If you’re searching for private lenders for mortgage in Phoenix Valley; Brad Loans can help. We are a private lender offering loans for the purchase of homes in Arizona. Our mortgage loans are available for both owner occupied purchases and investment property buys such as fix and flips. As a private lender we provide mortgages for individuals who are not able to get a mortgage from conventional lenders.
Mortgage Loans For Home Buyers
If the bank said no to your mortgage loan, we may still be able to help! Private lenders are able to offer mortgages with more flexible requirements. So if you have poor credit scores, aren’t a citizen, have short sales, or even bankruptcy we may very well be able to help you find the mortgage you need.
Mortgage Loans Property Investors
For investment property loans we will consider offering funding that’s secured by real property in Arizona. There are a wide variety of types of investment properties we can provide a mortgage for, including: apartment buildings, condos, owner occupied single family homes, non-owner occupied single family homes, hotels, motels, manufactured homes, office buildings, restaurants, senior care facilities, churches, and more. As a private lender we offer loans based upon the merit of an investment and don’t have the red tape of banks and traditional lenders.
Mortgage Loans Property Rehabilitation
The industry of property rehabilitation, or real estate fix and flip, is alive and well. If you’ve found a property you want to rehabilitate Brad Loans may be able to help. We are faster to fund and don’t have the same credit requirements that banks have. Get your funding fast and snatch up prime rehabilitation projects faster than the competition with our fast lane funding.
Private Mortgage Lender Types
There are two types of private lenders which might be able to help you get a mortgage. Each of them have pros and cons. Read more to judge for yourself which fits your needs best.
Personal Lenders
A personal lender is someone you know who can loan you the money for the purchase of real estate. There are some factors to keep in mind when you choose this type of funding.
- Borrowing large sums of money can change your relationship with the friend or family member making you the loan. Ensure you’re ready for this potential outcome.
- Protect yourself and the personal lender by getting the loan agreement drafted by a title company or attorney. A verbal agreement is far to casual for a mortgage and leaves both parties vulnerable.
- When large sums of money change hand between family or friends there are tax considerations. Consult with a CPA to understand what the tax implications will be and finalize the repayment terms and interest rate.
Investment Lenders
Investment lenders are typically a group or individual who offer mortgages based on potential profit versus risk. Each application is carefully reviewed but do have the ability to approve mortgages that conventional lenders cannot. This is due to the fact that conventional lenders have boards and stockholders to answer to where private groups and lenders take the responsibility.
Why Get A Mortgage From Brand Loans?
Banks require an enormous amount of documentation as part of the application process. On paper it may even look like you won’t be able to repay the loan, even if you have the income to more than do so. Not having the best credit history or not being able to provide sufficient documentation can prevent you from getting a loan from conventional mortgage lenders.
Brad Loans, as a private lender, is able to offer mortgages to home buyers, property investors, and even individuals interested in purchasing a property to rehabilitate. Click here to: apply for a private lender mortgage from Brad Loans.
