Barrett Financial Group helps Arizona real estate investors with hard money loans
PHOENIX, October 24, 2018 /PRNewswire/ — In Arizona, and many other states, hard money loans are a way to finance a real estate purchase or development without the many procedural hurdles associated with bank loans. Private companies and investors offer hard money loans for a shorter period, but with higher interest rates and other expenses. Unlike banks, which focus on a borrower’s ability to repay a loan, hard money lenders typically look at the value of collateral when deciding to issue a loan. This is where Barrett Financial Group actively works with its clientele who invest in Arizona real estate, they fund millions of hard money loans for investors each month in Arizona and California. Barrett Financial Group offers the highest level of service in all aspects of real estate investing, trust deeds/mortgage investments and investor education. They are driven by service, not sales, and are committed to providing real estate professionals with the tools necessary to succeed.
The Arizona The hard money mortgage market has grown significantly since the 2009 mortgage crisis with the passage of the Dodd-Frank Act. Dodd-Frank has created new obligations for lenders who lend money for residential properties under certain circumstances. It has also potentially made this type of lending more attractive for commercial real estate. The reason for this expansion is mainly due to the strict regulations imposed on banks and lenders in the mortgage qualification process. The Dodd-Frank and Truth in Lending Act sets out federal guidelines requiring mortgage originators, lenders, and mortgage brokers to assess the borrower’s ability to repay the loan on principal residences or expose themselves to huge fines for non-compliance.
Since the primary basis for granting a hard money loan is the liquidation value of the collateral backing the note, hard money lenders will always want to determine the LTV (loan to value) before proceeding with any financing extension. . A fixed money lender determines the value of the property through a BPO (broker price opinion) or an independent appraisal conducted by a licensed appraiser in the state in which the property is located.
Barrett Financial Group’s loan programs are designed to Arizona real estate investment professionals and to help make the investment financing process quick and easy. Their simple lending process allows customers to complete purchases in as little as 3 business days. They work with investors buying REOs, short sales, real estate auctions, trustee sales, trustee sale refinances, private parties, and even home building projects. Their programs focus on single family (unit 1-4) residential properties throughout the state of Arizona and California.
Barrett Financial Group are private lenders experienced in all aspects of home loans, from refinancing, to fixed and reverse loans, to bridging loans. As a client, you will quickly and efficiently receive the financing you need from safe and trustworthy lenders. Barrett Financial Group’s goal is and always has been to help people achieve real estate success. Barrett Financial has several extremely reputable investment partners, but is always ready to open the door to more.
You can learn more about Barrett Financial Group’s new hard money lending programs by visiting http://hardmoneylendersarizona.com/ or emailing [email protected] with any questions you may have.
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SOURCE Barrett Financial Group