Owner occupied loans are loans made out to individuals looking to buy or refinance residential property. A primary requirement for receiving an owner-occupied loan is that the buyer/refinancer is going to live on said property. There are a great many reasons why individuals may seek owner occupied had money. Whether to acquire a new home, fix an existing home, or manage debt, many have felt the comfort of being able to find a financing solution and enjoy the home that they deserve.
Acquiring a home. Many times, people get tired of renting and living in a small cubical. The time comes to stretch out one’s metaphorical wings and find a new place to live. Especially now, with property shortage, internet pricing, and more individuals moving to urban areas, the cost of renting is sometimes equal to or higher than a house payment. However, many people are stuck in a renting scenario because the are unable to verify enough time on the job, have unconventional employment, or abysmal credit, maybe even all of the above.
Owner occupied hard money loans help individuals get the property they want when they need it. They no longer have to wait on the banks. They no longer have to bend to the mandates of immaculate credit. Refinancing. Sometimes, debt accumulates. Credit cards, loans, debts, interest rates. Refinancing especially with owner occupied hard money loans can consolidate debt. It can limit the amount of interest paid on a house. Aside from Acquiring and refinancing, owner occupied homes allow many to start building on property.
Finally, bridge loans. These loans help owners move into a new home until the old home sells. They usually have a duration lasting between three to twelve months. Opposed to long-term funding agreements which can span years, these types of owner occupied hard money loans are concerned with providing short-term financing for acquiring property. The word bridge indicates an intermediary period between hard money and conventional lending; since bridge loans are expensive, borrowers tend to enter into such financing agreements with the mindset of paying loans off quickly or bridging to a long-term source of financing later.
Talk to your hard money lender today at Level 4 Funding to apply for owner occupied hard money loans that are right for you. Don’t wait on the bank’s tedious process. Get approved within days.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis Dahlberg Broker/RI/CEO
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.