Why Do I Want Arizona Hard Money?
Hard money lender Arizona and private money lender Arizona are similar, that’s true, but they are also different and sometimes people tend to confuse one with the other because investors sometimes use the terms interchangeably when they really shouldn’t
While both hard money lender Arizona
and private money lender Arizona
are asset based loans that have more to do with real estate than the financial stability of the borrower, they are both also from non-traditional lenders, that is to say, they are nontraditional loans that are not given out by a bank.
So how are they so different? Well, for one, hard money lender Arizona happens to be a group of people, not just one individual as with private money lender Arizona, but these lenders are all licensed to loan money. It’s just a matter of what kind of lender you want.
However, Private money lender Arizona
is just that, private. The private money lender Arizona
could be absolutely anyone from family to a friend to your business associate or maybe even just a professional whom you were referred to. How you are funded is agreed to by terms set by the private money lender Arizona
and nobody else. That makes the loan easier to obtain than say, a traditional bank loan. However, interest can be higher. However, since these kind of Arizona hard money
loans are usually a quick turnaround, you don’t normally need to worry about that.
For this reason, private money lender Arizona can be more flexible than hard money lender Arizona as you typically know the person lending to you and you deal with them directly.
That being said, a lot of hard money lenders Arizona do get their funding from private resources, which is why the interest rate is often higher. Hard money lenders Arizona are also much easier to find. So go out and try to find it!
Level 4 Funding LLC
Tel: (623) 582-4444 | Fax: (888) 279-6917
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027