At A & A Funding, we pride ourselves in our responsive, innovative, experienced, and service-oriented approach. If you find yourself with last-minute loan rejections from traditional lenders, we can step in and finalize agreements quickly, with far less paperwork and fuss than typical banks. As private lender in Arizona, we specialize in fast closings due to having in-house underwriting, processing and Loan Document preparation, so transactions fund quickly.
The US Property Market Is Extremely Competitive Right Now
During the coronavirus epidemic, Americans who wanted to buy a home faced fierce competition from rising homebuyer demand and a scarcity of available properties. Bidding wars are so intense currently that nearly half of all properties sell for more than they were listed for.
Particularly in Phoenix, the real estate market has not only recovered from the effects of COVID-19, but demand has also increased. In February 2022, the Case-Shiller home price index, which tracks repeat sales, rose 32.9% year over year in Phoenix, well above the national average of 19.8%.(1)
By May 2022, Phoenix home prices were up 24.8% compared to last year, selling for a median price of $470K.(2)
So, Your Bank Has Turned You Down For A Residential Property
Have you been turned down by your bank just weeks before you’re scheduled to close? A & A Funding can help save the deal. We appreciate the time invested on your part and the stress that comes with last-minute loan rejections. Fortunately for you, A & A Funding is the perfect go-to in this situation. We strive to provide hassle-free bridge loan & multi-property blanket loans and understand the importance of securing your residential property.
There are many advantages to investing in real estate. Investors can enjoy consistent income flow, good returns, tax advantages, and diversity with well-chosen assets, and real estate can even be leveraged to build wealth.
The question of whether buying a residential property was a good investment or not was sent to over two dozen financial and real estate specialists by Forbes Advisor. With results showing that the majority of people (57%) believe that purchasing a home is a good investment. “Owning a home is how most Americans build wealth. A portion of every housing payment made by a homeowner is applied toward paying down the home loan balance (principal payment), which increases the equity in the home and helps to build a homeowner’s net worth.” 3
Homeowners have a net worth that is more than 40 times that of renters, reinforcing the notion that owning a house is a wise financial decision.
The benefit of homeownership, however, is not simply the house you own (or are mortgaging, in the case of many individuals), but also the financial attitude that got you there. To buy a home, you must be financially responsible.
According to Sean Wilson, senior director of product and portfolio solutions and distribution at the financial services business TIAA, this wealth-building mindset certainly influences other financial decisions such as saving, spending, and investing.
“Once the home is purchased you build equity through forced savings and now you are an investor. Behaviorally, those are some wealth-building patterns,” Wilson says. “Real estate helps establish a structured and disciplined investment plan.” (3)
Hard Money Lenders Arizona
Being a multi-generational family-owned & operated business for more than 40 years, our expertise stretches far beyond just lending. We work closely with each client and have the knowledge of dealing with a multitude of “problems”. As hard money lenders in Arizona, our loans are catered to your unique situation. No matter your financial situation, whether it is poor credit, complicated tax returns, or you’re having difficulty proving your income, A & A Funding can still find ways to ensure you are qualified.
We take into consideration compensatory variables such as the value of your home and loan, as well as your down payment and other criteria. We can create almost any of our loans with interest-only payments, which can help you save money on your monthly bills.
Investment properties, owner-occupied residential properties, partially finished projects, Rehab or Improvement projects, and commercial income or owner-occupied properties are all acceptable.
If you want to see if a hard money or non-prime loan is a viable option for you, get a quote online now. Our dedicated trusted, and friendly team will be happy to assist you.
References:
1: https://www.noradarealestate.com/blog/phoenix-real-estate-market/
2: https://www.redfin.com/city/14240/AZ/Phoenix/housing-market#demand
3: https://www.forbes.com/advisor/mortgages/is-buying-a-home-worth-it/