Hard Money Lenders in Arizona

If you’ve been considering acquiring hard money loans in Arizona due to their relative speed and flexibility, then you probably already know that hard money in Arizona isn’t available to all borrowers. While the exact requirements may vary between lenders who process hard money in Arizona, here are the general guidelines that will help you determine whether you qualify for hard money loans in Arizona…

Hard money in Arizona is for real estate professionals.  Borrowers who’re seeking financing for a private mortgage do not qualify for hard money in Arizona. Generally, hard money in Arizona is only available to real estate professionals who’re using the funding to purchase investment properties.

Hard money in Arizona are asset-based loans.  This means that the borrower’s personal credit history isn’t a factor when the lender is deciding whether to approve an application for hard money in Arizona.  Instead, the lender looks at the value of the property, and this property is then pledged as collateral for the hard money loan.

Which brings us to the next point…

Hard money in Arizona is available for specific types of properties.  Because Arizona hard money loans are asset-based loans, not all properties qualify for this type of funding.  Generally, hard money in Arizona is available for single family dwellings, small multi-family dwellings, condos and townhomes.

Some of the tips on getting hard money loans in Arizona can be found here  at http://www.activefundinggroup.com/AZ/hard-money-loans.html

So, what types of properties usually do NOT quality for hard money in Arizona? Again, you’ll need to check your specific Arizona hard money lender’s policies, but here’s an overview:

•    Mobile homes
•    Larger multi-family properties (e.g., over four units)
•    Vacant land (includes entitled land, un-entitled land, custom-home lots and platted lots)
•    Construction projects
•    Partially constructed properties
•    Owner-occupied properties (e.g., Even if the property is a single family home, it won’t quality for hard money in Arizona if it’s being used as a private residence.)

Keep in mind that no matter what type of property you’re purchasing with hard money in Arizona, your hard money lender will need access to both the interior and exterior of the property to perform an inspection (certain Trustee Sales may be excluded).

In sum…

Hard money loans in Arizona aren’t right for everyone. However, if you’re a professional real estate investor who appreciates loan flexibility and is purchasing an investment property, then you’ll want to consider hard money in Arizona.  You’ll also want to check out the Active Funding Group, which is the largest specialty financing company in the Southwest US. You can visit their business overview right now by going to http://www.activefundinggroup.com/arizona/business-overview.html