The amount of money the Atlanta Direct Private Money Lenders will lend is usually 65 percent of the total value of the property to be purchased. Smaller loans of $75,000 and larger commercial loans of up to a million dollars, sometimes more, are approved. They provide funding to borrowers who are planning to buy commercial real estate or land to be developed.
Other reasons for needing the loan money in a rush include impending foreclosure, tax liens, legal judgments and any business cash flow problems a business may encounter. In Georgia, they are willing and able to provide the required funds when banks and other lenders refuse. Their extensive knowledge and experience makes this possible.
A hard money lender is one who specializes in providing high interest loans for the purposes of land development and other property acquisition situations. These are high risk loans and, as such, may have high interest rates. The loan organization provides the borrower with the funding needed faster than other sources.
Time is of the essence and an answer is provided quickly. The familiarity these lenders have with the market make it possible for them to make a quick decision. There are no fees for the borrower to pay prior to being granted the loan. Closings happen fast and each loan is structured in the most advantageous way for the borrower.
Some examples of private lending loans approved in the Atlanta area were $450,000 for an occupied building, $325,000 for the refinancing of a medical building located in Savanna and another for over two million dollars for a building that was vacant. One company has granted loans totally more than thirty million dollars in private loans.
Loans are granted to realtors, brokers, attorneys and real estate developers. They understand the borrowers have a need to move fast to purchase a property for development or rehabilitation. The terms are discussed and structured to suit the needs of both parties. The entire process is done faster than any bank or other lender can manage to do it.
The Atlanta Direct Private Money Lenders will approve loans a bank will not. Of course, the interest rates are higher, but, the advantage of fast disbursement makes it acceptable. The real estate investor is able to negotiate the deal with the seller because the funding is intact. All terms are clearly explained and written in the contract giving both parties financial security. It is clearly understood what would happen if the borrower were unable to make the payments on time.
Other reasons for needing the loan money in a rush include impending foreclosure, tax liens, legal judgments and any business cash flow problems a business may encounter. In Georgia, they are willing and able to provide the required funds when banks and other lenders refuse. Their extensive knowledge and experience makes this possible.
A hard money lender is one who specializes in providing high interest loans for the purposes of land development and other property acquisition situations. These are high risk loans and, as such, may have high interest rates. The loan organization provides the borrower with the funding needed faster than other sources.
Time is of the essence and an answer is provided quickly. The familiarity these lenders have with the market make it possible for them to make a quick decision. There are no fees for the borrower to pay prior to being granted the loan. Closings happen fast and each loan is structured in the most advantageous way for the borrower.
Some examples of private lending loans approved in the Atlanta area were $450,000 for an occupied building, $325,000 for the refinancing of a medical building located in Savanna and another for over two million dollars for a building that was vacant. One company has granted loans totally more than thirty million dollars in private loans.
Loans are granted to realtors, brokers, attorneys and real estate developers. They understand the borrowers have a need to move fast to purchase a property for development or rehabilitation. The terms are discussed and structured to suit the needs of both parties. The entire process is done faster than any bank or other lender can manage to do it.
The Atlanta Direct Private Money Lenders will approve loans a bank will not. Of course, the interest rates are higher, but, the advantage of fast disbursement makes it acceptable. The real estate investor is able to negotiate the deal with the seller because the funding is intact. All terms are clearly explained and written in the contract giving both parties financial security. It is clearly understood what would happen if the borrower were unable to make the payments on time.
About the Author:
Tom G. Honeycutt is a full-time real estate entrepreneur in Atlanta, GA. Tom helps readers by providing practical and useful knowledge to better understand lending choices. If you are looking for Atlanta hard money home loans | home real estate loans, Georgia He suggests you check out the website iFund International
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