Setabay Private Hard Money Lender

Saturday, April 13, 2019

Get Property Fast—Owner Occupied Hard Money Loans

Owner occupied hard money loans help individuals get the property they want when they need it. They no longer have to wait on the banks. They no longer have to bend to the mandates of immaculate credit. Get yours today through Level 4 Funding!

Owner occupied loans are loans made out to individuals looking to buy or refinance residential property. A primary requirement for receiving an owner-occupied loan is that the buyer/refinancer is going to live on said property. There are a great many reasons why individuals may seek owner occupied had money. Whether to acquire a new home, fix an existing home, or manage debt, many have felt the comfort of being able to find a financing solution and enjoy the home that they deserve.

Acquiring a home. Many times, people get tired of renting and living in a small cubical. The time comes to stretch out one’s metaphorical wings and find a new place to live. Especially now, with property shortage, internet pricing, and more individuals moving to urban areas, the cost of renting is sometimes equal to or higher than a house payment. However, many people are stuck in a renting scenario because the are unable to verify enough time on the job, have unconventional employment, or abysmal credit, maybe even all of the above.

Owner occupied hard money loans help individuals get the property they want when they need it. They no longer have to wait on the banks. They no longer have to bend to the mandates of immaculate credit. Refinancing. Sometimes, debt accumulates. Credit cards, loans, debts, interest rates. Refinancing especially with owner occupied hard money loans can consolidate debt. It can limit the amount of interest paid on a house. Aside from Acquiring and refinancing, owner occupied homes allow many to start building on property.

Owner Occupied Loans Help Real People Get the Right Property

Finally, bridge loans. These loans help owners move into a new home until the old home sells. They usually have a duration lasting between three to twelve months. Opposed to long-term funding agreements which can span years, these types of owner occupied hard money loans are concerned with providing short-term financing for acquiring property. The word bridge indicates an intermediary period between hard money and conventional lending; since bridge loans are expensive, borrowers tend to enter into such financing agreements with the mindset of paying loans off quickly or bridging to a long-term source of financing later.

Level 4 Funding is here to help you qualify for owner occupied hard money loans today. Don’t wait on the bank. Don’t let marred credit stop you from finding the home that is right for you. Owner occupied hard money loans have helped many and can help you too.

Talk to your hard money lender today at Level 4 Funding to apply for owner occupied hard money loans that are right for you. Don’t wait on the bank’s tedious process. Get approved within days.

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.

Saved By an Arizona Bridge Loan

I had just turned 40 when my father died and I inherited his home. It was a difficult time for our family. And to add to the stress, I had just recently decided to purchase my first home.

Along with the sudden death of my father I was also thrown into a whole slew of new financial responsibility. Being an only child, with an extremely small family, I inherited my father’s home. This had been my childhood home and along with many good memories came the wear of those memories. The house hadn’t appraised for much and needed an enormous amount of rehabilitation.

Because I now owned this home that had numerous mortgages taken out on it, and still owned the bank money, I was told by the bank I would not qualify for a second mortgage and would need to sell my inherited home before applying for a mortgage. I was mortified. I had outgrown my small apartment and saved for a small down payment. I couldn’t live in my childhood home because it wasn’t even safe to live in. I had found myself in quite a pickle.

How You Can Buy A New Home Before Selling Your Old Home

After talking to more attorneys and loan officers than any sane person would want to experience—I was given some gold information. The last loan officer I spoke to asked me if I had considered an Arizona Bridge Loan. He explained that it was an interest-only loan that I could take out while making repairs and selling my father’s home. It sounded perfect and I could not believe no one had offered me this until now.

However, because of a recent bankruptcy I did not qualify for the Arizona Bridge Loan. I was so disappointed and was feeling helpless. I began Googling Arizona Bridge Loans to find out if another bank may qualify me. As I began googling I found myself reading about Arizona Hard Money Loans. I had always though Arizona Hard Money Lenders were sharks. They were the guys in all the gangster movies. Well, come to find out—they aren’t. They are actually nice, normal people that have money to loan and will do so, regardless of a borrower’s credit or income, if they believe it will make a good return. They are simply investors—just as the people that invest on Wall Street.

I was approved within 24 hours for an Arizona Bridge Loan.

Because an Arizona Hard Money Lender determines a borrower’s eligibility based on their assets versus their credit and income the approval time is very quick. I was funded within a week after finding my new home. The Arizona Hard Money Lender based his decision on my hard assets—which were my properties. I was able to pay the interest only on my father’s home which left me with enough to pay my new mortgage. I was also able to tack on financing for the rehab of my father’s home—making it possible to sell. Once, I sold my father’s home I was able to pay the Arizona Bridge Loan off without penalty and profited what was left over. If it wasn’t for my Arizona Hard Money Lender helping me, I would very easily have been living in my childhood home for many years.

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.

You Can Own Multiple Rental Properties With Less Stress

Most banks will tell you that four investment, or rental, properties is the maximum amount of properties a borrower can finance. However, that is not 100% true.

There are ways an investor can finance multiple rental properties (more than four). Banks are skeptical of lending to more than four properties. Truthfully, there are some banks that will finance more than four investment properties, but it takes a lot of energy and research to find these banks.

Technically, Fannie Mae guidelines state that investors are able to get loans on up to 10 properties. However, banks will tell you they cannot authorize a fifth mortgage, let alone a sixth or seventh. The reason behind the banks creating their loan stipulation is that beyond four mortgages is just too risky. Even if you find a bank that is willing to work with you through financing over four mortgages most banks will only allow a 70% loan to value ratio and most likely will not allow the borrower to take out any cash when or if they choose to refinance these properties.

So Where Do I Go When The Bank Says No To Financing Multiple Rental Properties?

If the bank has said no or can’t give you the terms you need and you don’t have a substantial amount of cash upfront to purchase the properties, an Arizona Hard Money Loan can open up an avenue of lending you may have not been a part of before.

Arizona Hard Money Loans are short-term loans that many investors use to finance a real estate investment project. There are many advantages in using Arizona Hard Money Loans. The convenience of the loan application process can be a project saver. Applying for a conventional mortgage is time consuming. It can easily take months to close on a loan from a traditional lending institution. After approval hard money is typically funded within 2 weeks. Along with the ease of the loan process—Arizona Hard Money Loans have flexibility. Unlike, banks Arizona Hard Money Lenders are able to use flexibility in their loan terms—meaning there can be some negation of the loan terms. An Arizona Hard Money Lender is one person. That means you are dealing with only one person versus an entire team at a bank.

Arizona Hard Money Lenders have no regulations stating how many mortgages they are allowed to approve to a borrower. As long as the borrower has the collateral they will continue to be approved by an Arizona Hard Money Lender. The collateral is typically the collateral the lender uses to secure the loan. There are some lenders that approve of retirement accounts and personal assets to secure the loan. Again, there is flexibility. Once an investor works with the Arizona Hard Money Lender, and they create a personal relationship, terms can improve—this is based on personal trust.

An Arizona Hard Money Loan allows an investor to continue to grow their portfolio.

Real estate investment is an avenue to wealth. Understanding how Arizona Hard Money Lenders operate and forming a relationship with a lender can change your financial world.

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.

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.

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.