the time to actually look into what you are able to do with a hard money lender. The time is now to get entangled with a non conventional Mortgage if you really want one and you already know that your credit score rating can’t get you one by way of a conventional route. There’s no cause to be ashamed. Should you want a home Mortgage Arizona however you already know that you simply had a tough time throughout this final financial downturn, then look into different methods. Look into a non typical lender and look into getting a residence Mortgage Arizona from a private lender. It’s price your time to take a look at the sort of lender you possibly can work with. Get the house Mortgage Arizona you want right now.

 

Arizona Mortgage Broker
Belief Deed Investing, Arizona Mortgage Dealer

Dennis Dahlberg
Dealer/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112
Phoenix AZ 85027

Didn't Your Mother Ever Tell You NO? You Can’t Have It!

You need that Arizona Dwelling Mortgage to Buy your Dream Dwelling, However…

Arizona Mortgage Broker
Arizona Mortgage Dealer, Onerous Cash Mortgages, Arizona Dwelling Mortgages, hard money lender Arizona

I’ve bought an fascinating job.  All day lengthy I take heed to folks’s tales as to why their credit score rating is down within the low 400 ranges they usually need an Arizona Home Mortgage.  They name and I hear to a degree.  It’s often not their fault as to what occurred.  That they had a lack of job, needed to transfer, bought a divorce, firm went out of enterprise, home was the other way up,  the mortgage firm did an unlawful foreclosures (no matter this implies) they usually find yourself saying ‘it was not my fault that I’m now at a 424 FICO’.  I hear and hear and emphasize with them and say as you realize it’s not one thing that you could possibly have preventedIt’s actually not your fault.  Nevertheless, being on this enterprise for years I’ve come to some placing conclusions; they’re:

  1. The credit score rating is the King relating to a Mortgage approval.  In the event you’re down at 505, the Mortgage Corporations, FHA, VA, USDA actually don’t care to take heed to your story.  It’s a truth in your credit score report and it’s not going away.  Despite the fact that some lenders will take a hardship letter of clarification for an Arizona Home Mortgage this often doesn’t work.  If you get all the way down to the Nitty Gritty, they don’t care and your mother doesn’t work there.
  2. It actually was your fault.  You ought to have had a plan or discovered a second job, or had ample money reserves to deal with the bump within the highway.  It’s your fault while you didn’t pay for the mortgage and the financial institution foreclosed on you and kicked you out.  If you don’t pay it’s your fault.
  3. When the borrower is informed NO, that they won’t qualify for that Arizona Dwelling Mortgage, this information isn’t new information for them.  They already know the reply.

You Can’t Have That Arizona Dwelling Mortgage ! Mother Mentioned No.

Folks need to focus in on the issue and never the answer.  They are going to inform you about

Credit Score Card
Arizona Mortgage Dealer

issues prior to now and the way it’s ruined their life and they’ll speak to anybody who will take heed to them.  They need to say the identical factor time and again, ending the story with ‘It’s not my fault’. And largely they are saying ‘it’s not truthful.  Why can’t I’ve this new house?  It’s not truthful.  However I would like it; I would like it, why can’t I’ve it? I would like it. It’s not my fault. It’s not truthful’.  You get the image; they go on and on and on.

So what’s the resolution for this borrower to get the Arizona Home Mortgage

First they should discover the particular person whose fault it’s that put them on this dangerous state of affairs, observe them down and confront that despicable, imply, terrible particular person for placing them on this horribly unfair state of affairs.  They often can discover that particular person by trying into the mirror.

Second they should concentrate on the answer not the issue.  The issue is prior to now and you may’t again it up and do a re-do.  I don’t hear a common backup BEEP BEEP BEEP.  So let’s not linger on the issue, however the resolution.  Ask your self how are you going to resolve the issue of a 505 credit score rating?  If you concentrate on the answer the issue goes away.

And at last, NO that Arizona Home Mortgage isn’t going to occur.  In the event you don’t consider me ask your mom.

Arizona Home Mortgage Team
Arizona Dwelling Mortgage, Mortgage Dealer

Dennis Dahlberg
Dealer/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112
Phoenix AZ 85027