Investment Property Loans Arizona?

Arizona Investment Property Loans

Cash Out/Refinance/Purchase

Rates start at 6%* Yes you read it correctly 6%^*

Fully amortized for the lowest possible payments

Easy to qualify

Over $40,000,000 funded

Give us a call to discuss 623-582-4444

24-Hour Answer to Your Loan Request.

If You Are Not Using Level 4 Funding You’re
Probably Paying Way Too Much

That’s It! The Stress is Gone
No More Begging, No Jumping Through Hoops
No UP Front Fees - No Junk Fees

More Real Estate Investors Became
Millionaires and You Can Too
Do Real Estate Investing and Take Over the World

What are you waiting for?

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel: 623-582-4444
Dennis@Level4Funding.com

Who is this dude? Dennis brings with him substantial experience in residential real estate.  Dennis has extensive experience about purchasing, renting and selling numerous homes over the past 40 years.  His first purchase was a property in California when he was 18 years old.

Dennis holds a Bachelor of Science in Business Administration from California State University with majors in Computer Science and Business Management.

He is a Licensed Mortgage Broker, Licensed Mortgage Originator, Licensed Real Estate Agent, Licensed Insurance Agent in Life /Health/ Property /Casualty Agent, Certified Sort Sales Specialists (CSS), Certified Negotiator (CNE), and FAA Licensed Private Pilot. .

 

Married for 42 years with two girls and 5 grandchildren and an Arizona resident for the past 40 years. Licensed AZ MB 0923961, Licensed AZ MLO NMLS 1057378.

 

*Non-Consumer Loans. Actual payments will vary based on your individual situation and current rates. APR for loans vary from 6.0 – 8.8% and is based on Credit Score, Down Payment, Loan to Value (LTV), Payment/Income Ratios (DSRC). Texas and Arizona Only.

For Example, Home valued at $875,000, Loan Amount of $400,000, rental Income of $4,500, Annual Expenses of $2,050 and a FICO of 740 the rate would be 6% and the payment would be $2,428.20/month PI.

Home Value $230,000, Loan Amount $150,000, rental income of $1,495, Annual Expenses $2,050, and a FICO of 690 the rate would be 8.8% and the payment would be $899.33/month PI.

These loans are 30 year amortized with a 5-year balloon, MAX LTV 70%, Minimum Tri Merge FICO 680, Maximum DSCR 1.25. This is not a Good Faith Estimate, and this is not a Guarantee to lend and should not be considered as such. Costs, rates, estimates and terms can only be determined after completion of a full application. Mortgage rates could change daily. To get more accurate and personalized results, please call 623 582 4444 to talk to one of our licensed mortgage experts. Terms and conditions of all loan programs are subject to change without notice. Level 4 Funding LLC, 22601 N 19th Ave Suite 112, Phoenix AZ 85027, 623-582-4444 NMLS 1018071 AZMB 0923961 To the extent this message includes any tax or legal advice this message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice.

© 2016 Level 4 Funding LLC. All Rights Reserved.
Copyright | Privacy Policy | *Terms & Conditions
  

Investment Property Loans Arizona?

Arizona Investment Property Loans

Cash Out/Refinance/Purchase

Rates start at 6%* Yes you read it correctly 6%^*

Fully amortized for the lowest possible payments

Easy to qualify

Over $40,000,000 funded

Give us a call to discuss 623-582-4444

24-Hour Answer to Your Loan Request.

If You Are Not Using Level 4 Funding You’re
Probably Paying Way Too Much

That’s It! The Stress is Gone
No More Begging, No Jumping Through Hoops
No UP Front Fees - No Junk Fees

More Real Estate Investors Became
Millionaires and You Can Too
Do Real Estate Investing and Take Over the World

What are you waiting for?

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel: 623-582-4444
Dennis@Level4Funding.com

Who is this dude? Dennis brings with him substantial experience in residential real estate.  Dennis has extensive experience about purchasing, renting and selling numerous homes over the past 40 years.  His first purchase was a property in California when he was 18 years old.

Dennis holds a Bachelor of Science in Business Administration from California State University with majors in Computer Science and Business Management.

He is a Licensed Mortgage Broker, Licensed Mortgage Originator, Licensed Real Estate Agent, Licensed Insurance Agent in Life /Health/ Property /Casualty Agent, Certified Sort Sales Specialists (CSS), Certified Negotiator (CNE), and FAA Licensed Private Pilot. .

 

Married for 42 years with two girls and 5 grandchildren and an Arizona resident for the past 40 years. Licensed AZ MB 0923961, Licensed AZ MLO NMLS 1057378.

 

*Non-Consumer Loans. Actual payments will vary based on your individual situation and current rates. APR for loans vary from 6.0 – 8.8% and is based on Credit Score, Down Payment, Loan to Value (LTV), Payment/Income Ratios (DSRC). Texas and Arizona Only.

For Example, Home valued at $875,000, Loan Amount of $400,000, rental Income of $4,500, Annual Expenses of $2,050 and a FICO of 740 the rate would be 6% and the payment would be $2,428.20/month PI.

Home Value $230,000, Loan Amount $150,000, rental income of $1,495, Annual Expenses $2,050, and a FICO of 690 the rate would be 8.8% and the payment would be $899.33/month PI.

These loans are 30 year amortized with a 5-year balloon, MAX LTV 70%, Minimum Tri Merge FICO 680, Maximum DSCR 1.25. This is not a Good Faith Estimate, and this is not a Guarantee to lend and should not be considered as such. Costs, rates, estimates and terms can only be determined after completion of a full application. Mortgage rates could change daily. To get more accurate and personalized results, please call 623 582 4444 to talk to one of our licensed mortgage experts. Terms and conditions of all loan programs are subject to change without notice. Level 4 Funding LLC, 22601 N 19th Ave Suite 112, Phoenix AZ 85027, 623-582-4444 NMLS 1018071 AZMB 0923961 To the extent this message includes any tax or legal advice this message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice.

© 2016 Level 4 Funding LLC. All Rights Reserved.
Copyright | Privacy Policy | *Terms & Conditions
  

3 Ways Owner Occupied Hard Money Lenders Help with HUD Homes

HUD Homes are sold “as-is” and hit the market at fair market value after an appraisal, meaning they can be very low-risk investments. It may be difficult to find owner occupied hard money lenders for funding, but doing so may open up a world of possibility.

The Federal Housing Administration (FHA) is part of the US Department of Housing and Urban Development (HUD). When a homeowner has an FHA loan and the home is foreclosed on, the lender can file a claim with the FHA for the balance of the loan. Once paid, ownership of the property is then transferred to HUD, which is then responsible for getting the home resold. The home is inspected and a fair market value is assigned, so residences which need work are priced accordingly. Those who wish to purchase a HUD home can choose from a number of financing options, including owner occupied hard money lenders. There are many benefits of going this route.

1. You can buy before other investors. HUD won’t sell to investors right away. When a home first becomes available, only people who want to reside in the home can purchase it. After a period of time, investors are allowed to purchase it, which can increase competition.

2. You can have cash on hand quicker. Going with an HML is essential if you need to move quick. Offers made by those with cash in hand or who have pre-approval are generally considered before all others, but with HUD homes, buyers are expected to have financing in place before bidding.

3. You can get financing when traditional lenders won’t provide it. HUD doesn’t fix homes before they’re resold; they’re sold “as-is.” While this can be a fix-and-flipper’s dream because of the low sales price and potential for great returns after the repairs are made, traditional lenders can be picky about the conditions of a home. It can also be difficult to get financing from a traditional lender if you have less-than-stellar credit or are self-employed, among other things. Owner occupied hard money lenders use different criteria to determine which projects they’ll finance, so they can often help when a mortgage company won’t.

Is it Always Best to Work with an HML for HUD Homes?

There are multiple types of financing available for HUD homes, and each one can be beneficial under different circumstances. It’s also worth noting that not all HMLs will provide owner occupied loans. Many focus solely on investment properties a buyer does not plan to live in. For this reason, you should know your exit plan long before you begin looking at homes or finding lenders.

Learn the benefits and potential pitfalls before getting started.

Owner occupied hard money lenders typically prefer to work with experienced investors, but even newcomers may be able to secure funding if it’s clear they’ve done the number-crunching and have a solid strategy. If you’ve been considering purchasing a HUD home, Level 4 Funding can help regardless of whether you plan to live in the house or not. Contact us to learn more about how our programs work.

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
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701  

                 

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: owner occupied home loans,private hard money lender

3 Ways Owner Occupied Hard Money Lenders Help with HUD Homes

HUD Homes are sold “as-is” and hit the market at fair market value after an appraisal, meaning they can be very low-risk investments. It may be difficult to find owner occupied hard money lenders for funding, but doing so may open up a world of possibility.

The Federal Housing Administration (FHA) is part of the US Department of Housing and Urban Development (HUD). When a homeowner has an FHA loan and the home is foreclosed on, the lender can file a claim with the FHA for the balance of the loan. Once paid, ownership of the property is then transferred to HUD, which is then responsible for getting the home resold. The home is inspected and a fair market value is assigned, so residences which need work are priced accordingly. Those who wish to purchase a HUD home can choose from a number of financing options, including owner occupied hard money lenders. There are many benefits of going this route.

1. You can buy before other investors. HUD won’t sell to investors right away. When a home first becomes available, only people who want to reside in the home can purchase it. After a period of time, investors are allowed to purchase it, which can increase competition.

2. You can have cash on hand quicker. Going with an HML is essential if you need to move quick. Offers made by those with cash in hand or who have pre-approval are generally considered before all others, but with HUD homes, buyers are expected to have financing in place before bidding.

3. You can get financing when traditional lenders won’t provide it. HUD doesn’t fix homes before they’re resold; they’re sold “as-is.” While this can be a fix-and-flipper’s dream because of the low sales price and potential for great returns after the repairs are made, traditional lenders can be picky about the conditions of a home. It can also be difficult to get financing from a traditional lender if you have less-than-stellar credit or are self-employed, among other things. Owner occupied hard money lenders use different criteria to determine which projects they’ll finance, so they can often help when a mortgage company won’t.

Is it Always Best to Work with an HML for HUD Homes?

There are multiple types of financing available for HUD homes, and each one can be beneficial under different circumstances. It’s also worth noting that not all HMLs will provide owner occupied loans. Many focus solely on investment properties a buyer does not plan to live in. For this reason, you should know your exit plan long before you begin looking at homes or finding lenders.

Learn the benefits and potential pitfalls before getting started.

Owner occupied hard money lenders typically prefer to work with experienced investors, but even newcomers may be able to secure funding if it’s clear they’ve done the number-crunching and have a solid strategy. If you’ve been considering purchasing a HUD home, Level 4 Funding can help regardless of whether you plan to live in the house or not. Contact us to learn more about how our programs work.

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
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701  

                 

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: owner occupied home loans,private hard money lender

How to Build Wealth Using Owner Occupied Hard Money Loans

Owner occupied hard money loans are the unsung heroes of the real estate biz. Knowing how to leverage them is key for those who have dreams of going big but are just starting out.

Many people dream of getting into real estate because it’s a solid way to build wealth, yet quickly back down when they realize it’s also an expensive “game” to get into. Although few realize it, owner occupied hard money loans are often a gateway to wealth, giving those with an entrepreneurial mindset a chance to build even if they come to the table with very little to start. Before getting into how to leverage them, let’s break down how they’re different.

Owner Occupied: As the name implies, the person making the purchase intends to live on the property. This is common with foreclosures and HUD homes, with the latter requiring that the owner reside in the home for a full year before converting into a rental. Some co-ops and homeowner’s associations have a similar stipulation, though it’s generally permanent, meaning the owner must always be the one occupying the residence. Whether the owner intends to reside on the property or not will impact loan terms too, with those intending to stay generally receiving more favorable terms. It’s also worth noting that guidelines will vary from one contract to the next, so it’s important to read all contracts carefully to determine what an entity considers “owner occupied” and what stipulations come along with the designation.

Non-Owner Occupied: Generally speaking, the term “non-owner occupied” won’t appear much outside the mortgage industry. In this case, it’s used to designate risk. Perhaps not surprisingly, an investor dealing with money troubles is likely to let a loan for a rental or investment property go into default before he’ll put his primary residence at risk. For this reason, banks tend to be a little cautious here. It can be more challenging to get a non-owner occupied loan and the terms won’t be quite as good as they would have otherwise been.

A Win-Win Solution for Those Starting Out

Naturally, those just starting out don’t generally have strong records and pockets lined with cash like the banks like. However, one thing those who do make it have is tenacity. They’re willing to put in the work to see good returns. They just need a clear path to follow. By opting for an owner occupied loan, you’ll naturally get more favorable terms. Many people prefer this anyway because the first home they invest in is something they work on in their spare time, so being on site is a no-brainer. Plus, they aren’t paying a separate mortgage or rental payment to have a place to live at the same time. Opting for owner occupied hard money loans versus a traditional bank loan also opens up more doors, like closing fast and not having to struggle with all the requirements traditional mortgage companies have. From there, you can fix up the property as you have time and then flip it a year or two down the line when you’re ready.

It’s important to have clear expectations before getting into fix-and-flips.

Before you get into fix-and-flips, particularly if you plan to live in the home while you work on it, it’s essential to have an exit strategy and timeline. While some savvy entrepreneurs sell after a year or two, picking up anywhere from $10k to more than $50k per sale depending on their level of expertise, others convert their homes into rentals and build up a portfolio. Knowing where you plan to go after and what your anticipated timeline is will ensure you maximize your earnings. If you think owner occupied hard money loans may be the first step on your path to wealth, call us today for details.

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
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701  

                 

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: owner occupied home loans,private hard money lender

How to Build Wealth Using Owner Occupied Hard Money Loans

Owner occupied hard money loans are the unsung heroes of the real estate biz. Knowing how to leverage them is key for those who have dreams of going big but are just starting out.

Many people dream of getting into real estate because it’s a solid way to build wealth, yet quickly back down when they realize it’s also an expensive “game” to get into. Although few realize it, owner occupied hard money loans are often a gateway to wealth, giving those with an entrepreneurial mindset a chance to build even if they come to the table with very little to start. Before getting into how to leverage them, let’s break down how they’re different.

Owner Occupied: As the name implies, the person making the purchase intends to live on the property. This is common with foreclosures and HUD homes, with the latter requiring that the owner reside in the home for a full year before converting into a rental. Some co-ops and homeowner’s associations have a similar stipulation, though it’s generally permanent, meaning the owner must always be the one occupying the residence. Whether the owner intends to reside on the property or not will impact loan terms too, with those intending to stay generally receiving more favorable terms. It’s also worth noting that guidelines will vary from one contract to the next, so it’s important to read all contracts carefully to determine what an entity considers “owner occupied” and what stipulations come along with the designation.

Non-Owner Occupied: Generally speaking, the term “non-owner occupied” won’t appear much outside the mortgage industry. In this case, it’s used to designate risk. Perhaps not surprisingly, an investor dealing with money troubles is likely to let a loan for a rental or investment property go into default before he’ll put his primary residence at risk. For this reason, banks tend to be a little cautious here. It can be more challenging to get a non-owner occupied loan and the terms won’t be quite as good as they would have otherwise been.

A Win-Win Solution for Those Starting Out

Naturally, those just starting out don’t generally have strong records and pockets lined with cash like the banks like. However, one thing those who do make it have is tenacity. They’re willing to put in the work to see good returns. They just need a clear path to follow. By opting for an owner occupied loan, you’ll naturally get more favorable terms. Many people prefer this anyway because the first home they invest in is something they work on in their spare time, so being on site is a no-brainer. Plus, they aren’t paying a separate mortgage or rental payment to have a place to live at the same time. Opting for owner occupied hard money loans versus a traditional bank loan also opens up more doors, like closing fast and not having to struggle with all the requirements traditional mortgage companies have. From there, you can fix up the property as you have time and then flip it a year or two down the line when you’re ready.

It’s important to have clear expectations before getting into fix-and-flips.

Before you get into fix-and-flips, particularly if you plan to live in the home while you work on it, it’s essential to have an exit strategy and timeline. While some savvy entrepreneurs sell after a year or two, picking up anywhere from $10k to more than $50k per sale depending on their level of expertise, others convert their homes into rentals and build up a portfolio. Knowing where you plan to go after and what your anticipated timeline is will ensure you maximize your earnings. If you think owner occupied hard money loans may be the first step on your path to wealth, call us today for details.

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
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701  

                 

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: owner occupied home loans,private hard money lender

Tips for Finding a Hard Money Lender Austin Texas

Sadly, not every hard money lender Austin Texas is legitimate. But following a few simple tips can ensure that you are making the right selection for your hard money needs.

There are many reasons to consider using a hard money lender Austin Texas even though this is not as conventional an approach as using a bank or lending institution. But a borrower should follow a very similar process when selecting a lender to work with on a hard money loan. Borrowers need to complete their due diligence to make sure that the lender is legitimate and is truly offering a service and not just trying to take advantage of borrowers who need to seek alternative lending sources.

One of the first important pieces of information to verify is that the hard money lender Austin Texas is licensed, bonded and insured. In other words, make sure that your potential lender is really a business person who provides hard money loans austin or represents a group who provides loans. In some cases, a less than homes person will represent himself or herself as a lender simply to take advantage of honest borrowers. In these cases, the lender will ask for upfront fees for processing or to consider a loan application, only to disappear with your money. They have no intention of making any loans, they are just running a scam to collect fees.

Other fraudulent lenders are just placing ads to attract potential borrowers who all too eagerly supply the fake lender with financial information, personal information and even sometimes processing fees. Then the borrower’s information is sold to create fake identities or to commit other types of fraud or identity theft. And again, they are no closer to getting the loan that they need.

Verify Past Client Experiences

In addition to researching the legitimacy of the lender, it is a good idea to ask for references to speak to. Clearly, the lender will only provide you with contact information to satisfied clients, but it is a clear sign of trouble if a hard money lender Austin Texas will not provide references. This is a sign that they have a bad reputation, do not follow through with promises or might not even be legitimate. Proceed with caution is no references are available, or even better, find a different lender to work with.

Verify the Terms Being Offered

As with any loan, when seeking a hard money loan, you need to be sure to verify all of the terms of the loan. In most cases, hard money is offered at a rate of about 10% - 15% as the total cost of the loan. Some lenders might break the fees into different categories or have a different name for some fees but the total cost should not be more than that. In addition, reputable lenders are not going to ask for huge upfront fees. There could be a very small administrative fee or fee for an appraisal but large processing fees are a sign of a potentially dishonest lender. Following these few guidelines will ensure that you are able to work with a reputable and reliable lender for your hard money needs.

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
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701  

                 

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: owner occupied home loans,private hard money lender

Tips for Finding a Hard Money Lender Austin Texas

Sadly, not every hard money lender Austin Texas is legitimate. But following a few simple tips can ensure that you are making the right selection for your hard money needs.

There are many reasons to consider using a hard money lender Austin Texas even though this is not as conventional an approach as using a bank or lending institution. But a borrower should follow a very similar process when selecting a lender to work with on a hard money loan. Borrowers need to complete their due diligence to make sure that the lender is legitimate and is truly offering a service and not just trying to take advantage of borrowers who need to seek alternative lending sources.

One of the first important pieces of information to verify is that the hard money lender Austin Texas is licensed, bonded and insured. In other words, make sure that your potential lender is really a business person who provides hard money loans austin or represents a group who provides loans. In some cases, a less than homes person will represent himself or herself as a lender simply to take advantage of honest borrowers. In these cases, the lender will ask for upfront fees for processing or to consider a loan application, only to disappear with your money. They have no intention of making any loans, they are just running a scam to collect fees.

Other fraudulent lenders are just placing ads to attract potential borrowers who all too eagerly supply the fake lender with financial information, personal information and even sometimes processing fees. Then the borrower’s information is sold to create fake identities or to commit other types of fraud or identity theft. And again, they are no closer to getting the loan that they need.

Verify Past Client Experiences

In addition to researching the legitimacy of the lender, it is a good idea to ask for references to speak to. Clearly, the lender will only provide you with contact information to satisfied clients, but it is a clear sign of trouble if a hard money lender Austin Texas will not provide references. This is a sign that they have a bad reputation, do not follow through with promises or might not even be legitimate. Proceed with caution is no references are available, or even better, find a different lender to work with.

Verify the Terms Being Offered

As with any loan, when seeking a hard money loan, you need to be sure to verify all of the terms of the loan. In most cases, hard money is offered at a rate of about 10% - 15% as the total cost of the loan. Some lenders might break the fees into different categories or have a different name for some fees but the total cost should not be more than that. In addition, reputable lenders are not going to ask for huge upfront fees. There could be a very small administrative fee or fee for an appraisal but large processing fees are a sign of a potentially dishonest lender. Following these few guidelines will ensure that you are able to work with a reputable and reliable lender for your hard money needs.

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
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701  

                 

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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: owner occupied home loans,private hard money lender