If you are exploring your options on the real estate market, you may be wondering what an Arizona Construction Loan is and what the benefits are compared to other loan options, like fix and flip loans. Read more below to find out how an Arizona Construction Loan can make all your dreams come true!
An Arizona Construction Loan can save you tons of time when searching for homes on the real estate market.
When you are buying a home, you don’t want to settle. After all, you will be living in it—if you don’t enjoy it or it doesn’t meet all of your needs, you won’t be happy and you won’t be able to live out your preferred lifestyle fully. Investing in a construction loan allows you to take your wants into your hands and build your dream home from scratch.
Sometimes the perfect home exists, but it’s not in a good neighborhood or the distance is too far from work. Sometimes a home meets all of your needs but details, like a small yard, end up being deal breakers. If you choose to build a home on a vacant lot, you will be able to design something that meets all of your needs. Perhaps you want two in-home offices, or you want an in-home gym or untraditionally sized bedrooms—you can get all of this by designing the home yourself.
Before just choosing any lot to build your dream home on, you will need to consider a few things. First of course there is location—do you want to be near school or entertainment districts? Do you want to live in a large social neighborhood or a quiet, isolated one? Additionally, you will have other locative aspects to consider, like if there are any curbs, sidewalks, power lines, and water lines nearby. All of these things are prime to consider when building and can be a deal maker or breaker in the building process.
Of course, before accepting the terms to an Arizona Construction Loan, you will need to consider more technical aspects of the property, like if there are any HOA requirements or limitations the city requires you to follow. All of these things are as important, if not more, as how many bedrooms you want in your home.
If you are seeking out construction loans in Arizona, you may be considering options from both public and Private Money lenders. Public money lenders are traditional options. They include banks and credit unions and have generalized standards when it comes to qualifying for loans. Unfortunately, they will not be able to work one on one with you in the way that a Private Money lender would be able to.
Private Money lenders have flexibility and speed when it comes to loan requirements. Because they consist of private lenders and companies, they are much more likely to be able to work one on one with you—which is something you may want when doing something as specific, personal, and unique as building your dream home.
If you are seeking a Private Money lender, give the mortgage brokers at Level 4 Funding a call. We offer Arizona Construction loansand the ability to work individually with you. 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.