Securing Hard Money Loans In Arizona

Are you a real estate investor? Do you specialize in acquiring properties through short sales

, Trustee sales, bank-recovered assets and similar acquisition vehicles? If so, then you are probably a candidate for securing Arizona hard money loans. And if you are unfamiliar with Arizona hard money loans, then you will want to keep reading to get your questions answered.

What are Arizona hard money loans? Arizona hard money loans are those which are typically used to purchase investment properties. Arizona hard money loans are asset-based loans, meaning that the Arizona hard money lenders base their financing decision on the value of the asset rather than on the borrowers personal credit history. So while the borrower does need to guarantee repayment, the borrower does not need to have a certain credit score in order to secure Arizona hard money loans.

Who qualifies for Arizona hard money loans? Individuals, private citizens or those seeking private mortgages do not qualify for Arizona hard money loans. That is because Arizona hard money lenders usually only deploy funds to real estate professionals or businesses who are purchasing investment properties.

What sorts of limitations are places on Arizona hard money loans? The limitations vary depending on which Arizona hard money lenders you are working with. Generally speaking, however, Arizona hard money lenders may employ the following limits and rules:

1You must put a minimum of 20%-40% down when you secure Arizona hard money loans. The down payment amount depends on the condition of the property, where it was located, the amount of the loan and similar factors.

2Your Arizona hard money loans must be used for investment properties. Home improvement loans generally do not qualify. In addition, most Arizona hard money lenders require borrowers to purchase single family homes, condos and similar investments (no mobile homes or construction projects allowed).

3The property must be located in Arizona as well as being accessible to the lender. That is because Arizona hard money lenders need to inspect both the exterior and interior of the property before deploying funds. (Some exceptions may be granted, such as in the case of certain Trustee sales)

Where can you find reputable Arizona hard money lenders? You can start searching through Internet for the Arizona hard money lenders in the Southwestern United States. Sure you will find an experienced group of Arizona hard money lenders who regularly deploy funds in excess of a hundred million every year to investors like yourself.

by: Jesenia Crista

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