How to Qualify

How to Qualify With is Arizona’s leading hard money mortgage lender! What does that mean for you?

It means whether you’ve had a foreclosure, a short sale, a discharged bankruptcy or have no established credit — and even if you’re not an American citizen — you could qualify for a loan with us!

Regardless of credit issues, you’ll most likely qualify for a no-prepayment-penalty eMortgageAZ loan. Our loans have incredibly easy borrower qualifications to meet:

  • Owner-occupants: You’ll need cash for a down payment as a buyer or adequate equity as a refinancer. You’ll also need cash for closing costs and loan fees, plus proof of income demonstrating that your total monthly debt repayment — the eMortgageAZ Loan in addition to any credit card debt, student loans or car loans, for example — is less than 45 percent of your gross income before taxes.
  • Investors: You’ll need working capital funds and proof of adequate down payment as a buyer or adequate equity as a refinancer.

Once you’re approved, you need just a few more things to receive your funds:

Arizona owner–occupied and residential mortgages:

  • Your down payment — often as low as 20 percent
  • A bank statement showing funds available for the loan fees and third-party closing costs
  • A copy of your IRA or 401(k), if applicable
  • Proof of income: You can provide this with 30 days of paystubs and the last two years’ worth of federal tax returns and W-2s or 1099s. In lieu of tax returns, you can provide the last 12 months of bank statements. We’ll use these to determine your average monthly income.
  • A copy of your purchase contract, if available (this is not required for refinancers)
  • A U.S. or foreign ID
  • Your appraisal and title report — we’ll order those for you!

You’ll receive your funds seven to 10 days after applying.

Arizona hard money loan investors:

  • Cash down payment of between 30 and 70-percent loan to purchase price or after repair value
  • Up to 100-percent loan to value of purchase price if doing cross-collateralization
  • A bank statement demonstrating available working capital
  • A copy of your IRA or 401(k), if applicable
  • A copy of your lease(s), if applicable
  • A copy of your purchase contract
  • A valid U.S. or foreign ID
  • Your title report and appraisal — we’ll order those for you!

Once everything’s approved, count on receiving your funding in only three to five days after applying.

It takes only five minutes to fill out our online loan application, so what are you waiting for? Take one simple step toward your approval today.

Call 480-948-0880 if you have any questions!