Advice for Hard Money California seekers

 

If you’ve looked into the various types of Hard Money Loans, you may be feeling a little lost and overwhelmed. It can be an exhausting process to find a lender, fill out the paperwork, and then wait to get approved and receive your money. In fact, by the time this process happens, your potential home or property could be bought out from underneath you! With Hard Money California, this is not the case. Here are a few things you need to know about Hard Money California:

You can be in and out within 24 hours. Don’t worry about scheduling things weeks in advance and collecting tax information, pay stubs, etc. This loan isn’t based on income (in fact, you don’t even have to prove that you have an income), but is more collateral based. That’s why they can get you your money so quickly. There are no loan forms and many of the other logistics to worry about with Hard Money California.

The loans tend to be shorter than traditional loans. Perhaps for your last mortgage (or your current one) you have done a 15 or 30 year finance. With Hard Money Loans, that is not the case. For the most part, you can count on your loan being somewhere around six months (plus or minus a few).

You will probably get a loan anywhere from 50-70% of the property value. Of course, this number is different from person to person. However, when you are planning the purchase of your home or property, you can estimate that the dollar amount of your loan will be somewhere in this price range.

The Hard Money California Loan Process

Like I said before, the process is quick and easy. The team of loan specialists will get you in and out as quickly as possible. A few of the items Hard Money California considers when approving your loan are:

1. The location and condition of the property

2. Your ability to complete the project (if the funding is for a fix and flip)

3. Current and projected value when complete

4. Your information

5. The amount of assets and resources you have available to complete the project

These are just a few of the considerations, and all loan institutions are going to be different. Keep these things in mind when considering a Hard Money Loan.

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
www.Level4Funding.com
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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.