Top Arizona Hard Money Lenders Include Barrett Financial Group, Prime Plus Mortgages, and LM2 Investment Group
Arizona is undoubtedly one of the best states to invest in real estate in 2022. Arizona is constantly attracting new residents with sunny weather, low humidity, and friendly locals, as well as its vibrant economy and laid-back culture. Perhaps due to these factors, both single-family home and multifamily property prices and rents have continued to skyrocket. In fact, in Arizona, from April 2021 to April 2022, average residential real estate prices spiked a staggering 24.3%.
While there are a variety of financing options available for single-family, multifamily, and commercial properties, hard money loans are often the fastest and easiest type of financing to acquire and are available even for borrowers with bad credit, legal issues, or little real estate investing experience.
So, if you’re looking for hard money financing in The Grand Canyon State, you’ve come to the right place. Our list of the best hard money and private money lenders in Arizona takes into account various factors, including Google and Yelp reviews, their overall online presence, and the scope and quality of loan options available to these lenders. So, whether you’re looking for a private lender in Phoenix or a hard money lender in Scottsdale, we have you covered.
1. Hard Money Lenders Arizona: Barrett Financial Group
Hard Money Lenders Arizona is the core brand of the Barrett Financial Group and is based in Phoenix, Arizona. Hard Money Lenders Arizona offers loans for a variety of unique situations, including traditional buy and hold residential and commercial purchases, short sale, probate and inheritance situations, trust deed investments, REO purchases, fix and flips, owner-occupied properties, cash-out refinances, trustee sales, and new construction.
The firm can finance a wide scope of property types, including single-family, multifamily, retail, office, industrial, hotel, self-storage, assisted living, mixed-use, hotel, land, and even church loans.
They offer loans with LTVs of up 90%, rates starting at 7.99%, and terms between 3 months and 60 months. The company also prides itself on its speed, claiming to approve most loans in as little as 24 hours.
Hard Money Lenders Arizona is led by Michael Iuculano, a mortgage loan originator with over 20 years of lending experience.
2. Signature Home Loans Presents The Mortgage Brothers Team
The Mortgage Brothers Team is one of the most prominent mortgage lenders in the Phoneix, Arizona area. They offer a wide variety of loan products, including conventional home loans, FHA and VA loans (including the FHA Streamline Refinance program), jumbo loans, reverse mortgages, and a wide array of other lending products.
The Mortgage Brothers Team does not technically claim to offer hard money loans, however, they do offer very similar asset-based financing in the form of DSCR loans. Their DSCR loans, intended only for investment properties, have lower rates and fees than hard money, provide LTVs up to 80%, and offer loans of up to $3.5 million. Like many hard money loans, no personal income or employment verification is needed, and borrowers can qualify with credit scores as low as 620.
The Mortgage Brothers Team is led by Senior Loan Officer and Owners Eddie Knoell and Thomas Knoell, Jr., both of whom have around 20 years of experience in the real estate financing industry.
3. Prime Plus Mortgages
Prime Plus Mortgages is perhaps the fastest-acting hard money lender in Arizona, as it claims to provide loans in as little as one hour. The Scottsdale-based lender is focused on serving real estate investors with a variety of loan products, including traditional hard money loans, soft money loans, bridge loans, fix-and-flip loans, short sale loans, and home rehab loans. It also allows individuals to invest in the company’s private trust deed mortgage notes.
Like many other hard money loan programs, Prime Plus’s lending program does not require income or credit verification. Their traditional hard money and bridge lending programs provide up to 90% LTV at a 10%-16% interest rate, and have no prepayment penalties.
Prime Plus Mortgages is led by Loren Howard, who started the company in 2012.
4. LM2 Investment Group
LM2 Investment Group is a Scottsdale-based hard money lender which provides a wide variety of loan options to borrowers. Their many specialties include fix and flip loans and traditional investment property loans. Their fix and flip loan program provides leverage up to 90% of LTC, does not have any documentation or asset requirements, and functions as a 6-12 month interest-only loan with a 12-14% interest rate. Extensions provisions are available for qualified borrowers. Their interest-only investor loans provide 1-2 year financing terms, also do not require borrower documents, and provide leverage up to 75% LTV, with interest rates between 10-14%.
Other specialties include land loans, bridge loans, general rehab loans, construction loans, transactional funding, REO purchases, cash-out refinances, trustee sales, and short sales. LM2 can provide funding within 24 hours of the initial loan application.
LM2 Investment Group is led by Director Michael Corgiat and Senior Partner Lance Comstock.
5. Capital Fund 1
Capital Fund 1 is another Scottsdale-based hard money lender that specializes in fix and flip, construction, commercial, and land and development hard money loans. Other specialties include multifamily hard money loans, commercial foreclosure auction loans, and cash-out refinances.
In addition to operating in Arizona, they also offer loans to clients in Texas and Colorado. Capital Fund 1 does not require credit checks or personal tax returns, and, like many other hard money lenders, can fund loans in as little as 24 hours. Unlike many hard money lenders, however, the company does not require prepayment penalties on their loans, which can significantly benefit borrowers who may want to pay off their loans early.
In addition to their traditional lending programs, Capital Fund 1 provides a “high roller” loan program intended only for experienced real estate investors, who generally have a lower default rate than traditional borrowers. Qualifying borrowers can achieve LTVs as high as 90%, rates as low as 8.99%, and lower loan documentation and origination fees. These “high roller” loans range from as low as $50,000 to as high as $1.5 million.
Capital Fund 1 is led by Senior Vice Presidents Kevin Highmark and Tyler Larson.
6. Geoff Ball - Applewood Funding
Geoff Ball at Applewood Funding is one of Arizona's most respected hard money lenders. His company, Applewood Funding, provides perhaps the largest scope of loans of any hard money lender in the Arizona area. Loans are available for challenged credit situations, cash-out refinances, foreclosure and pre-foreclosure situations, REO, construction, construction completion, and post-bankruptcy situations, and have no seasoning requirements. Applewood Funding provides fix and flip loans, buy and hold loans, and bridge loans for residential properties (both owner-occupied and non-owner occupied), multifamily properties (including 2-4 unit and 5+ unit properties), townhomes, condos, and general commercial properties including office, retail, industrial, and multi-purpose assets.
However, unlike some hard money lenders, a minimum amount of documentation is required. Loans are available in sizes between $10,000 to $1 million+. Cross-collateralized loans and loan terms up to 30 years are available.
Applewood Funding provides loans for properties in most large city areas of Arizona, including Phoenix, Temple, Chandler, Tucson, Sedona, Scottsdale, Peoria, Avondale, Glendale, Flagstaff, Prescott Valley, Surprise, Mesa, Gilbert, Payson, and Lake Havasu City, among others.
As you might expect, Applewood Funding is led by Geoff Ball, who has more than 10 years of experience in mortgage lending and loan origination.
7. American Life Financial
Mesa, Arizona-based American Life Financial is another experienced Arizona hard money lender. They emphasize what they call “not so hard money” loans, which means that terms and interest rates are often lower than other hard money lenders. However, this comes at a cost of extended closing times. According to the company’s website, loans generally close within 3-4 weeks, which, while much faster than bank loans, is a far cry from the 24-48 hours offered by many hard money lenders.
Like many other lenders on this list, American Life Financial offers loans on all types of commercial properties. However, unlike many other lenders, American Life Financial’s loans come without prepayment penalties, which can be ideal for borrowers looking to flip a property or quickly refinance an asset before the end of their initial loan.
American Life Financial is led by Scott Emrich, Director of Loan Originations.
8. Brad Loans by eMortgage Inc.
Scottsdale-based Brad Loans by eMortgage Inc. offers a wide variety of lending options for both owner-occupied and non-owner-occupied single-family and multifamily properties and a wide spectrum of commercial properties. These include unique property types such as horse properties, retail buildings, office buildings, industrial properties, and restaurants. The company offers short-term bridge loans and 30-year fully amortized loans with no balloon payment.
Maximum LTVs go up to 80% for regular properties and up to 100% LTV if the property is cross-collateralized by the equity in another property the borrower owns. Brad Loans offers financing with no prepayment penalty, and can “buy down” their interest rate with an origination fee of between 2-6% of the total loan amount.
Brad Loans by eMortgage Inc. is led by President and Loan Officer Brad Gilbertson.
9. Kenwood Mortgage Investments
Kenwood Mortgage Investments offers a variety of hard money loan options, including traditional residential loans, construction loans, fix and flip loans, multifamily and commercial real estate loans, residential loans, distressed property loans, foreign real estate investor loans, and land loans. They also fund specialty properties, including restaurants, assisted living centers, and horse properties. The company prides itself on its fast approval times, with most loans being funded within 3-5 days and some loans funded within 24 hours. Interest rates generally range from 8-12%. Loan amounts range from $50,000 to $25 million.
Kenwood Mortgage Investments is based in Scottsdale, Arizona, and is led by President Randy Persson.
10. Clear Mortgage
Tempe-based Clear Mortgage offers a suite of lending options, including fix and flip loans, bridge loans, and new construction loans. Clear Mortgage can fund projects in as little as 24 hours. Loans range from under $100,000 to over $5 million. The company finances projects in both Arizona and Utah.
Clear Mortgage is led by President Randy Coffman.
11. Level 4 Funding
Peoria-based Level 4 Funding prides itself on its low-interest loans, with fixed rates starting at just 5.99% APR. Level 4 Funding provides loans with flexible terms between 3 to 60 months, with LTVs up to 90%, including 100% of rehab costs. Loan options include fix and flip loans, multifamily and Airbnb loans, construction loans, and land loans. Other lending options include cash-out refinances and loans for commercial real estate. In addition to investment property loans, Level 4 also offers business loans starting at just 7.99% APR.
Level 4 Funding is led by Broker Dennis Dahlberg.
12. Hanson Capital
Scottsdale-based Hanson Capital Group is a direct hard money lender and a real estate investment firm. The firm funds fix and flip loans at up to 85% of the purchase price, land purchases at up to 70% of the purchase price, and up to 100% of the construction cost. Terms for their fix and flip loan program are generally between 6-12 months, with 0-2 origination points, 8-13% rates, and loan amounts between $50,000 and $5 million.
The company also offers bridge loans and cash-out refinances with similar terms, with cash-out refinances having 6-24 month terms and rates between 7-13%. Construction loans from Hanson Capital have 12-18 month terms and slightly higher interest rates, at 9-13%.
Hanson Capital is led by Founder and Principal Chris Hanson.
13. B.E. Lending
B.E. Lending, based in Phoenix, offers hard money and private money financing to borrowers in Arizona, North Carolina, Colorado, Texas, Utah, Tennessee, and others, on a case-by-case basis. They offer a variety of financing options, including mini-perm loans for recently constructed properties, commercial real estate loans, bridge loans, and construction loans. B.E. Lending lends to borrowers in a variety of situations, including cash-out refinances, fix-and-flip situations, auction deals, and foreclosure/trustee sales.
Their popular construction loan program offers loans up to 70% of a property’s ARV (after repair value). In addition, B.E.’s mini-perm loan program offers rates as low as 5.2%, with LTVs of up to 75% for refinances and 80% for purchases.
B.E. Lending is led by owner and CEO Michael Bennett.
14. Hilton Financial Corporation
Phoenix-based Hilton Financial Corporation offers borrowers hard money and private money loans in a wide array of scenarios. These include distressed sale and trust sale acquisitions, ground-up construction, remodeling, stage funding for manufactured homes, bridge financing, refinancing and cash-out refinancing, and small subdivision construction. Property types include 1-4 unit residential properties, condos, townhouses, small apartment buildings, small commercial buildings, residential and commercial lots, and minor subdivisions.
Hilton Financial Corporation is led by CEO Jack H. Wilton.
15. A&A Funding Corporation
A&A Funding Corporation provides loans for a wide spectrum of property types and situations. These include commercial real estate, lot, land, and construction loans.
The company offers up to 80% LTV for traditional hard money loans and 95% LTV for subprime hard money loans. Loans start from as little as $25,000 and can range as high as $1.5 million. Rates start at just 3.99% and range up to 8%. Terms include 1-3 year interest-only loan options as well as 5-30 year fully-amortized loans. In addition to loans for real estate, A&A Funding also offers working capital for businesses that can be collateralized by a borrower’s commercial building(s), home, or business.
A&A Funding Corporation is based in Scottsdale, Arizona, and is currently led by President Wayne Anderson.
Who are the Best Hard Money Lenders in Arizona?
Some of the best hard money lenders in Arizona include: Hard Money Lenders Arizona: Barrett Financial Group, Signature Home Loans Presents The Mortgage Brothers Team, Prime Plus Mortgages, LM2 Investment Group, and Capital Fund 1.
What is a Hard Money Loan in Arizona?
A hard money loan is a type of asset-based real estate loan that focuses on a property's value as collateral rather than the borrower's qualifications.
Do Arizona Hard Money Lenders Require Credit Checks?
Most hard money lenders in Arizona do not require credit checks for their basic loan progams, though they sometimes require them for long-term hard money loans and hard money construction loans.
How Fast Can I Get a Hard Money Loan in Arizona?
Some lenders fund loans in as little as 24 hours, while others may take up to 3-4 weeks.
What are the Interest Rates for Hard Money Loans in Arizona?
Interest rates are generally between 7-13%.