Posts

What is a Rehab Loan?

If you love watching those flip or flop shows that take dilapidated or outdated properties and turn them into gems that make a profit on the real estate market, then you might be wondering how to get the money to do something like this in your own home town.  Rehab loans are a niche type of loan offered by Arizona rehab lenders, also known as hard money lenders.  Typically there is a lot more for borrowers to understand with these types of loans than with traditional loans you get from a local bank. Read more

Personal Guarantees and Hard Money Loans

When it comes to hard money loans in Arizona, what are the personal guarantees that lenders expect?  Before going into that, you need to know the difference between a full recourse loan and a guarantee.  Your hard money loan is either a full recourse loan, meaning the lender can lawfully pursue the borrower’s other assets to pay the debt if the borrower’s collateral is not enough to cover the loan, or a non-recourse loan, meaning the borrower’s assets are protected as being separate entities and can not risk being liquidated. Read more

How Long Does it Take to Close a Hard Money Loan in Arizona?

If you’ve ever closed a traditional loan, you know how long it can take. However, expect a hard money loan to take even longer and to have a lot more involved in the closing process.  You can expect your hard money lender to help you through this process and give you a checklist of required documents and items required to close the hard money loan.

Hard money loans have a lot of people involved in closing a hard money loan and we will take a closer look at each one and the job they need to do. Read more