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There are many different Arizona hard money options, each of which may be helpful in a different situation. If you think any of these types of financing will work for you, you will need to contact a Arizonahard money lender to get more information. In the meantime, here are the basic facts.
1. One example of an Arizona hard money loan is a residential investment loan. An Arizona hard money lender might make this type of loan based on the collateral of the property you are purchasing with the money you are borrowing. Another choice is that he might lend on the collateral of another property in which you have equity.
2. If you are making commercial investments, the Arizona hard money lender might grant you a loan on an investment you want to make. If you have no collateral to offer, the hard money lender might choose to accept interest in your company instead. This means that the Arizona hard money lender will be a part owner of your business as collateral.
3. For a transitional loan, there is a hard money option called a bridge loan. This can be used in case you have a situation where you need money for a short time, but you will be able to repay the loan in about 6 months. This is a good choice if you know you will eventually be able to get traditional financing within the 6 month period. These are typical hard money loans for Arizona investment property hard money loans.
4. You can use Arizona hard money to prevent foreclosure of your commercial property. There must be collateral to cover approximately 65% of the loan to value to back up the hard money loan. This gives you the opportunity to keep your commercial property.
5. Another example of the use of an Arizona hard money is for rehabbing a property and selling it quickly. The Arizonahard money lender will give you a loan for short term financing while you are rehabbing the property, and then you would pay it back in a short time. Assuming you sold the property you have renovated; this would be an easy task. Arizona rehab loans are investment property loans only.
The Arizona hard money options are available to investors who wish to use short term loans to take advantage of opportunities. If you find yourself in any of these positions, you might want to explore your Arizona Hard Money options.
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