Who are the Best Hard Money Lenders in Phoenix AZ?
Finding the best hard money lenders in Phoenix is critical to your real estate investing success. Whether you’re new to real estate or are much more experienced, your hard money loans can end up costing you thousands of dollars if you aren’t careful. An unfavorable hard money loan can set you back thousands and thousands of dollars. On the flip side, hard money loans can provide the financing you need to make a deal possible. Phoenix hard money lenders can give you the buying power you need to secure your deal.
Phoenix has several private money lenders offering loans throughout the area. Several of them seem reliable with a good number of positive Google reviews and professional looking websites. Tthe median loan amount is about 300k. Interest rates on hard money loans for Phoenix investors average around 10-14%. The median loan term is around 20 months, making lenders here a bit more lenient of terms. Origination fees in the 2-4% range are common, and also have standard LTV averages around 70-75%.
Here’s our short list of the top 10 Best Hard Money Lenders in Phoenix:
- Hanson Capital
- Capital Fund 1
- Hilton Financial Corporation
- Signature Home Loans Presents The Mortgage Brothers Team
- Prime Plus Mortgages
- LM2 Investment Group
- Geoff Ball – Applewood Funding
- Kenwood Mortgage Investments
- Level 4 Funding
- B.E. Lending
Top 10 Best Hard Money Lenders in Phoenix AZ
1. Hanson Capital
Hanson Capital is a collateral based lender, meaning your credit isn´t as important as the real estate itself. They state their goal is to keep the process simple and move quickly from screening to close.
Hanson Capital comes highly rated on Google with clients boasting trustworthiness, easy processes and reliability. They offer hard money loans for commercial property acquisitions, construction projects, rehabs, or buy and hold properties in Arizona.
2. Capital Fund 1
Capital Fund 1 is a Scottsdale, Arizona-based hard money lender. They offer hard money loans throughout Arizona and Colorado. Capital Fund 1 provides financing solutions for real estate investors, including rehab loans, new construction loans, commercial loans, refinancing, investment property loans and more.
They’re highly rated on Google and very active throughout Arizona. The company states that their mission is to help real estate investors get their deals done.
#3. Hilton Financial Corporation
Hilton Financial Corporation is an asset-based hard money lender located directly in Phoenix, AZ. They offer loans for a variety of situations, including fix & flip hard money loans, bridge loans, construction loans, hard money loans for commercial properties, cash out refinancing, and long term rental property loans.
Jack Hilton of Hilton Financial has been in the industry for over 30 years. He’s well respected In the industry so you can be confident in his abilities. Their lending guidelines are pretty versatile, including loans with LTVs up to 80%. They make loans on various types of properties, including single family homes, small multi family properties, apartments, offices, retail storefronts, and more.
#4. Signature Home Loans Presents The Mortgage Brothers Team
The Mortgage Brothers have one of the highest amount of positive reviews on Google with nearly 200. They also are unique in that they are one of the few portfolio lenders we found in Arizona. They do also offer private money loans.
Being a portfolio lender gives them the ability to offer much more favorable rates and terms than hard money loan. The downside is that their portfolio loanss can take as long as 30-45 days to close. With that said, if you have the time, their definitely someone to check out for lower rates.
#5. Prime Plus Mortgages
Prime Plus Mortgages is an Arizona hard money lender headquartered in Scottsdale, AZ. They offer buy and hold loans, rehab hard money loans, and hard money bridge loans. Their rates and terms are very competitive and they rate very highly on Google.
They claim to have the lowest downpayment requirements and the fastest turnaround times of any hard money lender in Arizona.
#6. LM2 Investment Group
LM2 is another highly rated hard money lender on Google. With over 80 5 star reviews, they are one of the most reliable private money lenders in Arizona.
They offer short term fix and flip loans and also 1-2 year loans. Their APRs are slightly higher with rates around 16%, but they do offer LTVs up to 90%, no points and flat fee origination of only $1,000.
#7. Geoff Ball – Applewood Funding
Applewood Funding, Inc is a hard money lender in the State of Arizona. They’re widely used with nearly 5 stars on Google. Applewood specializes in hard to place hard money loans. They lend on an array of different types of properties and many different types of situations for real estate investors in Arizona.
They provide cash-out hard money loans, loans for investments properties, and rehab loans. They offer loan amounts ranging from $10,000 to $500,000 and terms between 3 months and 5 years. In addition, their loan guidelines do not include a minimum FICO rating, making them a bit more accessible for harder-to-place clients.
#8. Kenwood Mortgage Investments
Kenwood Mortgage is one of the original hard money lenders in Arizona. Based in Scottsdale, AZ, they fund many types of hard money investment real estate including residential, commercial, multi-family, and even land.
Their loan packages range from $50,000 to $25,000,000 with competitive rates and fees. Their customer service is often rated very highly as well.
#9. Level 4 Funding
Level 4 Funding has very competitive rates and pretty generous lending standards relative to some of the other hard money lenders on this list. Based in Phoenix, Arizona and Austin, Texas, Level 4 Funding LLC can loan on several different locations.
With a large number of positive reviews on Google, combined with their low starting rates of 5.99%, they’re definitely worth checking out.
#10. B.E Lending
B.E Lending loans on multiple property types including 1-4 units, condos, SFR, and townhomes. Their loan amounts range from $10k-15M with terms around 6 months. They offer LTVs at 80% with rates from 10-14%. They do charge points between 0-2%.
B.E Lending is well received by clients and their terms are pretty standard making them another reliable option in Arizona.
Best Hard Money Lenders Phoenix FAQ
Who is the best hard money lender in Phoenix?
Here’s our short list of the top 10 Best Hard Money Lenders in Phoenix:
- Hanson Capital
- Capital Fund 1
- Hilton Financial Corporation
- Signature Home Loans Presents The Mortgage Brothers Team
- Prime Plus Mortgages
- LM2 Investment Group
- Geoff Ball – Applewood Funding
- Kenwood Mortgage Investments
- Level 4 Funding
- B.E. Lending
What do Phoenix hard money lenders charge?
Hard money loan rates in Phoenix range from 8 percent to 16 percent for most fix and flip and shorter term loans. Many hard money lenders in Phoenix also charge points or origination fees on a loan that range from 0-3 percent. It’s also not uncommon for Phoenix hard money lenders to charge additional flat fees from $500-1000 which is a little different than many other states and cities.
Do Hard Money Lenders in Phoenix require appraisals?
With most hard money lenders in Phoenix, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What is hard money in Phoenix?
Hard money loans in Phoenix are loans secured by real estate used to purchase or rehab that piece of property.
These short term loans are used to purchase and/or rehab residential or commercial properties. They’re usually more expensive than traditional loans but can be closed faster and oftentimes with less credit requirements.
