Posted over 5 years ago

The Top Five Options When Seeking a Fix and Flip Loan

Real estate investors use for short term financing to purchase and renovate a property with the intent of selling it for a profit. These loans are for properties with fast closing and the property is in any condition.

Hard Money Loans in Arizona are the most popular type of Arizona fix and flip loans. In some cases, you can qualify in minutes, see your rates, and get funded within in as little as one week. Hard Money Loans in Arizona are popular loans used for these types of properties. They offer short terms and are secured by real estate. This type of loan is used by investors to purchase a property, renovate the property, and then sell the property within a year. Loans geared for fix and flip properties enable you to finance a property in poor condition. With Hard Money Loans in Arizona, the threshold for approval is lower than conventional loans and funding could be in as little as one week. The concern of the lender is more about the collateral than the background of the borrower. Here are five options for Arizona Fix and Flip Loans including the hard money lender.

Hard Money Arizona Fix and Flip Loans - Perfect for novice investors as well as experienced investors with 2+ flips.

UP TO 90% Loan-to-Value and 80% after-repair-value

Term 1-3 years

Approval time 24 Hours, up to 15 days for funding

Interest Rates: 7%-12%

Fees: 1-5% -10% lending Fee, 2% - 5% closing costs

Qualifications: 550 minimum score, 2-3 past Rehab Projects and Possible Licensed Contractor

Cash Out Refinance - If an investor has an existing investment with 30% to 40% equity.

Financing up to 75% loan to value

Term 15-30 years

Approval 30-45 days

Interest Rates 3.99% to 6%

Fees 0% -3% lending fee, 2% - 5% closing costs

Qualifications 640 minimum credit score, 45% debt to income ratio, 0-6 months reserves and Existing property with 40% equity

Home Equity Line of Credit - Investors who have an owner-occupied primary residence with equity of 30% -40%.

Financing of up to 85%

Loan term 25-30 years

Approval/funding time is 30-45 days

Interest Rates 4.5% to 5.5% variable rate

Fees 0% to 2%

Qualifications 640 minimum credit score, 45% debt to income ratio and existing home with 30% equity

Line of Credit for Investment Property - Investors who have a rental property who wish to cash out for other purchases.

Financing up to 80% of cost

Loan term up 75% loan to value

Approval time up to 30days

Interest Rate 5.2% - 6%

Fees $75 annual service fee and 1% -5% closing costs

Arizona Bridge Loans - If you need to close quickly and will arrange more permanent financing later.

Financing up to 70%

Term 2 weeks to 1 year

Approval 15+ Days

Interest Rates 6.2% - 9%

Fees $500 appraisal, 1%-2% lender fees

Qualifications- Ability to pay 2 mortgages, 20% equity in current property and an exit strategy

Clearly, there are many options when choosing a for your property. We work with hundreds of investors at Setabay, many of which specialize in these types of loans. We are quick to funding and can close in as little as three days.

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.