Tag Archives: bridge loan

How to Finding Reputable Hard Money Lenders Can Benefit You

March 26, 2018UncategorizedArizona bad credit home mortgage lenders, Arizona Hard Money, bridge loan, business loans, Hard Money Lenders, hard money loanbigdaddydennis

Do you wish you could find a trusted hard money lenders to help you obtain the funding you need to take your business to the next level? Level 4 Funding knows that when you need cash fast, not all lenders are created equal — here’s how to find the credible ones.

If you need cash and you need it fast, hard money lenders are your people — they can help you get the loan you need. This is beneficial for real estate investors to small business owners. Unfortunately, some of these lenders aren’t as professional and ethical as you would hope. It’s important to find a lender you can trust. So here are a few things to remember:

Getting a handle on exactly what hard money loans are is the first step. These loans can be defined as short-term loans in which you can get cash fairly quickly after the approval process — this can sometimes even be the same day as application approval. Next, when you are in search of a lender, it’s a good idea to look for one that specializes in your company’s field of has experience working with a similar type of company as your own. Always make sure the lender is licensed — and that he can prove it. It’s better to be safe than sorry. Take your time when selecting hard money lenders – meet with a few until you get a good feel for one that seems like they really believe in your dream and can help you obtain it via a loan.

When you meet with lenders, be sure to ask a lot of questions — including that what types of fees are associated with the loan, as well as terms and rates. Sometimes hidden fees can creep into the documentation, so be sure to review if carefully and even have a lawyer take a look as well.

Find out as much as you can about these loans — and these lenders — prior to meeting.

Research local hard money lenders in your area to make sure you find a reputable one to work with. Remember, it’s almost as if you are interviewing them for a position so there is no need to feel intimidated and you should take the upper hand by asking questions about their areas of expertise, their current and past project portfolio and anything else you want to ask that you feel would help you make an educated decision as to whether or not this is the right lender to work with.

Once you do find the right lender – it’s important to treat the relationship as a partnership.

So meet them halfway in the process, meaning find out what they need from you, in terms of financial documents, and more to make the application process as smooth as possible. Come prepared with your business plans, current credit report, any collateral you are prepared to put up to secure the loan, and other business or personal finance information. Remember that he is there to help you achieve your business dreams, but you’ll need to do some work too. When you work together and find out as much as possible about how you can obtain approval, you’ll be well on your way to your business’ next phase!

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

Pros and Cons of a Bridge Loan (benefits and risks)

December 4, 2017Uncategorizedbridge loan, bridge loansbigdaddydennis

There are benefits and risks to obtaining a bridge loan prior to moving out of your old home and into your new dream home. Make sure you understand what they are with these easy tips.

These types of loans are popular for homeowners that are in between moving into their new home and selling their old home. Oftentimes, they could use the extra funds so they can move out of their old home and not miss out on the new home of their dreams because they can’t make a down payment until they send their old home.

Bridge loans are short-term loans that “bridge the gap” between the time you purchase your new home to the time you sell your old home. You can use these funds to finance the new home and them pay the loan off when you sell your old home. The “pros” of these loans are that lenders don’t typically have the strict guidelines that traditional bank loans require. Credit score and debt-to-income ratio are not too important when trying to obtain this loan. What is important are factors such as how likely your current home is to sell quickly, if you are able to pay both mortgage payments if it becomes necessary.

Some other risks of these loans are the fees associated with in including an administration fee, appraisal fee, notary fees, wire fees, origination fees and any other lender fees. All in all these fees can total a few thousand dollars – a lump sum that might be difficult to pay as you are also dealing with other fees associated with your new home. However, the “pro” is that this amount is still much smaller than a large sum of around $20,000 to secure a down payment on your new home if your current home has yet to sell. High interest rates are another downside.

The pros outweigh the cons when it comes to these loans.

There are many pros that make bridge loans very desirable to homeowners looking to upgrade to a new home. Having the ability to avoid trying to sell the house while you are living there is a big bonus! Often times you can get a grace period of a few months before you have to start making payments on the loan, so you may be able to avoid interest payments if you sell you house in that time. The loans are fairly easy to qualify for and they have flexible underwriting guidelines so you can apply and get funding — fast!

You’ll need to go through a mortgage broker or private lender.

When you decide you need a bridge loan to make your home buying and selling process much more smoothly, you’ll need to find a reputable mortgage broker or private lender to help you negotiate the loan approval process. Do your research before you make your decision about who to help you through this process, then go ahead and start shopping for your new dream home!

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

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

What is a Bridge Loan and Why is it Beneficial?

December 1, 2017Uncategorizedbridge loan, bridge loansbigdaddydennis

A bridge loan might be just the think you need to take your dreams of homeownership and turn them into reality, or to purchase a new, larger or upgraded home. Read on to learn the “ins and outs” of these loans, their pros, and cons and how they can help you.

When it comes time to making an educated and informed financial decision about obtaining a loan to by a home or to help you sell your home and buy a new one without too much financial burden, it’s time to learn about how a bridge loan can help. Let’s start by explaining what it is. This is a specialized short-term loan that “bridges the gap” between the time you sell your home to buying your new one. It is very useful when it comes to real estate transactions, as you can apply any equity in your current home as well as the loan itself, toward a down payment on a new home even before your current home is sold. Once sold, you pay back the loan with the funds earned from the sale of the first home.

These loans allow homeowners to not lose out on their new dream house because they have to wait until their current home sells to afford a down payment. It’s also nice to already be out of the current home while your Realtor is selling your home so you don’t have to worry about daily cleanings, leaving the house on show notice due to showings or having the home look “perfect” while also trying to live in it (parents may relate to this benefit…).

Another benefit is that a bridge loan is typically not difficult to apply for or obtain. Because borrowers accept a high debt to income ratio (due to the fact that they own two homes in this time period), debt and credit scores are not scrutinized as they might be with a traditional loan. There is also markedly little paperwork involved in obtaining this type of loan. But keep in mind that you will have to apply for two mortgages during this bridge period as well, so credit score is still important to keep on the up and up.

What you should know before applying for this type of loan.

There are some risks associated with this loan and you should be abreast of the terms prior to signing any official documentation. Downsides include high interest rates. Because the lender is taking a “risk” in extending you the funding for this loan, based on the sale of your current home, as well as the short-term nature of this loan, interest rates are higher. It could even reach 10% or higher. However, some lenders will allow you to skip up to four months of payment on the loan, meaning you could in fact avoid interest rates if you are able to sell your current home and pay off the bridge loan before payments come up. You should also note that there are several fees associated with this type of loan, which in total can run approximately $2,000 or more.

Is this type of loan really worth it?

Depending on your financial situation, your urgency to move out of your current home and secure funding for your new home, yes, it is absolutely worth it. But only you can determine that for yourself based on your needs as a homeowner.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

How a Bridge Loan Can Help You Get the Home of Your Dreams

December 1, 2017Uncategorizedbridge loan, bridge loansbigdaddydennis

If you’re ready to make your American Dream come true by purchasing your first home or if you are ready to sell you current home, a bridge loan can be a very useful way to make this happen. Find out more about how this type of loan can benefit you.

As new homebuyers, it’s crucial to understand that, much like location, timing is everything. Timing is also important in the instance of current homeowners looking to sell their home and buy a new home, as most buyers need the funds from their home sale to put toward their new home purchase. Lining up the exact timing of when you sell your current home to when you sign on you new home is like aligning the stars. But that’s not to say it’s impossible. Challenging yes, but that is why a bridge loan can be just the thing you need to get to the next stage of homeownership regardless of your current status right now.

A bridge loan is a very specialized short-term loan that can help in exactly this instance – when you need funds to get you from “point A to point B” as a homeowner. Even if you are able to qualify for both home loans, you aren’t able to make a significant down payment on the new home without first selling the current home, right? That’s where this loan comes in, because it can serve to “bridge the gap” from that hypothetical point A to point B that we mentioned earlier. It is in addition to your home mortgage and covers a down payment for the new home.

This typically a very short-term scenario, upon which you pay the loan off in its entirety once you receive funds from selling your current home or property. The loan is dependent upon the equity you have build up in your current home. These loans also have low debt-to-income ratios and no specific amount of paperwork requirements at the time of closing. These loans are contingent on the specific financial situation, not based on your annual earnings or your credit score, which comes as a relief to many.

What are some of the benefits of this type of loan?

These loans are very “borrower friendly” and many benefits that serve as win-win solutions for a successful transaction. Without having to have already sold your current home, you can get the new home of your dreams. It also comes in handy to be “out of the house” during the times that real estate professionals are showing the previous home. You can even stage it and possibly put it on the market for a top dollar amount. You can also delay initial payments up to four months on this type of loan so your budget is freed up to manage other expenses that come with selling and buying a home. If you are able to pay back the loan prior to that time, you won’t have to worry about an added monthly payment down the road.

When you decide that you want to obtain a bridge loan, contact a mortgage broker to help you through the process.

Now that you’ve decided that this loan is exactly what you need, its time to find the right mortgage broker to help you through the application process to ensure eligibility and a successful application submission. Do some research about mortgage brokers in your area and meet with several until you find the one you feel confident will work to find you the best loan for a win-win solution.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Discovering the Pros and Cons of a Bridge Loan

November 30, 2017Uncategorizedbridge loan, bridge loansbigdaddydennis

Bridge loans are there when you need them. However, it’s important to find out the risks, benefits, expectations and pitfalls to make sure its more “dreams come true” than “danger beware.”

In the instance of obtaining an investment property, the market can change abruptly and things happen fast. So when you find the property of your dreams, time is of the essence to create a win-win solution. This is especially true in the case of foreclosures that generally get snapped up very quickly. That is where a commercial bridge loan comes in handy. If your current mortgage is due and you need to secure a replacement mortgage or if you lack the funds needed to finance a balloon payment of a prior loan, this type of loan can also be the answer.

First, let’s define the term bridge loan. What is it, exactly? This type of commercial loan is a particular type of short-term loan that can run the course of as little as two weeks or up to three years. It serves the purpose of being a “quick fix” when funds are needed fast. The term comes from the fact that these loans “bridge the gap” until you can secure long-term funding.

A bridge loan is a fairly straightforward loan, and the process is not too complex or difficult to apply for and get approved, and they typically do not stipulate prepayment penalties. While these loans have many benefits and advantages for business owners that need cash quickly, there are some “cons” of this type of loans so it’s important to understand what those are and if you are prepared to manage those.

It’s important to have realistic expectations about this type of loan.

As with the advantages with this type of loan, there are some stipulations that as the borrower, you need to know and be prepared to handle. One of the biggest drawbacks with this loan is the interest rates are typically higher and more expensive than long-term commercial loans. It’s important to understand the exact terms of this loan, since they can be quite short in length. Typically during the course of this loan, you are seeking a longer-term solution. With that comes the expectation of common practice that when you are able to secure long-term financing, you need to pay off or repay the remainder of the short-term loan in full. This also will alleviate the fact that you are paying a very high interest rate and likely other costs associated with the short-term loan, so it really is a win-win solution to pay off the short-term loan as soon as you secure your loan-term replacement capital.

Don’t be afraid to ask questions about your bridge loan before you sign on the dotted line.

The more educated you are about the definition, terms, “fine print” and payback structure of this type of loan, the more comfortable you can feel about moving forward with securing financing in this manner. Do some research on line and talk to a professional lender about how they can help you secure this type of loan to benefit your business.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Bridge Loan

November 22, 2017Uncategorizedbridge loan, bridge loansbigdaddydennis

If a business is not in a place financially to obtain funding, but still needs access to funds for a project or for operations, they might apply for a bridge loan. As the name implies, these loans are designed to be very short term and are there to help small businesses with immediate access to funds.

Because of the speed and requirements of traditional lending agencies, there arose a need for funding that was available in a much more condensed time frame with fewer requirements. Bridge loans fill this need. They are not only very flexible, but the terms of the loan are very short, giving both the borrower and the lender exactly what they need.

Typically, small businesses will utilize a bridge loan to cover the expenses that are incurred while they are waiting for the greater funding of a traditional loan to come through. For real estate, this might include the fees, assessment and appraisals of various properties that are in the pipeline for development. These loans allow for the maintenance of cash flow while larger funding is still in process. Some businesses have used these loans to cover rent, payroll or other operations expenses to maintain their operations while other funding is pending.

The ease of accessibility of these loans does not come without a cost, however, as the interest rates are typically much larger than that of a traditional loan. This only makes sense when you consider the level of risk that a lender is undertaking by providing the funding in such a matter. There is not much security outside of the value of the property. In this way, bridge loans are very similar to hard money loans, although their intended purpose is different.

One of the strategies that many borrowers employ is actually to roll the cost of the bridge loan into the overall cost of the larger traditional loan. This allows the borrower to pay back the loan immediately upon the receipt of the larger loan. This, essentially, rolls both loans into one payment and is a fairly standard tactic. Most lenders understand the need to do that and are willing to work with borrowers to ensure a smooth transition. If you are a borrower that is in bind while waiting for funding, make sure that you explore all of the options that are available to you. Your lender might even have some ideas about how you can creative leverage these loans.

Are there any other uses for a bridge loan other than real estate?

Yes, absolutely. Many operating businesses use bridge loans to cover the operational costs of doing business while they are waiting on large contracts or massive amounts of funding. While this could be a risky venture if financing falls through, it is a safe assumption that businesses who are going to use the quick funds of a loan of this type can count on their source of funding to not fail. At this point, the elevated interest payments are a much more acceptable loss than having to shut down operations.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

How a Bridge Loan can Work for You

November 9, 2017Uncategorizedbridge loan, bridge loansbigdaddydennis

Understanding how a bridge loan works can afford you a great opportunity to buy a new home. But you need to understand the risk involved before you chose this option.

Not everything goes according to your plans no matter how diligently you might work to ensure that it does. There are just some events that are out of your control. And this can certainly be the case when you are selling your current home and searching for a new home. Nothing is more frustrating than finding your next perfect home before you are able to sell your current home. In some cases you can make an offer with a contingency but other times the seller has multiple offers and you are faced with making an offer or losing the house. Your only solution could be a bridge loan, which is a temporary loan that is secured by your existing home to fund the down payment on your new home.

When you are in a position that requires a bridge loan, the bank will need to see documentation on your current mortgage and your income to determine if you qualify. There are not really any specific standards to qualify for a bridge loan as each case can be drastically different. Most lenders take a more real life approach to evaluating your ability to pay both mortgages at the same time because it is likely that you will not sell your first home before the mortgage payment is due on your new home.

As with any type of loan, there are pros and cons to a these loans. It is certainly a benefit to be able to close on a new home prior to selling your current home. Also, you might be able to negotiate terms with your lender so that the first payment on your short term loan is not due for several months. This can give you time to sell your current home without making multiple mortgage payments each month.

The Drawbacks

Any short term loan is going to have a higher interest rate than a long term loan so expect that as well as additional fees when you are talking to lenders about a loan to bridge your two mortgages. Also, if your income is not substantial, it could be difficult to qualify for a second loan. So before you head down the path of two mortgage payments, even for just a few months, be certain that you have the monthly income or savings to cover both payments. The very real truth is that you do not know when your first home will sell and therefore how long you will need to pay both loans each month.

Understand the Cost and the Risk

Knowing that you could be paying somewhat high fees and interest as well as two mortgage payments each month can add a lot of stress to your finances. Be certain that you understand the repayment time frame of your short term loan before you commit to the lender. Also, be very realistic when you estimate how long it could take your current home to sell. If you have no interest or offers then it could be wise to pass on the new home until your current home sells. Using a bridge loan correctly can be a great benefit but used improperly it can also be a huge disaster.

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

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

Bridge Loan Basics

November 8, 2017Uncategorizedbridge loan, bridge loansbigdaddydennis

Selling a home to fund the purchase of a new home is stressful. But using a bridge loan can take a difficult situation and make it manageable for a short time.

Timing is everything when you are trying to sell your home and purchase a new one. But unfortunately the timing that you want does not always materialize for you. Having a full price or close to full price offer on your current home can make it much easier to decide to make an offer on the home you want for the future. But what do you do when you find your perfect next home before you get a decent offer on your current home? Some say you should pass on the new home but many will recommend that you use a bridge loan to finance your down payment until your current home sells.

When you are getting a bridge loan to cover the down payment on your next home, your current home is the security or collateral for the bridge loan. So this means that there is some risk involved if your current home does not sell. In short you could be faced with making two mortgage payments each month as well as the payment on the short term loan. For this reason you need to be very careful about the amount of debt that you are taking on and also very realistic about how long it could take to sell your current home. Not only are you risking both your current and new home but your credit score if you are forced to default on any of these loans. And you could even be left with no place to live.

A Solid Option for Many Buyers

But don’t look at a bridge loan as some evil entity that could cost you everything that you have worked your entire life to achieve. There are some advantages to using this short term loan. First, it lets you secure that perfect home before someone else buys it. You are then free to move in and enjoy the new house while you continue to market your first home. It is also beneficial to use a short term loan, such as a bridge, to make your offer more appealing to the seller. Many offers are contingent on another home selling and that is less appealing for other sellers. An offer with no contingencies might even be accepted at a lower offer price than a larger offer but which includes stipulations or contingencies.

Know Your Options and the Potential Downfalls

As with any financial decision, having as much information as possible is critical to making a wise choice. If you are thinking about taking a short term loan to make a down payment on your new home then consider all of the potential outcomes. Speak candidly to your listing agent to learn his or her estimate for selling your current home. Also look at comps in your area to see how quickly homes like yours are selling. Only sign a loan document once you are certain that you home will sell in a reasonable time frame and for a price that will cover your down payment.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

The Real Deal On Commercial Bridge Loans

June 22, 2016Uncategorizedbad crdit, bridge loan, commercial bridge loan, commercial loans, commercial propertybigdaddydennis

When you are looking into obtaining a loan from a
lender you have many options at your disposal. Many people go the route of the
bank, however, you do have hard money loans and commercial bridge loans, also.

From banks to life insurance companies, there are many
different routes you can take to get a loan for your business. Most of the time
people starting out in the commercial real estate business think the only way
they can get a loan is through a bank. Banks are great places to go, however,
it might take a while before you are approved for the loan you want. The
process can take several weeks to complete and even then you are not guaranteed
a loan at the end of the process.

Along with time constraints, you may not be approved
for the loan if your credit report is not favorable in the eyes of the lender.
Needless to say, if you have a couple of red flags on your credit report you
might have to shop around for more than one bank to pitch your business plan.
Some banks even go as far as doing a character check on some applicants. You
may think this is not so bad, but you might have done some unbecoming things in
college which may come back to the surface in your professional career.

Never
fear hard money loans and commercial
loans are here

So where can you go if you have these problems, then?
The easy answer you can go to a private lender that specializes in either hard
money loans or commercial bridge loans.
You can use these loans to get the property that you want fairly quickly. In
fact, a lot of investors starting out that do not have a ton of liquid assets
can use this route to begin their career. Generally, it is a little easier to
get either a hard money loan or commercial bridge loan.

What
makes commercial bridge loans and
hard money loans better?

Quite frankly they are both better when it comes to
your credit report. Most lenders do not care about your credit report. When it
comes to hard money loans most of the time the lender wants to make sure you
have some form of collateral that you can offer. This means to be qualified for
the loan

itself, you have to possess something of equal or greater value that could potentially be auctioned off.

This
happens in the event you cannot pay your loan back or you do not refinance it.
Often people that are in the real estate flipping business go for a hard money
loan; since they need to get financing quickly on properties. A commercial bridge loan is essentially the
same type of process as a hard money loan, however, you usually apply for one
while you are in between another transaction.

Say you have a home that you are in the process of
fixing up and selling. However, another home becomes available on the market that
you think would be a good buy. Applying for a bridge loan would be a good idea
just to hold you over until the deal you have with your buyer is done. Hard
money loans and commercial bridge loans
great for these types of investments since they only last a few months to a
couple of years, as well.

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
www.Level4Funding.com

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

The Real Deal With Commercial Bridge Loans

June 22, 2016Commercial Real Estatebridge loan, commercial bridge loan, commercial real estate, commercial real estate loans, hard money loanJoan Dahlberg

When you’re wanting into acquiring a loan from a
lender you could have many choices at your disposal. Many individuals go the route of the
financial institution, nevertheless, you do have hard money loans and commercial bridge loans, additionally.

From banks to life insurance coverage firms, there are numerous
totally different routes you’ll be able to take to get a loan for your small business. More often than not
folks beginning out within the commercial actual property enterprise suppose the one approach
they’ll get a loan is thru a financial institution. Banks are nice locations to go, nevertheless,
it’d take some time earlier than you’re authorised for the loan you need. The
course of can take a number of weeks to finish and even then you aren’t assured
a loan on the finish of the method.

Together with time constraints, you might not be authorised
for the loan in case your credit score report is just not favorable within the eyes of the lender.
Evidently, if in case you have a few crimson flags in your credit score report you
may need to buy round for multiple financial institution to pitch your marketing strategy.
Some banks even go so far as doing a personality test on some candidates. You
might imagine this isn’t so dangerous, however you may need carried out some unbecoming issues in
school which can come again to the floor in your skilled profession.

By no means concern hard money loans and commercial loans are right here

So the place are you able to go if in case you have these issues, then?
The simple reply you’ll be able to go to a private lender that focuses on both hard
money loans or commercial bridge loans.
You need to use these loans to get the property that you really want pretty rapidly. In
reality, a number of buyers beginning out that do not need a ton of liquid belongings
can use this route to start their profession. Usually, it’s a little simpler to
get both a hard money loan or commercial bridge loan.

What makes commercial bridge loans and hard money loans higher?

Fairly frankly they’re each higher in the case of
your credit score report. Most lenders don’t care about your credit score report. When it
involves hard money loans more often than not the lender needs to be sure you
have some type of collateral you could provide. This implies to be certified for
the loan

itself, it’s important to possess one thing of equal or larger worth that may probably be auctioned off.

This
occurs within the occasion you can not pay your loan again or you don’t refinance it.
Typically folks which might be in the actual property flipping enterprise go for a hard money
loan; since they should get financing rapidly on properties. A commercial bridge loan is actually the
identical kind of course of as a hard money loan, nevertheless, you often apply for one
if you are in between one other transaction.

Say you could have a house that you’re within the strategy of
fixing up and promoting. Nevertheless, one other house turns into out there available on the market that
you suppose could be purchase. Making use of for a bridge loan could be a good suggestion
simply to carry you over till the deal you could have together with your purchaser is finished. Onerous
money loans and commercial bridge loans
nice for a lot of these investments since they solely final just a few months to a
couple of years, as nicely.

Dennis Dahlberg Dealer/RI/CEO/MLO

Stage four Funding LLC
Arizona Tel: (623) 582-4444
Arizona Tel: (512) 516-1177
Dennis@level4funding.com
www.setabay.com

111 Congress Ave |Austin | Arizona | 78701

In regards to the creator: Dennis has been working in the actual property business in some capability for the final 40 years. He bought his first property when he was simply 18 years previous. He rapidly realized concerning the superb funding alternatives offered by trust deed investing and hard money loans. His need to assist others make money in actual property investing led him to concentrate on various funding for actual property buyers who could have hassle getting a standard financial institution loan. Dennis is enthusiastic about various funding sources and sharing his data with others to assist make their goals come true.

Dennis has been married to his fantastic spouse for 42 years. They’ve 2 lovely daughters 5 superb grandchildren. Dennis has been an Arizona resident for the previous 40 years.

Level 4 Funding Private Hard Money

Arizona, California, Colorado, Florida, Idaho, Oregon, Texas and Washington

Tag Archives: bridge loan

How to Finding Reputable Hard Money Lenders Can Benefit You

Pros and Cons of a Bridge Loan (benefits and risks)

There are benefits and risks to obtaining a bridge loan prior to moving out of your old home and into your new dream home. Make sure you understand what they are with these easy tips.

The pros outweigh the cons when it comes to these loans.

You’ll need to go through a mortgage broker or private lender.