A hard money lender in Arizona offer equity-based loans that a typical bank or any other lending institution will be reluctant to give. Known for its natural beauty, Arizona is the largest land-locked state of US as far as population is concerned. Here such loans are known by various names such as “private financing” or “private loans”. They can be had at a short notice, without the hassle of going through cumbersome documentation. The non-institutional hard money lenders announce special discount rates from time to time to attracts more customers.
The hard money loans in Arizona are typically short-term loans (1-36 months). The finances provided by a hard money lender in Arizona is generally used for purchasing of an investment property, foreclosure bailouts, debt consolidation, remodeling and in a large number of similar situations where money is required in huge amounts, quickly. The state allows up to 60% of Loan to Value ration on the property to the borrower seeking hard money. Being based solely on equity, the lender will not consider your income, personal credit or assets and only require you to have 40+ equity in the property to qualify for such a loan. The hard money lenders serve all the metropolitan cities of the state.
Every loan request is carefully considered from its unique perspective and the lender custom tailors the scheme he is offering keeping the circumstances of the borrower uppermost in his mind. A hard money lender in Arizona has a quick loan solution for every client who approaches him, never turning him down for reasons that conventional banks would. Even cross-collateralization can be resorted to if needed. The lender values the prospective buyer’s time, serving him with total professionalism and integrity.
The seamless experience that the borrower goes through while dealing with a hard money lender in Arizona leaves him feeling totally satisfied. Each lender has its own unique selling proposition to entice more and more customers, such as no monthly payments, up to 100% financing, direct contact with the lender (not through a broker) etc. Unlike the conventional lending agencies which look almost the same, hard money lenders in Arizona have varied schemes to offer, thus enabling the customer to take his pick from among the teeming assemblage of them.