Arizona hard money lenders offer a lot more customization than the international banking, financial institutions and product firms. In times of recession, default on loans and rate of interest increase, discouraging the borrowers from seeking hard money for investing it in large scale ventures. Yet, Arizona has remained comparatively greener pasture for potential borrowers of hard money. Lenders here are in no way an alternate solution that is insufficient or inferior in any form to the formal financial services. On the other hand, hard money lenders in Arizona are doing a remarkable service, benefitting themselves as well as the people wanting the loan.
Exceptional services are provided by Arizona hard money lenders through personal attention by well-trained team of honest, dedicated professionals. Seasoned veterans handle the entire procedure, instilling a sense of confidence of their corporate culture in the person who approaches them. Borrowers in a hurry, requiring huge sums of money, those who have been rejected by traditional institutions, have poor credit history or those who find going through complicated process a pain, private hard money lenders to be the best substitute.
Besides, Arizona hard money lenders are extremely flexible and transparent in their dealings. There is no upfront fee or monthly payment. The lenders provide themselves cushioning against default by charging a much higher rate of interest. They often come across defaulters but also make adjustments when payment deferrals are requested for. This is an additional feature of hard money lenders that attract a large number of individual borrower or businesses. Usually the lenders prefer to safeguard themselves by giving out short-term loans only, but this rule again can be waived under certain circumstances.
The value of the real estate being collateralized is the sole consideration and not the income of the person wanting a hard money loan. The loan that is offered may vary anywhere from 50%-60% of the value of the asset, differing from case to case. Cases are closed in a very short time, facilitating the borrower to a great extent. Arizona hard money lenders literally take the hard away from hard money, leaving you with a peace of mind so rare for an ordinary person wanting to make extraordinary money.