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Atlanta Direct Private Money Lenders offer to fund smaller loans of $75,000 and larger commercial loans up to an unlimited amount depending on the value of the property to be purchased. In most cases the amount is limited to 65 percent of the total value of the intended purchase. They service borrowers who need cash in a hurry to purchase commercial real estate, for example.
There are reasons other than investment or development that a loan may be needed. They include a threat of foreclosure, a tax lien, a legal judgment or a failing business that needs an influx of cash. The direct lender in Georgia is able to lend the required funds that banks may refuse to approve. Their familiarity with finance makes it possible for them to do it quickly.
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.
If time is of the essence, the private lender can provide a yes or no answer to the applicant very quickly. He is familiar with the real estate market, which enables him to make the quick decision. There are traditionally no application fees. A closing on can be scheduled in a short time and it is structured to suit 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 of this type can be negotiated with realtors, real estate brokers, real estate investors and attorneys. Actually, they will negotiate with anyone needing fast funding to purchase real estate property. Any developer can repay on a schedule tailored to fit his needs. A borrower can get through the procedure more quickly than if he were dealing with another type of lender.
Atlanta Direct Private Money Lenders are the ones to turn to when a pending foreclosure or other situation requires speedy delivery of the funds. Even in cases where a bank may be willing to grant the loan, the length of time to have it approved would not be acceptable. The short term loan companies clarify all the repayment terms and explain what would happen if repayment were late or lacking. A borrower will have the security of this complete disclosure.
There are reasons other than investment or development that a loan may be needed. They include a threat of foreclosure, a tax lien, a legal judgment or a failing business that needs an influx of cash. The direct lender in Georgia is able to lend the required funds that banks may refuse to approve. Their familiarity with finance makes it possible for them to do it quickly.
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.
If time is of the essence, the private lender can provide a yes or no answer to the applicant very quickly. He is familiar with the real estate market, which enables him to make the quick decision. There are traditionally no application fees. A closing on can be scheduled in a short time and it is structured to suit 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 of this type can be negotiated with realtors, real estate brokers, real estate investors and attorneys. Actually, they will negotiate with anyone needing fast funding to purchase real estate property. Any developer can repay on a schedule tailored to fit his needs. A borrower can get through the procedure more quickly than if he were dealing with another type of lender.
Atlanta Direct Private Money Lenders are the ones to turn to when a pending foreclosure or other situation requires speedy delivery of the funds. Even in cases where a bank may be willing to grant the loan, the length of time to have it approved would not be acceptable. The short term loan companies clarify all the repayment terms and explain what would happen if repayment were late or lacking. A borrower will have the security of this complete disclosure.
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 Financing Brokers in GeorgiaHe suggests you check out the website iFund International
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