Hard money lender Arizona and private money lender Arizona are similar, that’s true, but they are also different and sometimes people tend to confuse one with the other because investors sometimes use the terms interchangeably when they really shouldn’t

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While both hard money lender Arizona and private money lender Arizona are asset based loans that have more to do with real estate than the financial stability of the borrower, they are both also from non-traditional lenders, that is to say, they are nontraditional loans that are not given out by a bank.

So how are they so different? Well, for one, hard money lender Arizona happens to be a group of people, not just one individual as with private money lender Arizona, but these lenders are all licensed to loan money. It’s just a matter of what kind of lender you want.

However, Private money lender Arizona is just that, private. The private money lender Arizona could be absolutely anyone from family to a friend to your business associate or maybe even just a professional whom you were referred to. How you are funded is agreed to by terms set by the private money lender Arizona and nobody else. That makes the loan easier to obtain than say, a traditional bank loan. However, interest can be higher. However, since these kind of Arizona hard money loans are usually a quick turnaround, you don’t normally need to worry about that.

That being said, a lot of hard money lenders Arizona do get their funding from private resources, which is why the interest rate is often higher. Hard money lenders Arizona are also much easier to find. So go out and try to find it!