Owner Occupied Borrowers Can Get a Private Hard Money Loan From Lenders

Welcome we offer Private Hard Money Owner Occupied Loans in Arizona up to 80% LTV.  Our Arizona owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Arizona

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Arizona, making real estate loans to both Investors & Owner Occupants in Arizona.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in Arizona.

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Arizona, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Arizona Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component

Private Hard Money for Owner Occupied Borrowers in Phoenix

Welcome we offer Private Hard Money Owner Occupied Loans in Phoenix up to 80% LTV.

Our Phoenix owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Phoenix

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Phoenix, making real estate loans to both Investors & Owner Occupants in Phoenix.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in .Phoenix

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Phoenix, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Phoenix Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Phoenix Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component.

Mortgage Loan Officer Originator Private Hard Money Lender Phoenix AZ $90,000-$120,000 per year.

Loan Originator / Loan Officer / Mortgage Loan Originator Make Money!
Level 4 Funding – Phoenix, AZ

Email your resume to dennis@level4funding.com  today!

In House Leads - Fresh they are ready to go.

What Will You Earn?
Typically our Loan originators make from $90,000-$120,000 per year.

Benefits?
You are going to make a boat load of money.

Loan Originator Leads WERE #1 ON GOOGLE
• Sub Prime and PRIVATE FUNDING
• The highest commission possible make extra big money!
• Exceptionally good pricing
• All products: with dozens of wholesale relationships.
• Great customer service
• Remote access leading edge technology.
• Point Central Software
• Must be licensed Loan Originator in Arizona

NO COLD CALLING, NO CHASING REALTORS, NO NETWORKING

WHO WE ARE:
Level 4 Funding is an Arizona Mortgage Broker with numerous warehouse in place to fund almost any possible loan scenario. We even fund our own loans.
Our goal is to provide funding for any situation. When we talk to our customers we say YES WE CAN we find a solution that meets their needs.
Our stability and longevity allows us to offer competitive rates and administrative support that allows our loan officers to focus on originating new loans and make money.
We we'll give you all of the tools and resources you need to take your business to the next level. Located in Phoenix, Arizona; after years of business we've funded over millions in loans.

What We Do:
Private Lender/Broker.
Lend to Investors/Commercial/Borrowers
Easy Underwriting, and processing.
In house paperwork.

What Will You Make.......?
Typically our Loan originators make from $90,000-$120,000 per year.

Benefits?
None..you are going to make a boat load of money, If you want benefits go and work for Quicken.

What We Don't do:
We DO NOT DO FHA,VA, CONVENTIONAL or other BS Loans.
We don't call on real estate agents.

We usually close within 2-5 days.
Really, in most cases if you get a call on Monday its closing in title Wednesday/Thursday.

What we offer:
Marketing (We make the phone ring).
We spend massive amounts of money on all avenues of marketing to get people to call YOU.
Inbound pre-screened leads
Referral Generation System.
Rewarding Career -- looking for true professionals, not order takers
We are a Direct Lender and we kept the ability to Broker Specialty Programs
You won't miss an opportunity.
In-house UW, Docs, Fund.
Lowest rates in the market place with the ability to be competitive with your low cost lenders.
Highest paid comp plan in the industry for inbound call center agent
Licensed in multiple states
Looking to hire Loan Originators or an Entire team

Requirements:
Must be licensed under NMLS and Arizona
Knowledge of multiple loan products
Drive to become a Top Producer
Great communication skills and the ability to handle all our incoming leads -- not afraid to keep learning and work hard.
No Part time.
Funding as many loans as possible - as quickly as possible - with the least amount of hassle.
Stop procrastinating and contact us today!

What Will You Make?
Typically our Loan originators make from $90,000-$120,000 per year.

Submit your resume today and schedule a one-on-one consultation to discuss your new career.

Email your resume to dennis@level4funding.com  today!

www.Level4Funding.com
AZMB 0923961

Can you use a residential hard money lender for construction financing?

Real estate, in general, can be a very expensive business to involve yourself in. If you work as an agent most likely you will have to pay for your tests and license. If you are in the business to fix and flip a property you will spend money on the home, as well as, local advertising. Maybe you are just a regular person that wants to buy a new home. Either way, you need money. Sometimes you may need help paying for some of your expenses.

For most people, this extra cash will come from the bank, however, if you are in a time crunch a residential hard money lender will work for you. A loan from a hard money lender would work great for contractors, as well. Think of all the instances where something went awry during the construction process. When building stops you lose time and potentially thousands of dollars.

On average, it costs about $125 per square foot under normal construction. This means if you were to begin building a 3,000-square-foot home it would cost about $325,000. Most likely this is before all the additional after-market enhancements you may want to add. This is where loans will most likely come in. If you choose the hard money route, most likely you will have to do a combination loan package.

Usually, contractors will apply for a construction loan that will likely last the duration of construction. The second loan is a permanent loan that is used to pay off the first loan. When shopping for two loans you must also remember to look for more than one lender. Some bank will not allow you to take out multiple loans at the same time. If this happens to you a residential hard money lender should be able to give you the money you need fairly quickly.

Be mindful of the hard money loans that you borrow.

When it comes to hard money loans, borrowing during construction can be very risky. Having the extra money can be helpful if you are in a tough bind. Usually, a residential hard money lender will let a client borrow a short-term loan that lasts from about six months to a year. In that time—if you plan to sell the property—you want to find a buyer fairly quickly. Depending on the progress of the project your timeframe can be pushed off. In some cases, construction can halt for a year or more.

If you are lucky you could possibly be able to have your interest rate lock for a specific amount of time. This is contingent on the lender being lenient and is based on the figures you have already given them. If something goes wrong, they could deny your request.

Do you need a hard money loan for construction?

Maybe you do need extra for the renovations that you want to do on your new rehab. Before you take on more expenses and bills make sure the property that you are working on will bring in revenue. You do not want to be stuck with a loan after all the work is done.

 

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com 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: residental hard money lenders,residential hard money lender

How Can A Bank Limit Risk In Commercial Lending?

Commercial lending involves a level risk no matter who the borrower is, but banks do have ways in which they can minimize risk.

Borrowers are always confident their idea can’t miss. They always think that their idea is the one that will make millions and that the bank would be foolish not to approve. If a borrower didn’t exude some level of confidence in their business model the bank would be foolish to approve them. If they don’t believe in it how can the bank?

But when you are in the business of commercial lending you can’t get caught up in the confidence and emotions displayed by the borrower. You have to remain detached and objective—but how?

Five C’s Of Credit Used In Commercial Lending

It is impossible to know beyond the shadow of a doubt whether someone is going to honor their loan agreement and pay it off in a timely fashion. People in the commercial lending industry just have to do the best they can when judging the level of risk that lies with approving a particular borrower.

How do they judge it? The apply the Five C’s of Credit:

- Character: Does the borrower have a track record of paying his or her bills in a timely fashion or do they have a lot of outstanding debt?

- Capacity: Will the borrower have sufficient income to pay his note every month? Are they entering a market with a lot of competition and not enough demand to go around?

- Capital: How much equity do they have in the venture? Is it enough to convince the bank they will do whatever it takes to succeed or will someone else be the big loser if the business fails?

- Collateral: an alternative source of payment for the lender should the borrower fail to abide by the terms of the loan.

- Conditions: also known as the loan structure; this will include whatever interest rate is being charged as well as any other things the lender feels are necessary in order to minimize their risk (i.e. loan-to-value ratio, debt service coverage ratio, financial covenants, the subordination of officer debt, borrowing base).

It All Starts With The Relationship for Commercial Lending

Commercial lending can be a nerve-racking business. You want to believe in people and help make their dreams come true, but at the same time, you have to be responsible to the bank's investors too. But you hate to be the one that has to crush someone’s dream. Does this mean you have to be ruthless?

Not at all! In fact, the best bet is to get to know the borrower as much as possible. Establish a relationship with the borrower, and you are more likely to “accidentally” discover red flags that they inadvertently let slip. It sounds dirty, but at the same time you can find out if they are a crazy dreamer with their head in the clouds are a practical and responsible business person.

 

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com 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: commercial lending

Commercial Mortgage Basics

Interested in a commercial mortgage? If, so it never hurts to make sure you know the basics.

You might be surprised how many people consider a commercial mortgage or non-residential mortgage without truly know the basics. Sure, the right lenders and loan officer will gladly guide the way. But, nevertheless, it is still important to first-hand what you are potentially signing up for, right? Of course, it is that’s just common sense and good business. So, let’s get down to some of the basics.

For starters, just like anything else these days, there seems to be an overwhelming amount of information available for all things commercial mortgage. In fact, any standard internet search will more than likely yield you dozens of articles. But, assuming you are like most business savvy individuals you probably do not have the time to sit down and go through countless articles and that‘s perfectly okay. In all actuality, you can narrow non-residential mortgage basics down to around four major points—the purpose or use for a non-residential mortgage, where to obtain this particular mortgage, how to qualify and of course what are the terms.

Typically, the purpose or rather what you can use a non-residential mortgage for is large commercial properties like warehouses, office buildings or financing for company property improvements. You can also choose to use this particular kind of mortgage to refinance existing commercial loans. With that being said, when in the market for a non-residential mortgage your best lender options are generally banks, especially if you want to deal with the people who are originating your mortgage. Once you’ve decided on the right bank lender for you, the next thing that absolutely has to happen is finding the time to sit down with your commercial lender to go over the terms and qualification requirement in full, clear detail.

Commercial Mortgage - Where to Begin

Clearly, you should never get any mortgage without its terms and borrower requirements being fully explained. Nevertheless, it goes without saying that really no two non-residential loans will be alike. Thus, it makes sense to do the necessary research and ask the necessary questions that pertain to your business, your commercial project, and the actual property. In general, most mortgages that are used for commercial purposes have a repayment period of five to ten years with property improvement mortgages or loan needed to be repaid sooner rather than later. Lastly, no mortgage or loan comes without fees, thus, you should also make sure you are clear the closing costs and more.

Things to consider when figuring out if you Qualify for a Comercial Mortgage

Also a side note, when figuring out if you actually qualify for your business mortgage or non-residential mortgage remember lenders determine your creditworthiness based upon your business credit score, which often varies from company to company. Due to this fact, it is almost a necessity to have your business credit in order across the board because most banks see low or unfavorable business credit scores as a strong indication of your inability to make on-time payments and you never want to give off that impression when applying for a mortgage.

 

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com 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: commercial mortgages,comercial mortgage

Common Mistakes Brokers Make In Loan Applications Sent To Commercial Hard Money Lenders

Trying to get financing through a commercial hard money lender is not the same as from your traditional hard money lender. Many traditional brokers do not realize this and end up making some common mistakes.

.

In a perfect world, we would all have good credit and would have no problem getting approved for a commercial loan of any kind—but our world is far from perfect, much like our credit ratings. But to get approved for a traditional commercial loan you typically need to have a pretty good credit rating.

The importance of goo credit in getting a loan approved does not mean every business person out there has great credit. Chances are many of them do not. So how did they get a loan approved? They—or their broker--worked with commercial hard money lenders.

These types of lenders understand that they are taking on clients that are at a higher risk of defaulting. So they have the terms of the loan reflect the risk they are taking. While they may not be fond of them, if a borrower had a better option they would take it.

However, the process of getting approved for one is a little different than a traditional loan. If you are not careful, you may find your commercial hard money lender rejecting your application.

Things To Consider When Applying For A Loan From A Commercial Hard Money Lender

Filling out a loan application can be a confusing and difficult task no matter what it is for, but when you apply for one from a commercial hard money lender there are certain things you need to do that you probably did not in your application to the bank and credit union:

Tell your loan’s story. Don’t just tell your lender that you need the money. Since the risk is higher for them, they often want to know more. Tell them why you want the money, what you are going to use it for, and what you are hoping to accomplish with it. Give the lender the story behind the deal.

Don’t just submit a ton of information and data. Submit the right data. It is not uncommon for a broker to turn in an application that has way too much information and data in it, but not have the right stuff. For example, an application includes the borrower’s tax returns but fails to include the exact amount being requested.

Loan packages can be pretty big making it easy for something important to get overlooked. Including a summary of the major points and data with your application along with an executive summary can take care of this issue. This can also be a great way to get on your loan processor’s good side.

Everyone appreciates it when they don’t have to work as hard to get their task accomplished. Organizing your application can be a great way to earn brownie points with the loan processor.

Who doesn’t like brownie points?

 

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com 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: commercial bridge loan,commercial lender,commercial lenders,commercial lending