Setabay Private Hard Money Lender

Saturday, April 13, 2019

Forget the Banks—Get Residential Hard Money Lenders

Forget conventional lending and their numerous stipulations. Residential hard money loans are able to fill a wide variety of finance needs for varying ranges of individuals with varying credit scores. Get funded through Level 4 Funding, your hard money broker. Find the residential hard money lenders that are right for you today. Finance in days what normally takes months.

Residential hard money lenders lend money to individuals who offer their homes as collateral. The equity in the borrowers’ homes will be used to back hard money lenders in the advent of failed payments. Residential hard money lenders are a great option for those unable to acquire a conventional loan since, sometimes, conventional residential lenders just won’t finance the needed amount or individuals just don’t meet certain financing requirements.

There are many reasons why people struggle obtaining conventional residential 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.

For these reasons, many individuals petitioning for residential loans are: those in need of a home and also looking to sell their current home; those who have faced bankruptcy, foreclosure, or short sale; those dealing with a troublesome property; those buying a house for the first time; those looking to refinance; those looking to remodel a personal home; and those looking to consolidate debt.

Residential Hard Money Lenders Create Opportunity

Bridge Loans are another category of residential hard money lending. Sometimes individuals have a mortgage and are looking to buy another home. The time it would take to get approved through conventional residential lenders along with selling the current home would take many months, a time period in which the newly desired property would most likely be sold. In this instance, residential hard money lenders allow individuals to buy anew home while waiting for the old one to sell. Sell an old home from the comfort of the new.

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.

All in all, residential hard money loans are useful because they fill a wide variety of finance needs for varying ranges of individuals with varying credit scores. Get funded through Level 4 Funding, your hard money broker. Find the 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.

The Real Deal on Hard Money

You’ve heard the term “hard money.” But, what exactly is hard money? In simple terms, hard money is a loan that is secured by the borrower’s real estate from a non-traditional lender.

Arizona Hard Money Lenders play an indispensable role in financing a variety of real estate deals. Arizona Hard Money Lenders are private lenders that have money and lend to investors at a slightly higher interest rate. The lenders are not insured by the FDIC, as traditional lending institutions are. Therefore, they charge a higher interest rate in place of the void of insurance.

Compared to traditional banks, Arizona Hard Money Lenders not only have higher interest rates, but they have shorter terms. Arizona Hard Money Loans are for short-term use. The vast majority of these loans’ terms are between six months to a year—however, depending on the situation can often have a three to five year agreement.

What’s The Benefit Of An Arizona Hard Money Loan?

You may be asking yourself, “why would anyone use an Arizona Hard Money Loan when they can just as easily get a loan from the bank and receive lower interest rates?” Well, there are a plethora of reasons borrowers turn to Arizona Hard Money Lenders.

Arizona Hard Money Lenders can approve and fund a borrower much faster than a bank. It can take weeks and often months to be approved by a bank—and even after that, you can easily wait up to 90 days to close. An Arizona Hard Money Loan can be approved in as little as 24 hours and disperse funds in under 10 days.

The underwriting process is much more lenient because Arizona Hard Money Lenders do not have to follow federal guidelines. This speeds up the approval process; often a third party appraisal is not required to purchase the property.

Very few banks will touch a fix and flip property. Because these are homes that are distressed and will not be inhabited by the borrower the banks view these rehab projects as too risky. However, a fix and flip loan is a fantastic option for an Arizona Hard Money Lender to lend work with—fix and flip projects are very short-term making the loan terms of an Arizona Hard Money Loan valuable.

Banks rely heavily on the borrower’s credit score and income; whereas an Arizona Hard Money Lender’s focus is on the value of the property. The value of the property is what is backing an Arizona Hard Money Loan. The hard assets insure the lender will have their money returned. In case of default the Arizona Hard Money Lender can sell the property and make their money back.

The benefits of hard money are vast. For a borrower with good credit, employment and a high enough income looking to purchase their primary home an Arizona Hard Money Loan wouldn’t necessarily benefit them.

However, if a borrower needs money quickly to compete with cash buyers, if they are real estate investors or they need a chance to clean up their credit— an Arizona Hard Money Loan could aid them immensely. Hard money is not for everyone but, it is very useful for those borrowers in need.

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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Make More Money with Spec Home Financing

Make money with spec home financing: With a growing housing market and a growing number of individuals selling homes from positive equity positions, there is an influx of individuals looking to move immediately into a new and reliable housing after selling their former properties. Spec homes, are fulfilling this niche. Since spec homes are based off of a generic, reliable, and cost-effective plan, individuals itching to find a new home within a short amount of time tend to find spec homes to be secure, new, and reasonably priced answer to their market demands.

2018-2019 has brought with it an era of economic stability and a growing stock market. Due to the favorable upward movement in the economy, more people are purchasing real estate. Individuals are chomping at the bit to get a hold of reasonable property that is priced much higher than real estate just a few years ago.

Many experts point that this increase in pricing is a sign of increased real estate demand in the presence of limited real estate opportunity. High demand and short supply, otherwise known as a housing shortage has led many to believe that spec homes and other types of building are the answer.

Spec homes come as a surprise to some who remember the Great Recession, a period where cheap foreclosed and short-sold properties were in great abundance. Grabbing a home, adding a coat of paint and a few quick fixes offered a great return margin for either flipping to sell or rent. The glamor of gaining a relatively quick buck made many of the TLC stars famous. However, today in 2019, flipping has become more difficult. Getting distressed homes from conventional post-recession is challenging. Margins have shrunk as a whole. On top of that, the sensationalism of TV’s get-rich-quick mentality has driven many novices to try their hand in the business.

Hard Money Drives Spec Home Financing

Instead of flipping, spec homes offer greater returns for those steeped in construction experience. Those that know haw to organize the whole of the building process. With a growing housing market and a growing number of individuals selling homes from positive equity positions, there is an influx of individuals looking to move immediately into a new and reliable housing after selling their former properties. Spec homes are fulfilling this niche. Since spec homes are based off of a generic, reliable, and cost-effective plan, individuals itching to find a new home within a short amount of time tend to find spec homes to be secure, new, and reasonably priced answer to their market demands.

Talk to your hard money broker today at Level 4 Funding and take advantage of the millions dollars available to you in spec home financing.

Tap into the Bull Market. Get spec home financing. With the help of your hard money broker at Level 4 Funding, you can get spec home financing and develop the properties in your area that are able to secure strong returns. Talk to your hard money broker today at Level 4 Funding and take advantage of the millions of dollars available to you in spec home financing.

Friday, April 12, 2019

Personable and Face-to-Face Service from Private Money Lenders

Escape the digital and return to the age of face-to-face conversation. Deal with an individual on a personal level without having to go through bureaucracy, lines, or screens. Face-to-face. Don’t wait in line at the bank or call into an organization who has outsourced its phone-answering services to India. Talk to private money lenders. Get an answer in days, not months!

Analog is dead. Congratulations, you live in the digital age. You live within arm’s length of a computer and a cellphone. Dial-up internet, wall phones, and CDs are dead. To interact with the world around you, you have to look into tiny little screens, answer phone calls at all hours of the day, and no longer have to have face to face conversations. Texting, email, social media, telemarketers calling at midnight. Amid the utopia or dystopia of all things digital, you even have a credit score.

That’s right. Within minutes, banks and many other large institutions can peek into your financial information and judge you. Good debtor or bad debtor? Divorce, foreclosure in the downturn, short sell? Too bad. You’re credit score got wrecked. On top of that, your chances of getting a loan are slim. The banks may run from or shrug you off.

So, what do you do? Are you an analog cowboy in a digital world? Do you long for the simplicity of the past? Good. Many people do. You’re in luck too. There are lenders who don’t look too deeply into your credit score—private money lenders. These are the guys who can get you out of a bind by extending the means of financing you need. Private money lenders are private investors. They are not tied to the Fed and its ups and downs. They are less confined by government restrictions.

Why Do People Prefer to Deal with Private Money Lenders?

Many people confuse private money lenders with hard money lenders. However, hard money lenders compile large sums of money from groups of individual investors in order to lend out money. Private money lenders, on the other hand, go at it lone cowboy raking in substantial, personal stores to lend out to debtors. Many people favor private money investors because there is usually one face who deals with the clients and loans out the money. This differs from waiting in line at the bank or calling into an organization who has outsourced its phone answering services to India. Deal with an individual on a personal level without having to go through bureaucracy, lines, or screens. Face-to-face interaction. Old-fashioned.

Talk to your broker today at Level 4 Funding to locate private money lenders that are right for you.

Don’t deal with automated call-in structures that leave you waiting hours to be attended. Talk to a human being, face to face, and get the lending you need from an individual you can trust. Private money lenders offer old-fashioned service that is quick and reliable. Talk to your broker today at Level 4 Funding to locate private money lenders that are right for you.

What Is An Owner-Occupied Property And How Can An Arizona Hard Money Lender Help?

An owner-occupied property is the primary residence one lives. A property with up to four units, as long as the owner lives in one, is also considered an owner-occupied property. A vacation home that is outside of the county a person lives is also identified as an owner-occupied property.

What exactly is an owner-occupied loan? These are loans where the borrower lives in the property for which the loan is being obtained. There are tighter regulations involved and longer waiting periods for mortgage loan approval when working with a traditional bank. Banks also focus solely on a borrower’s credit worthiness and income when determining loan approval. Most people are familiar with the immensely long process and never-ending paperwork when trying to obtain a conventional mortgage. If the borrower has had a recent loan modification, is self-employed or has less than two years at their current place of employment a bank will likely deny their application.

For these many reasons many borrowers choose to work with a hard money, or private, lender. Not only do borrowers use Arizona Hard Money Lenders because of deficits or marks in their financial history—many times it is for the speed of the process. Arizona Hard Money Loans can also help assure the buyer they will not miss out on an opportunity due to losing the property to a cash buyer.

Terms Of Owner-Occupied Arizona Hard Money Loans

Owner-occupied Arizona Hard Money Loans are intended for short-term use—usually three to five years maximum. The rates on an owner-occupied Arizona Hard Money Loan can vary. Typically, they run between 9.99% to 14.99% with 2-6 points on the loan origination fee.

There are some standard requirements for Owner-occupied Arizona Hard Money Loans. Income must be verified by a 3rd party and hazard insurance and property taxes must be impounded for the first year. Depending on the lender they may be a prepayment penalty and there are disclosure laws that give the borrower awareness of the loan terms before documents can be signed. Most lenders require at least a 20% down payment—however, each lender is different in their terms.

If you are in need of financing for your owner-occupied property and either don’t qualify for conventional lending or you need the financing quickly make an appointment to speak to a local Arizona Hard Money Lender.

There are several reasons a conventional mortgage may not work for you. However, that shouldn’t hinder you from buying if the time is right. Arizona Hard Money Lenders can give you many options and will help you determine which one is best for you. Don’t give up on what you want because the bank said, ‘no.’ Banks are not the only options and many times they aren’t the best option.

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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Why Use an Arizona Hard Money Lender?

Arizona Hard Money Lenders are individuals that have money to lend to projects. They will finance a borrower’s who bring projects to the table that an Arizona Hard Money Lender can anticipate will have a large return.

Why would anyone need an Arizona Hard Money Lender when they have a bank? Great question! There are many reasons to use hard money. A huge advantage to working with an Arizona Hard Money Lender is they do not focus on your credit report or your monthly generated income. Their focus is on your assets. Why? Because banks and individuals want to know they will have their money returned to them—while banks focus on “if” a borrower can pay the loan back, an Arizona Hard Money Lender focuses on “knowing” the money can be paid back. In plain language—your assets are their insurance. If a borrower defaults the lender can repossess the property and sell said property.

Arizona Hard Money Loans are short-term loans and, although there are situations where people in need of long-term financing use these loans temporarily, make the most sense for fix-and-flip investors. Fix-and-flip investors buy a property, quickly rehab it and sell it for much more than they purchased. These investors usually are in need of financing for only a very short period. Typically, Arizona Hard Money Loans are interest only loans with a balloon payment due at the end of the loan term. Most Arizona Hard Money Lenders do not impose an early payment penalty—meaning as soon as the property is sold the borrower is able to pay back the loan which decreases the pay back amount.

Benefits Of Using an Arizona Hard Money Lender

Arizona Hard Money Lenders can be more flexible in their loan terms than traditional banks can. These lenders do not have a standardized underwriting process. Each deal is appraised individually. Because of this flexibility lenders are able to adjust repayment schedules. An Arizona Hard Money Lender is one individual the borrower will work with— versus a team of people the borrower never sees at a traditional lending institution.

Arizona Hard Money Loans are closed quicker than conventional mortgages. Because their underwriting is much more lenient than a bank’s they don’t spend as much time on the loan application. They are focused on the collateral.

Arizona Hard Money Lenders work using a loan-to-value ratio. They keep this ratio anywhere between 50%-75% usually. However, in certain situations it can be up to 100%. If the borrower is buying an investment property, the lender will lend as much as the property is worth. Using this formula ensures the lender that in case of default the property can be sold back for the loan amount.

To find an Arizona Hard Money Lender you can do a simple google search of your geographic area.

If you are a real estate investor or plan on becoming one it will benefit your business to find a Arizona Hard Money Lender you work well with. Being connected to an Arizona Hard Money Lender will prove priceless, especially during times where fast cash is needed.

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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.