When your credit is tight, Kingman, AZ hard money lenders can provide you with the finances that you need. Kingman, with a total area of 30.0 square miles, is the administrative center of Mohave County in Arizona. The population of the city is at 27,271 according to the estimate of 2006 Census Bureau.
Securing Kingman hard money requires that you have a real estate from which Kingman, AZ hard money lenders can gain profit. Hard money lenders in Kingman are private individuals who are expert in real estate and can take great amounts of risk. Despite the risk, hefty profit is expected from lending private money.
Most individuals who borrow from Kingman, AZ hard money lenders are in dire need homeowners with nearly foreclosed properties, delinquent borrowers who need quick cash to keep their businesses running, or businessmen who are about to close a good deal but do not have funding and cannot wait for the banks to process their loans the traditional way. Hard money lenders evaluate the borrower\\'s property and check whether they could gain from the sale of the property should the borrower default on the loan.
Since the borrower is using money of private individuals, loan rates can be as high as 14% to 16% depending on the market rate. Hard money lending is business and the goal of the lenders is to profit, thus they charge fees upfront. Private hard money lenders, though often considered as a borrower\\'s last option, can prove to be helpful especially to those who are facing foreclosures or are needing loans under unusual circumstances.
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