Atlanta hard money lenders

Posted by & filed under Private Lending.

One in three people gets denied financing through traditional funding. Whether it’s credit history or debt versus income, banks are shady with financing. 

That can leave you frustrated you’re trying to earn a pretty penny on a nice investment. But there’s a solution to your short-term economic trial, and hard money lenders in Atlanta can help. 

Hard money lenders not only assist when you need some extra cash, but they’re also a great fit for investors as well. 

If you’re a property owner in need of a financial fix, consider Atlanta hard money lenders. Find out what they do and how they can help you with your financial needs!

Atlanta Hard Money Lenders

A hard money lender in Atlanta offers short-term loans backed by real estate. The loans are privately funded, which eases the worry of denial.

Private investors or investor funds lend money to property owners needing a bank loan alternative. The term of these loans doesn’t drag out 15 to 30 years as with conventional loans.

Hard money lenders keep the loan terms short-12 months, sometimes extending out five years. But that depends on certain conditions of the loan. In most cases, expect your loan to come due at about the 24-month mark. 

Hard Money Is Available for What Property Types?

Hard money lenders allow borrowers to secure loans through equity, foregoing creditworthiness. So a borrower can get a loan on a property they own. 

Single and multi-family residences, bare land, commercial, and industrial properties qualify. But not all lenders accept them everywhere.

Some lenders in Atlanta may specialize in one property type, focusing on specific types of loans. That doesn’t mean you’re property isn’t viable. The lender simply doesn’t lend funds in that area.  

Ask upfront before you put yourself through the process. 

Keep in mind that if you occupy the property you’re seeking a loan on, most lenders will shy away from assisting you. Stick with lenders who have loans structured to suit your needs

What Kind of Deals Can You Get with Hard Money?

All deals aren’t considered appropriate, especially for hard money loans. If you have excellent credit and need a larger loan with a longer payoff term, go to a bank.

Hard money lending is rescue financing when traditional bank loans are no longer an option. It’s fast money with quicker payoff timeframes.

Hard money lenders issues loans that are ideal for: 

  • Construction Loans
  • Fix and Flips Loans 
  • Purchase Loans
  • Line of Credit Loans
  • Rental House Loans

The incentive behind these loans is a buyer’s low, slow, or credit concerns won’t disqualify them. Also, investors can move expeditiously on properties when need be. 

Get a Hard Money Loan

Buyers choose hard money loans for different reasons. Fast funding is the most important. This is why you should seek out Atlanta hard money lenders. 

They’re equipped to expedite the application process, funding some loans within a week. You won’t get this benefit from a credit union or a bank.

Contact Hard Money Georgia for fast funding loans structured to fit your loan needs.