Arizona Commercial Hard Money Lenders are not the solution for every borrower. But there are several situations when hard money is a great option.
Traditional loans are generally more cost-effective than hard money, but there are many reasons that borrowers are often eager to work with Arizona Commercial Hard Money Lenders. As you might expect, you get what you pay for in hard money just as you do in most cases. And getting a more customizable loan is often worth paying a little extra for. In addition, borrowers know that their personal credit history will not be an issue as Arizona Hard Money Loans are based on the value of the collateral.
Getting a commercial loan quickly is not going to happen if you are working with a bank or mortgage company. But Arizona Hard Money Loans can process much more quickly because the approval is based on the value of the commercial asset and not the creditworthiness of the borrower. So in many cases, a borrower will gladly pay the higher rates for the faster funding offered by. Arizona Commercial Hard Money Lender
Another reason borrower turn to Arizona Hard Money Lenders is that they have been declined by a traditional lender. This could be due to lack of documentation, the age of the business or even the debt load of the business. You could also have personal credit issues which reflect poorly on your business and have caused a bank to shy away from working with you. In these cases, borrowers have the option to use the commercial property as collateral and are happy to work with a hard money lender.
Most traditional lenders are not very creative and will only fund a very specific type of loan. But if you are looking to use multiple properties as collateral or if you need a more creative loan solution, then Arizona Commercial Hard Money Lenders are the way to go. Not only can you be more creative with the collateral for the loan but you can also request specific loan terms such as the repayment schedule or even the term of the loan. Arizona Hard Money Lenders are very familiar with creative loan terms and are willing to work with borrowers when traditional banks are not.
There are many businesses in the United States that are owned by foreign nationals. And while this is a great opportunity for the business owner, it makes it very difficult for him or her to secure a loan from a bank or a mortgage company. But working with an experienced hard money lender, borrowers don’t need to worry about not being a U.S. citizen. Again, the lender is interested in the value of the property being used as collateral and not the credit history of the borrower. So, a foreign borrower has very little to do with the approval or denial of a hard money loan. Understanding these five reasons to use commercial hard money can be a great help to any commercial borrower who is struggling to secure a loan from a traditional bank or a mortgage company.
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.