As home rehabs have become a huge deal over the last few decades, more and more people are looking for Arizona renovation loans to fix up a property. Whether it’s a quick flip or a place where you’ll stay for a bit, a loan can help you get it done.
Ever looked around your home and gone, “it’s seriously time for a renovation?” We have no data to back this up, but we posit there’s been a marked increase in these renovation thoughts ever since HGTV became a thing. You watch a couple turn a hideous home into a magazine photo layout and suddenly your pink countertops and green carpeting start looking even more outdated.
Renovations aren’t just about improving your home’s aesthetics, either. Buyers want the latest and the greatest and they’re willing to pay more for it, so doing a home rehab can increase its value by quite a bit more than the money you put into it. In fact, there’s not really a downside (except for maybe the blood and sweat you’ll expend if you do it yourself).
But home renovations are expensive. Where can you get the dough to make upgrades? Let’s take a look at some options.
● Banks. Banks sometimes offer home Arizona renovation loans to qualified borrowers. The key word here is “qualified.” They’re the big guys, so they generally get to call the shots. Have a low credit score? You might be out of luck. Had a foreclosure in the past? They might show you the door. Don’t have a big fat paycheck? You might be persona non grata.
● Hard Money Lenders. Hard money lenders usually have a more “mom and pop” feel. They use money from private investors and many specialize in lending money to people who want to flip homes, do renovations, and be a part of the real estate game. They’re not the big guys — they can sit down and listen to your story, hear your plans, and get fired up with you. They’re not bound by as many restrictions as the banks and borrowers use collateral to secure loans, so they aren’t as concerned with your credit, your past history, or your current bank statement as the big banks.
Arizona renovation loans might not be for everyone. But, if you’re ready to increase your home’s value or rehab a property, they might be perfect for your situation. There’s one easy way to find out — give us a call or shoot us an email today to talk about your project.
Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About: 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.
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