Are you into flipping homes? Or do you need some quick money for another real estate program?
If so, don’t run to a financial institution looking for help. Chances are, by the time your loan is approved the property will be gone.
Instead, consider getting a hard money loan. If you’re located in Georgia, look for hard money lenders Atlanta.
Hard money loans provide funds that are quick and convenient, perfect for helping you get that perfect property.
You may be wondering how to choose a hard money lender. If so, you’re right to do so! You shouldn’t go with just anyone. Keep reading to learn several things you should look for when choosing a hard money lender.
Focus on Hard Money
Hard money loans are not the same as traditional loans. Therefore, they have different requirements. When looking for a loan provider, choose one who focused on hard money.
Why? Becuase you want to know that they know the ins and outs of hard money loans. Choosing someone who’s great at other types of loans won’t help you.
Choose Local With Good Rates
It’s very likely a hard money lender will want to see the property you’re looking to purchase. To facilitate this, choose a lender who’s local.
Don’t just look at location, though. You still want to get a good deal, so make sure the lender offers competitive rates. Hard money loans have higher rates than other loans, so you want to get the best that you can.
Look for Transparency and Open Communication
When choosing a hard money lender, look for someone who communicates well and is totally transparent. When dealing with money and loan terms you should know exactly what’s going on.
Choose someone who responds quickly. Otherwise, you may lose out on that perfect property because you didn’t get funding in time.
Watch out for fake advertisements of really low rates, and make sure you always have access to the loan data during origination.
Ensure They’re Licensed
Before entering into an agreement with a lender, do some research on them. Make sure they are licensed by their state Department of Real Estate. They must have a valid Real Estate Broker License.
Registration with organizations like the Nationwide Mortgage Licensing System and Registry is a green flag too.
Make Sure they Have a Positive Image
Don’t just research a lender’s licensing. You should also check into their online presence. Do they appear professional and good overall?
Are they portraited the same across different sites, such as their company website and LinkedIn?
Look to see if there have been any complaints and look for positive reviews. You want someone you can trust, as well as someone who’s been around the block before.
Choose Hard Money Lenders Atlanta Today
No matter your reasons for pursuing a hard money loan, you should keep each of these points in mind. When working with money, you don’t want to go with just anyone. Make sure you chose someone who really knows what they’re doing.
Besides specializing in the type of loan you’re looking for, make sure you choose reputable hard money lenders Atlanta. Look for someone trustworthy who will give you only the best.
Are you looking for a hard money loan in Georgia? If so, we’d love to help fund your next adventure. Head to our website to get started!