You might be thinking of going to a regular bank to get your loan, but if you choose to seek your credit from
Arizona Commercial Hard Money Lenders, you might be able to snag a few benefits.
Arizona Commercial Hard Money Lenders base the approval for your loan on assets, usually those concerning real estate, rather than your credit score, income, tax returns, and other data. If you’re looking to get a loan for a new property, you might want to go down this avenue for a number of reasons.
There are a number of benefits to choosing a commercial hard money loan over a regular mortgage or bank loan. These can be broken down into five significant advantages.
1. The basis for approving your loan is not associated with the many issues a bank will ask for. If you have real estate assets but you also have bad credit or a low income, a commercial hard money loan will be easier for you to get.
2. Upfront fees for this type of loan are slim to none, unlike with bank loans that require lots of upfront fees in terms of inspections, application fees, and more.
3. You will not be required to put together the amount of documentation for which you will be required to do when purchasing a business or commercial property through a regular bank loan.
4. You can often get one of these loans for a project that has been turned down by a traditional lender, such as a bank. If you can’t get this kind of approval, it may be time to speak with a hard money lender.
5. Hard money loans are approved much more quickly than traditional loans. While most people who seek traditional loans have to wait two, even three months to get their approval, you will be likely to get yours in a week or two.
Can you see the ways you can benefit from a commercial hard money loan? If you have a property you want to close on fast and you don’t want to deal with the hassle of paperwork and fees, this is the best choice for your needs.
We can offer all the information you need about commercial hard money loans as well a quick and easy process for your lending needs.
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.