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.
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 direct loans that were approved in the Atlanta area include the purchase of a vacant building for two and a half million dollars, a retail building already occupied for $450,000 and a refinance of a medical building for $325,000. One private lender disbursed more than thirty million dollars worth of loans in Georgia.
These lending organizations negotiate loans with brokers and realtors, attorneys, real estate investors and anyone else wanting funding to purchase or rehabilitate a property. The complex needs of borrowers are understood and the borrower can have a repayment plan tailored to suit his specific needs. All of this can be done quickly.
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.
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 direct loans that were approved in the Atlanta area include the purchase of a vacant building for two and a half million dollars, a retail building already occupied for $450,000 and a refinance of a medical building for $325,000. One private lender disbursed more than thirty million dollars worth of loans in Georgia.
These lending organizations negotiate loans with brokers and realtors, attorneys, real estate investors and anyone else wanting funding to purchase or rehabilitate a property. The complex needs of borrowers are understood and the borrower can have a repayment plan tailored to suit his specific needs. All of this can be done quickly.
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 Private Lenders For Real Estate Home Loans, GeorgiaHe suggests you check out the website iFund International
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