Just like the structure they’re named after; Arizona Bridge Loans can get you from one place to another safely and securely. Here are some of the top reasons people use this type of loan.
Arizona Bridge Loans are short-term loans that get people and businesses from one asset to the next. They usually come with terms between 3 and twelve months and are helpful in a wide range of circumstances:
● Buying a new home before selling the old one. There are many reasons people might need to move to a new home, perhaps because of a job relocation, a growing family or sometimes a divorce. They may need to move before they can sell the old home, either because of some emergency or because the market just isn’t right to sell the previous residence. A bridging loan can provide the funds to purchase a new home while the old one is for sale.
● Turnaround financing. Businesses that are struggling often come up with plans to right the ship. Those plans cost money and struggling business oftentimes don’t have the liquidity to pay for restructuring. These types of loans can rescue a sinking ship.
● Funding while waiting on conventional financing. Because of complicated underwriting processes, banks often take a long time to approve and fund loans. Borrowers might need to act quickly to move on a great property deal and don’t have time to wait. Loans of this type can be a stopgap until traditional funding comes through.
● Cash flow stabilization. Slow seasons can be hard to weather for some companies. They need funding to stay afloat until the busy, lucrative season starts again. Loans like these can help a business survive the lean times.
These loans might not be a solution for every situation, but they can be lifesavers for the right scenario (like those detailed above). Rescuing a business, staying afloat during a lull in sales and helping you move to a new home while you sell the old one — these are real life situations where a hard money loan can be a blessing.
Level 4 Funding offers Arizona Bridge Loans for many of these common scenarios. You’ll find loans up to 90% loan to value, rates under 8 percent and terms as short as 3 months and as long as 24 months. Contact us now to find out how we can help.
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.