If you’re new to the world of loan lending and money borrowing, you may not know the best type of money lender for you. Many people dive into the world of public money lenders, when Arizona Commercial Hard money lenders provide many lesser known benefits to various land investment projects.
When you think of loans, you may think of traditional, public money lenders like your local bank or credit union. However, they are not your only option. Oftentimes, borrowers seek out private hard money lenders because they don’t meet the strict requirements of banks and credit unions.
The first meeting you have with your possible loan lending may be extremely intimidating. It will be necessary for you to gather important paperwork including your income, job history, credit score, and finance history, including your debt to income ratio. Meeting with a bank can be intimidating and trigger your anxieties related to your investment.
Still, private hard money lender provide options for everyone, whether or not you are concerned about your credit score or not. Financial flexibility isn’t the only thing you’ll be thinking about as you move forward with your commercial investment project.
Hard money lenders offer a few things public lenders cannot:
Arizona Commercial Hard money lenders do come with a cost. Because they provide you with a quick process and a process that adapts to your needs, they have higher interest rates than others on the market. While some borrowers can afford the cost, it is especially important to see how the higher interest rates impact your plans and ability to complete your investment. Additionally, you need to consider the short repayment period. Hard money lenders are known to be flexible and will likely work with you if you need an extension, though the typical loan repayment period for hard money loans is one year.
Arizona Commercial Hard money lenders in Phoenix include those of us at Level 4 Funding! We consist of a team of qualified mortgage brokers who can help you with your commercial investment in Arizona or Nevada. There are no upfront fees and it costs nothing to call and ask about our hard money purchasing loans and other commercial loans. Give us a call today and see how we can help you!
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.