Private Money Lenders Arizona – The Ultimate Real Estate Investing Loan Problem Solver
You take a loan out for the initial term and you can have up to two extensions at the borrower’s discretion not at the lender’s discretion as long as you are in terms and trusted you are not outside of those terms. That is another reason why real estate investors love working with Private Money Lenders Arizona.
You see there are so many lenders out there that are looking first off at you as the borrower and they want to go the borrower. Not only do they want to look at your credit scores and look at your history and look at your payments and your late they also want to look at what your income is and if you have a job and how long you had that job for. They also want to look at your tax returns and your W-2 statements. They want a blood sample and a urine sample and they want to know your kid’s middle name and fill out applications and stacks and stacks and stacks of paper work.
You see our friends at Private Money Lenders Arizona; they do not really care about all that. They lend based upon the property not based upon the individual. The only qualification that they have to lend to you or not is to make sure you do not have judgments because judgments will attach the property and if you have judgments that creates a nightmare when it comes to the property because they will attach. Other than that credit scores are not the problem. How many lates are not problems? What your blood type is is not a problem and I have to mention that application process in online it is easy. You can do electronic signatures and it is all of four pages that you have to fill out. Three of which are pages that you will fill out. Two of which are about the property and then one of which is about you and that is all how simple it is.
Now the other thing that is very simple with private money lenders and why they are the solution to your real estate investing needs is because they will lend 100% of your purchased price. You heard me right 100% of your purchased price. There are so many people out there that say it is impossible to get 100% financing on a real estate investment property and I am here to shatter their dreams and tell you it is absolutely true. You can get a 100% financing or a real estate investment property. The key to that is to make sure you are buying the property right.
If you are buying a property and lets say the property does not need any repairs and it is going to be worth $100,000 they will lend $70,000 if it is a single family home. So if you are buying the property for $70,000 you will be able to get 100% financing in that scenario. If you are buying the property for $75,000 you will still be able to get $70,000 financing, which means you have to put $5000 down in order to make a transaction happen but the 100% financing is there if you are able to make a property work. If you are able to buy it right.
The other think that is important about how Private Money Lenders Arizona is a solution to you real estate investment, rehab and retrial lending needs is that they will qualify the property and give you an absolute guarantee that they will fund on the property prior to you making an application. So you can get what is called a property approval, which guarantees funding on the property.
Now the property approval does not guarantee an exact amount. It only guarantees that funding is guaranteed on the property. The exact amount of what can be funded on that property is established once evaluation is done by having some one on the ground, go look at the property and establish a final value and at that point the final value of what can be lent is determined. But prior to doing that you can get an absolute guarantee that funding will happen on the property with property approval.
Let me tell you why real estate investors chose hard money lenders is because they do not have to make any monthly payments. So for the initial terminal loan no monthly payments are required whatsoever. Loans range anywhere from a month up to six months and there are no monthly payments required whatsoever. Another reason why Do Hard Money.com is the lender of choice for rehab and retail investors is because they offer two guaranteed extensions.
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