Posted about 5 years ago

How To Select Quality Hard Money Lenders

Trust Deed Investing Information | News and Information

When you can’t go to a bank for a traditional loan, are a great option. But only if you know what to look for in a reliable lender.

When you decide to use hard money rather than a traditional loan from a bank or mortgage company, you quickly discover that it can be more challenging to locate reputable . It is not nearly as easy as going to a bank that is well known and offers a very long and public history of funding loans. But there are a few important tips that will guide you through the process of selecting professional and reputable lenders.

As you know, hard money loans are not based on your credit history in the same manner as a traditional bank loan. But serious are likely to check your credit just to know a bit more about you and your financial position. This does not mean that they are going to deny you a loan because of a low credit score, but it is a good indication that they are operating a legitimate business and what to learn more about you as a potential client.

When you begin to research your , each lenders history will be important. You are not necessarily looking for how long they have been in the business as much as you are looking for the number of loans that they are funding. The more volume, the more active the lender is and in most cases the more reliable and legitimate as well. Lots of satisfied customers mean that you are likely to have few issues as the lender has created a smooth and issue free system for processing requests and for funding.

Don’t Be Afraid To Ask Questions

You would never work with a bank that could not or would not provide references upon request. And you should take that same approach with . Asking for references only shows that you are working on your due diligence to make a smart selection. Potential lenders will respect that fact. But don’t stop at just asking for the list, make some calls to see what previous borrowers have to say about your potential lenders. That will tell you a lot about the level of customer service that you can expect and how well the past borrowers liked the entire lending process and experience.

Make The Choice That Is Best For You

Not all are the same, and not all of them will offer the same benefits or even processes. Learning about this information up front is very helpful when it comes time to select the lender that best meets your needs. In the end, it is not always about the cost of the loan as much as finding a lender that you are comfortable working with and that you trust. Investing the time to find that lender who is a perfect fit for you can eliminate a great deal of stress throughout the life of your loan.

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC

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
[email protected]
Dennis Dahlberg Broker/RI/CEO

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