Hard money loans in phoenix az

Hard money lender means a lending company that gives specialized loans with real estates' backing. These companies offer private loans based on the value of a real estate. The value of an actual estate is usually collateralized for your loan being applied for from the owner.

Hard money loan providers, who are also generally known as private lenders, usually use interest rates that are twice as high in comparison to traditional lending institutions. This is their way of ensuring the survival of their business. Private lenders grant credit even to those who have poor credit scores, making them more susceptible to loan defaults. They lose a lot of cash when this happens and the only method they can keep operating is with a high interest.

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