Arizona Private Mortgage Money
Arizona Private Mortgage Money is available to borrowers who cannot acquire an institutional loan (FHA or Conventional loans). At this current time in our market, there are hundreds of thousands of Arizona borrowers who are not eligible for FHA or Conventional financing due to an Arizona Short Sale or Foreclosure. There are other reasons that a borrower would not be eligible for a FHA or Conventional loan, e.g., the borrower’s debt to income ratio is too high, or the borrower is a foreign national. Private Mortgage money is an option for borrowers when they find themselves without institutional avenues.
Private Money will require borrower to put down a large down payment, generally 30% or more. The interest rates are set on a case by case basis.
Note: Private Money should not be used as a long term financing solution. It is a shorter term loan by nature and requires borrowers to have an exit strategy.
Please call me to discuss your particular scenario.
