3 Questions To Ask Potential Hard Money Lenders

There are a huge number of Arizona Hard Money Lenders out there to choose from. The best way to select the lender that is right for you is to have a list of interview questions prepared to as each lender that you are considering.

With the growing popularity of hard money, there are a vast number of options for borrowers who are ready to select a lender. And the only way to know that you have made the right selection is to conduct an interview process with all of the Texas Hard Money Lenders that you are considering. And to make the process as simple and fast as possible, having a list of questions prepared will be a huge help and will also show each lender that you are well prepared, professional and ready to make a deal.

Your first concern should be that all of the Texas Hard Money Lenders are licensed, bonded and insured. You should also verify that each one holds a valid Real Estate Brokers License in the state that you are in. These documents and licenses will tell you a great deal about the professionalism, level of knowledge and level of professionalism that you can expect from the lender. In addition, it is almost certain that any lender who is licensed is not working simply to scam potential borrowers and make some easy cash.

The next concern should be the total cost to borrow money from each lender. The level of transparency of each lender is critical. A lender who is willing to provide you with a written list of all fees and finance charges is confident in his or her business and business practices. This person offers complete visibility into the loan process and loan costs and is likely to be very easy to work with and honest. A lender who is not willing to disclose information about the total cost of the loan is often doing something that might be considered underhanded or shady. And you should expect some hidden costs to appear at some point during the life of the loan.

Timing Can Be Critical

Most borrowers seek hard money because they need to get the loan quickly to close a deal. But not all lenders process the loan request at the same speed nor do they all fund as quickly as you might expect. When you are interviewing is the time to learn about each lenders application and approval process and timeline. And if that is satisfactory, then inquire about the length of time it will take to get the loan funded. Sometimes fast is good enough, but other times it is worth paying extra for a super-fast funding loan.

Find Your Perfect Balance

When you are evaluating Arizona hard money lenders, the purpose of the process is to weed out the undesirable candidates and then learn as much as possible about all of the lenders that appear to be on the up and up. With that information, you can determine which lender offers the best balance of cost and customer service to meet your needs.

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC
Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Hard Money Lender

Hard Money Loans

Hard Money Loan

Arizona Tel: (623) 582-4444

Texas Tel: (512) 516-1177

Dennis@level4funding.com

Dennis Dahlberg Broker/RI/CEO

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.