Arizona hard money lenders go where banks won’t.September 24, 2012
Arizona hard money lenders are different from banksSeptember 24, 2012
Arizona hard money lenders go where banks won’t.
Have you ever found yourself in a serious financial situation? One of the hardest things to think about when you are faced with this crisis is how in the world are you going to get yourself out of this trouble and onto dry land again. You may have had a difficult past financially speaking, but that doesn’t actually predict your financial future. There is hope in the horizon for those who find themselves in these types of situations. If you need a quick Mortgage for a home or project, you can bet on an Arizona hard money lender
to help you out.
How Arizona hard money lenders work is they provide you a Mortgage without looking at your credit score or history unlike banks and other Mortgage agencies do. Hard money Mortgages are strictly equity-based and they use the home you are purchasing as collateral in order to ensure repayment. They take a big risk in providing you the money you need, but they understand your situation and want to help you live your American dream.
Arizona hard money lenders want to help YOU.
Arizona hard money lenders
will go where banks and other Mortgageing agencies wouldn’t even dare or consider. Rather, Arizona hard money lenders
are on your side and they want to help you out as best as they can. They will see that you receive what you are looking for whether it be a home or a construction project. Most of the time, they will Mortgage you money for buying a foreclosed home or short sale home, fix and flip projects, and other types of real estate investments. Don’t look for them to give you a Mortgage for some big hummer or lamburgini, but they will definitely help you restore your dreams of owning a house.
Typically, most hard money lenders have a little higher interest rates than traditional Mortgages. This is because the risk is higher by Mortgageing to you without checking your credit score and history, and other considerations. Arizona hard money lenders will, however, provide you a shorter Mortgage than normal (anywhere from 3-36 months) so that the higher interest rate from a bank won’t add up as quickly as a hard money lender. One thing to keep in mind is that an Arizona hard money lender will often approve you for a Mortgage of up to 80% of the property’s value in as little as 24 hours.