If you have trouble with your credit and you need a Mortgage because you’re also having some trouble with money, don’t start to get upset. Get yourself an Arizona mortgage broker and they will tell you that this sort of thing can really happen to anyone and in fact, has happened to many people just within the past couple years. You may have heard –or noticed- that it is incredibly difficult to get a traditional soft money Mortgage from a bank. Not only is there a mountain of paperwork to figure out, but you might not even get the Mortgage after all of that. It’s a waste of time to even try, especially if your credit score isn’t wonderful.
That’s where a hard money lender comes in to save the day! A hard money lender can give you the money you need but without the hassle of the traditional bank Mortgage. These asset-based lenders, also known as private money lenders are going to be the best thing that ever happened to you. If you are in need of money and a great credit score, then bypass all the banking mishaps that could happen and stick to hard money lenders because they will get the job done right for you. Your Arizona mortgage broker will even tell you this.
While the interest rate of a hard money lender is more money than one from a traditional bank Mortgage, it is for a very good reason. You will get your money incredibly fast and so that in of itself is gift, but also consider the fact that you can pay back your hard money lender quickly in order to avoid a lot of interest stacking up.
Your hard money lender can be a great thing if you have had an issue with your credit in the past. Don’t even think about it anymore. Get the money you need and continue to live your life!Arizona Mortgage Broker Dennis Dahlberg