Beretta Only: Escape the Mandates of the Bank: Residential Hard Money Lenders in Arizona Are Here to Stay

Thursday, January 17, 2019

Escape the Mandates of the Bank: Residential Hard Money Lenders in Arizona Are Here to Stay

Danger the banks may not approve everyone, and if they don’t approve you, what do you do in the aftermath? Residential hard money lenders are here to save the day by offering financing solutions that you may not have been aware of.

Sometimes, conventional residential lenders just won’t finance the needed amount or individuals just don’t meet their financing requirements. There are many reasons why people struggle obtaining loans. One of the first factors is creditworthiness. Conventional lenders are adamant upon looking at credit history, looking into credit delinquencies, crossing Ts and dotting Is, and making sure that potential borrowers can provide the documentation, paperwork, income, work history, etc. to qualify for the money. While many are able to qualify for these competitive rates and get some of the lowest interest in the country, others are not. Others find themselves in a sort of lending limbo:

First, those that have a hard time proving income: self-employment can be seen as a risk to banks who find traditional and predictable jobs to be a healthy indicator of loan repayment. Conventional lenders also need to see a satisfactory period of employment to even grant a loan. If a self-employed individual is unable to prove sufficient income, or duration of income through documentation, funding is often withheld.

Second case, those buying their first home. Individuals may possess a favorable credit score. However, the amount of credit history backing the score and the number and amount of debts previously paid factor greatly into the conventional lending equation. If the history is too short, then the possibility of obtaining conventional lending diminishes. Third, those looking to refinance an existing loan. Fourth, those in need of remodeling a personal home since sometimes it takes a little extra to set in motion a remodel of the interior or exterior of a home and a credit score can get in the way. And finally, those who need to consolidate debts

Dreams come True with Residential Hard Money Lenders in Arizona

For these cases, residential hard money lenders offer a fortunate alternative. Bad credit, foreign citizenship, bankruptcy, foreclosure, the works. These do not necessarily prevent an individual from receiving hard money loans form residential hard money lenders.

Get funded through Level 4 Funding, your hard money broker. Despite being rejected by the banks and credit unions, you can secure the financial backing you need by using residential hard money lenders.

In order to qualify, applicants must be able to put 20-30% cash down, or otherwise be able to leverage assets equating to a similar value. Verification of three months of income is a must, whether by bank statement or tax return. Loan-to-value rates can reach as high as 70-80% in certain cases, and interest rates can start as low as 9.5%. Talk to your hard money broker at Level 4 Funding today and find the Arizona residential hard money lenders that are right for you.

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
Dennis Dahlberg Broker/RI/CEO

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.