Cash Out & Refinance Loans

Hard Money Lenders Arizona

40 N. Central Ave. Suite #1400
Phoenix, AZ 85004
(480) 999-6183

Hard Money Lenders Arizona offers probate loans, estate loans, trust loans and inheritance loans to heirs and beneficiaries in need of short-term financing when refinancing inherited property (real estate only). Based in Phoenix, Arizona, Hard Money Lenders Arizona is a probate loan lender with decades of experience in lending. We provide fast approval and funding, plus competitive rates and exceptional customer service. Contact Arizona Hard Money Lenders to get your probate estate loan approved and funded fast.

The loans Hard Money Lenders Arizona provides – probate loans, estate loans, trust loans, inheritance loans, and short-term real estate asset loans – are much easier to secure through a hard money lender than a traditional bank or credit union. These loans are often referred to as a probate advance or inheritance advance. For instance, the estate may be going through the probate or trust administration process or the heirs of the inheritance may want to quickly divide their ownership of property within the estate. Hard Money Lenders Arizona also works with attorneys who have clients in need of a loan against real estate assets within an estate or trust. Hard Money Lenders Arizona provides probate funding, estate and trust loans throughout Arizona.

Probate Loans Against an Estate

Once the probate process is complete, the assets from an estate can be distributed to the heirs. Typically, probate can last from 6 months to 3 years. Because this can be a lengthy process, many heirs find themselves needing probate funding. This means that a probate loan will allow an heir to borrow against the real estate within the estate until the probate is settled. This is a low-cost option compared to a cash advance.

Estate Loan to Satisfy Estate Obligations

While the probate process in going on, heirs may need funds to cover other costs, such as burial expenses, legal fees, paying the estate’s mortgage, paying property taxes, paying off debts, making repairs to the property, or buying out other heirs. By taking out an estate loan in Arizona, the heirs can quickly get the cash they need to take care of immediate obligations. This gives heirs breathing room during a difficult time.

Estate Loan to Buy Out Siblings

When an heir wishes to buy out one or more other heirs, an estate loan is the answer. This loan is a fast and easy way to divide the real estate within an estate. An heir can take out an estate loan and pay off the other heirs. However, all heirs must approve the estate loan and come to an agreement on its value. This can be done by getting an appraisal.

Probate, Estate & Trust Loans for Attorneys & Fiduciaries

Hard Money Lenders Arizona works directly with attorneys and fiduciaries who need to borrow against real estate on behalf of a client’s estate or trust. We assist administrators, trustees, and executors in need of fast funding for short-term loans against an estate or trust. The borrowed funds can used to pay attorney fees, pay off other heirs and siblings, pay taxes, settle debts or handle any other obligations of the trust or estate. A probate attorney, administrator, executor, trustee or beneficiary can initiate the request to obtain the probate or estate loan.

How to Refinance an Inherited Property to Buy Out Heirs

When there are multiple heirs who inherit a property, problems can arise when one heir wants the keep the property while the remaining heirs want to sell it. If the heir who wants to keep the property does not have enough cash to buy out the other heirs, they can take out an estate loan to get that cash fast and easy to solve this issue. Typically, this kind of refinancing can not be approved by a conventional bank or credit union. The title to the property is not in the borrower’s name. Instead, the title is in the name of the estate or trust. This makes it very difficult to secure a mortgage with a bank because they are not interested in refinancing a property that belongs to many heirs.

The solution is to work with Hard Money Lenders Arizona to refinance the property and buy out the other heirs. It’s important to note that before refinancing the inherited property, all heirs must agree upon the value of the property and the amount of cash each heir will receive during the buy out.

Experienced direct hard money lenders such as Hard Money Lenders Arizona have the ability to provide heirs with a home equity loan on an inherited real estate property. This type of loan has many names, including probate loans, probate estate loans, probate real estate loans, estate loans, trust loans, estate inheritance loans, inheritance loans and inheritance property refinance loans. These loan types all provide the heirs with a cash out refinance option on inherited property.

These loans are funded quickly and are made directly to the trust or estate and have the heir who wants to retain the property assume the loan. From here, the proceeds are then distributed accordingly to the heirs who wish to be bought out. Once the inherited property refinance is complete, the title of the property is transferred to the borrower of the loan. The borrower can then refinance with a conventional lender for a longer-term loan at a lower interest rate.

Inherited House with No Mortgage vs Inherited Property with an Existing Mortgage

When an heir inherits a property without a mortgage, this allows for larger equity distributions for the heirs who want to be bought out. On the other hand, when heirs inherit property with an existing mortgage, it needs to be paid off first. The amount of equity available to the heirs will be reduced by the current balance of the existing loan.

Trust Loans to Beneficiaries Preserving the Assessed Tax Value of the Property

A trust loan allows for an heir to receive a short-term loan against inherited real estate property. The proceeds from the loan go towards paying off the other heirs included in the trust. From here, the property can be deeded to the heir who wants to keep ownership of the property. This often allows for property tax benefits so it is important to consult a tax attorney for this purpose. The goal is to seamlessly pass the parent’s property to the adult child without requiring a reassessment of the property value. By maintaining the existing tax assessment value of the inherited property, the heir can save thousands of dollars on property taxes each year, making a trust loan an excellent investment opportunity.

Probate, Estate and Trust Loans – Not Available from Conventional Lenders

It’s typically impossible to get an estate loan with a bank or credit union. This is because this type of loan requires additional documentation and legal knowledge that most banks and credit unions simply do not have. Also, they cannot make a loan to an estate, trust, or probate and then have that loan be immediately assumed by another party (the heir). However, experienced estate and probate loan lenders such as Hard Money Lenders Arizona have both the expertise and flexibility to the make the loan to the estate or trust and then allow the heir to assume the loan and transfer the title of the property to their name.

Reverse Mortgage Refinancing for Heirs

Hard Money Lenders Arizona also provides heirs with reverse mortgage refinancing when they want to keep the inherited property. This is a good strategy since conventional lenders will not refinance reverse mortgages for heirs. Hard money lenders do fund these types of loans so that the heir can retain ownership of the property and have the property’s title transferred to their name. This also prevents the property from being reassessed, saving the heir thousands of dollars every year in property taxes.

Probate, Estate and Trust Loan Interest Rates & Fees

The fees for probate, trust, and estate loans vary from lender to lender. Both the rates and fees depend on the type of lender. Typically, these types of loans have a higher interest rate compared to traditional loans. However, they are short-term and the borrower has the choice to refinance the loan for a longer-term and at a lower rate with a conventional lender. For those heirs who wish to receive an estate loan to avoid tax value reassessment, the total loan costs will be small compared to the thousands of dollars the heir will likely save each year in the form of lower property taxes.

Contact Hard Money Lenders Arizona Today

Hard Money Lenders Arizona funds probate, estate and trust loans against real estate in Arizona. Contact us today to get your probate, estate, trust loan or inheritance advance funded quickly.

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