Tuesday, August 18, 2015

Private Lender Level 4 Funding Can Get You the Texas Home Loan You Need!


Are you looking for a hard money loan but you don’t know where to start? Well congratulations because you have definitely come to the right place. Understand that everyone knows know, well maybe aside from the banks, that getting a house right now is really difficult. There is a lot of financing involved and if you don’t qualify for the kind of soft and traditional bank loan your parents probably received, then you might think buying a house just isn’t in the cards for you. Maybe that’s because when the economy went bad so did your credit or maybe that’s because you don’t even know where to start with your finances. Well, don’t worry because you can still get your Texas home loan and you can get it faster than a traditional bank loan any day. Just read on for an explanation.


For one, a traditional bank loan takes forever because they want it to. There’s a lot that goes into the traditional bank loan that doesn't with the hard money lender. For example, the mountains of paperwork. You can forgo all that and still get the Texas home loan that you need for your purchase. It’s easy to talk to a hard lender about your Texas home loan to get all the facts. You can get the condo or the town home that you want by talking to a home loan Texas  and making some adjustments and talking to your private money lender who sees your probably home as an asset. This is unlike a normal loan where you use your credit score and that’s why it is called a hard money loan. You have a hard asset. Talk to your private money lender and get your Texas home loan today.



Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 

Texas Tel:     (512) 516-1177 
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027



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Monday, August 17, 2015

How to Choose Your Texas Mortgage Broker



Finding a Texas mortgage broker can be a daunting task. There are a lot of dishonest people out there and how can you trust anyone you find over the internet? Before you do something you’ll regret, stop flipping through those yellow pages and do your research! Your Texas mortgage broker is, essentially, going to determine a big part of your future. Don’t trust just anyone with this task. While most of the home loan application and process is solely based on you and your situation, you still need to find someone you can trust who will represent you honestly and positively.


What attributes do I look for in a Texas Mortgage Broker?

You need to find a Texas Mortgage Broker who treats you like a person and not a paycheck. Develop a relationship with them—you will be working with them for a long time until the loan process is complete. Don’t just choose the first one who comes up on the internet. Here are a few attributes to look for:
-Honesty. Obviously. But do your homework! Ask friends and neighbors for referrals, go with your gut, don’t let them fool you. Some of them will inevitably try. Make sure there are no “elephants in the room,” and if you feel uneasy about them, move onto the next one.
Arizona Home Loan

-Integrity. Don’t lie to them and don’t let them lie to you. Be honest if you have poor credit history or a shady financial past. It doesn't ruin you, but dishonesty will bring you down. Texas mortgage brokers are on your side…tell them everything and don’t let them jerk you around.
-License! They have to have a license. Don’t work with anyone who doesn't. Each state has their own laws regarding real estate, so check with your state and make sure your broker matches up. If you’re suspicious, ask for proof of their license and qualifications.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 

Texas Tel:     (512) 516-1177 
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027



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Bad Credit Home Loans Texas: How to Make Money with Hard Money Loans



If you have bad credit you most likely think that real estate investing is impossible. However, with bad credit home loans Texas and hard money lending there are options for individuals with bad credit to take advantage of real estate investment opportunities.

Most financial experts will tell you that real estate is a sound investment. Real estate has consistently earned money over time and is a way to help build your investment portfolio and personal wealth. However, for many individuals with bad credit, real estate investing has been beyond their reach using traditional loans. Approximately 42.5 million Americans have a bad credit score and are considered sub-prime borrowers. If you are in the market to start real estate investing but you have bad credit, there are a variety of bad credit home loans Texas mortgage brokers recommend.

One type of loan available to sub-prime borrowers is a hard money loan. A hard money loan is a specialized type of real estate backed loan. The lender is an investor or group of investors rather than a bank. The lender offers short term capital loans to purchase investment properties. The term of a hard money loan is generally no more than two years and is designed to make money on real estate for both the borrower and the lender. Hard money lenders focus on the value of property being purchased rather than the assets or credit score of the borrower. For this reason a hard money loan is an invaluable opportunity for an investor looking for bad credit home loans Texas mortgage brokers recommend to purchase a property as a short term investment. 

Hard money loans are available for all property types including commercial, residential, multi-family, and even land loans. Each lender or group of lenders determines the requirements for what types of loans they will give as well as how much money they will lend. If the lender gives loans on residential properties he/she/they are required to be licensed through the National Mortgage Licensing System (NMLS). In order to sure that the lender you are using meets all requirements, it is best to use a broker or investment team that specializes in hard money lending. 

Hard Money Lending Regulations


Although hard money loans have significantly less regulations than traditional mortgages, there are certain federal regulations that apply to hard money lenders. For most property types, hard money lenders do not require the same income verification or credit score guidelines that traditional banks do. This is part of what makes them ideal bad credit home loans Texas residents with bad credit can use, as they look at the value of the property from an investment standpoint, not based on credit or income. However, it is important to note that hard money loans are more risky for the lender and therefore come with a higher interest rates. In addition, if you are taking out a hard money loan on a residential property, you will be required to some proof of ability to repay the debt. This means some type of proof of income though it is usually less stringent than what a bank requires. 

When you take out a hard money loan, the property that you are investing in becomes the collateral. If you default on the loan, the lender will seize the property to protect its investment. If you take out a hard money loan, make sure that you will be able to pay the loan back in full at the end of the term by either selling the property or other means. When you sell the property you keep any money that is earned above the amount of the loan and any accrued interest. 

Talk with a mortgage broker or investment company about hard money lending.


A financial professional or mortgage broker can help you decide if a hard money loan is a smart financial choice. It is a great way for Americans with bad credit scores to start taking advantage of real estate investing. In addition, hard money loans can benefit prime borrowers as well. If you already own a home you may not qualify to purchase an investment property based on your debt to income ratio. A hard money loan can be a great work around to get you into the real estate market. Call a broker or your financial adviser to learn more today.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 

Texas Tel:     (512) 516-1177 
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027



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5 Things You Need to Know About Texas Private Money Loans

When is a Texas Private Money Loan a good option for me?


There are times when Texas Private Money is the best option for those seeking a loan. Usually it is when they need to turn to another source after a bank has deemed them to be too much of a risk. If you are unable to get a loan through the bank, finding a private money source may be the answer that you need! There are some things that you should know about Texas Private Money before you decide, so that you can make an informed decision.

  • Texas Private Money is a term in banking and finance that refers to lending money to a company or individual by a private individual or organization. While most usually think of a bank when deciding to borrow money, private money is offered by individuals or organizations. These certain individuals and organizations may have different qualifying guidelines then you would usually expect. There are higher risks associated with private lending for both the lender and borrowers.
  • For the most part, Texas Private Money Lender may be close to the nation’s average interest rates, but in some cases you will find that it be extremely expensive. The higher interest rates usually occur when there is a larger anticipated risk. It is when there is a higher risk associated with the loan that the private money lender increases the interest rates. So in these circumstances your interest will be higher than the going interest rate. This is the risk that comes to both lender and borrower in a private money exchange.
  • Private money lenders can be found almost everywhere. Their object is to make an above average profit on the return of their money. There are some serious risks that come with that return, however. They may not be repaid, and often fear that they will not be paid on time. Many times they will quickly resort to legal action. In some cases of real estate, the lender will get a deed of the property in their name so that if they are not paid they can sell the house to cover the cost of the loan. They may also get insurance to prevent losses due to any catastrophe on the property. In these ways, Texas Private Money lowers the risks that come with loans.
  • Texas Private Money lenders are not able to work outside the banking laws, and are required to comply with state and federal usury laws. But they are able to avoid some of the red tape and regulation that banks must abide by such as banking exams. Private money lenders may also have a limit on how many loans they can give in a year within a single state before they have to get a banking license.
  • All who are interested in Texas Private Money should take extra consideration. Many do not recommend private money loans for residential homeowners. Indeed, Texas Private Money is usually only used for business capital. You should also have an accountant to advise you, as well as a real estate attorney to help guide and protect you. Often private investors do not have all the knowledge and understanding needed to work outside of a bank. Very often these agreements end up in court, so it is helpful to be well advised before it gets to that point.

How can I get a Texas Private Money loan?

Many businesses and organizations will advertise that they offer Texas Private Money loans. Be sure to check into their background and make sure that they are the kind of people or organization that you feel comfortable dealing with. Chances are you will be working with them for a long time. Many organizations are willing to take a risk on you with your loan; just be sure that you are willing to do the same. In the end, it is just as much your money as theirs.

How can I find a trustworthy Texas Private Money lender? 

What are some things that I should look for?



Ask them if they belong to any organizations for Texas private money lenders. That way they are somewhat accountable and you have a place to appeal to if needed, before going to court. It would also be helpful to look through their credentials, and check with others that have borrowed from them. Most Texas Private Money lenders are honest and helpful, it just helps to make sure you are dealing with one of those.

Texas Private Money loans are extremely helpful for those who the banks have declared to be too much of a risk. By following these guidelines you will be sure to be as well protected as you can, and to get the money that you need.




Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 

Texas Tel:     (512) 516-1177 
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027



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Sunday, August 16, 2015

Texas Mortgages for Bad Credit to Buy a House


 Most of us think that many Americans are settled as to where they are living, but the truth is most of them want to live in Texas. With a wide range of places to choose from, why would they want to settle in Texas? They choose Texas because of the following reasons:
  • It has a nice sunny weather and mild winters
  • It is very rich with theater productions
  • The place has maintained its cleanliness
  • There are so many shopping centers, malls, and restaurants to shop and eat from
  • And the landscape provides a lot of outdoor activities for the whole family.
Texas has been everyone’s dream place to build a home. However despite the reasons above, some people could not reach their goal of moving to the sunny state of Texas because of their bad credit.

Bad credit is a description of a person’s failure to keep up with their credit agreements and their incapacity to be approved for a new credit. They call it bad credit when it happens several times, which is the same with bad credit mortgages. The only difference between types of mortgages, are higher interest rates and charges. People with bad credit are individuals with the following issues:
  • Bankruptcy in less than 2 years
  • Foreclosure within the last 3 years
  • Low credit scores that are below 620

But luckily for those who want to live in Texas with bad credit, there are some lenders that have the ability to approve an Texas mortgage for bad credit. This can help borrowers with low credit score loan a home even if their credit is less than perfect.


Hard Money Loan
These types of loans are usually offered by groups of investors and not the bank. This can benefit new homeowners who are looking for a short-term purchase. Since the lenders are investors, they are more likely to give loans to borrowers with low credit scores. However, hard money lenders can qualify for a loan amount based on the value of the real estate that is used as collateral. The biggest loan borrowers can expect from their lenders would be 65% to 75% of the property value. For example, if the property were worth $100,000, the lender would probably advance 65% to 70% of the property value. This will provide the lender added security if ever the borrower does not pay and they have to foreclose the property.

FHA Loan
This is another type of Texas mortgage for bad credit loan where the loan is backed-up by the US Federal Housing Administration mortgage insurance, which is provided by an FHA-approved lender. This allows first-time homebuyers and current homeowners to buy a home with less than a 3.5% down payment. Great news for borrowers without a large amount of cash assets! With the government insuring the loan, borrowers end up paying PMI or Primary Mortgage Insurance, which can range from 80 to a few hundred dollars. Using PMI will slightly increase the borrower’s monthly mortgage payment. However they are only entitled to finish this payment until they have paid off 20% of their home loan.

Subprime loans
This loan is given to borrowers who are having a hard time maintaining their payment schedules due to unemployment, divorce or medical emergencies. This loan is characterized by the following: poor quality collateral, higher interest rates and with less-favorable terms to pay off higher credit risks.

                So, what are you waiting for? Texas is just a loan away from you and your family. With all the types of Texas mortgage for bad credit listed above, you can choose the right one for your individual needs. Even with a bad credit, your dream of having a home can come true.





Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 

Texas Tel:     (512) 516-1177 
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027



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Why are Sub Prime Mortgages Making a Comeback? Your Guide to Bad Credit Mortgages

Sub Prime Mortgages are back (they really never went away).  But what is a Sub Prime Mortgage?


It’s a home mortgage loan for borrowers who have a credit issue giving them a low credit score.  Typically a credit score below 550.  Bad credit sub prime mortgages are easier to qualify, since the lender is focusing more on the asset value and loan to value rations.  They lenders are more flexible in the lending criteria. 

Bad credit mortgage loans have higher interest rates and higher down payments than regular mortgage loans. Typical rates as of today start at 8% with a 30% down payment. 

If mortgage is for an owner occupied home, then the lender will have to determine if the borrower can afford the payment on the loan.  This is called Debt to Income Ratio, or DTI.  The ratios are typically 35/50%.

In the mortgage world, there is a loan for everyone.
It just depends on down payment and interest rate.

However there are some items that will stop a deal dead in its tracks, even for a Bad Credit Mortgage.  Typically the lender will not loan if the borrower has outstanding judgments, IRS Tax Liens, or is involved in a law suit or criminal charges.

Most people prefer to use a bad credit mortgage loan simply to get into a home and help rebuild credit.

Bad credit (or sub prime) mortgage loans are specialized mortgage loans designed for borrowers with credit issues. Bad credit mortgage tend to have higher interest rates and higher down payment requirements than regular mortgage loans. The higher interest rates mean that bad credit mortgage loans also tend to have higher monthly payments than regular mortgage loans. However, there are many options that you may qualify for so call Level 4 Funding today to make your dreams a reality. 


Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 

Texas Tel:     (512) 516-1177 
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027



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