Getting a loan from a bank to purchase a property is difficult. Borrowers are mostly disappointed at the speed at which their loan application are processed and this makes them to look the way of Atlanta commercial private lending. Moreover, financial institutions are always reluctant to offer you money to take your business at a higher level. It is because most financial institutions need to prepare a lot of papers before lending you money.
When dealing with lenders, you get hold of that property you intend to buy faster than when you try to get a loan from a bank. It is because the money from private money lenders is readily available. It enables you to tap a good deal when it comes your way. This may not be the case if you were among those applying for a loan in the bank.
Private loans have substantially less documentation. It because they do not rely on the income or credit of the borrower. Instead, they hedge their bets on the hard assets that you have most of them being real estate properties. They offer an alternative financing with better terms.
For you to qualify for a loan from a lender, the only thing you need to have are assets that will back you up. Individual money lenders do not check your personal finances or income verification. The major thing that they mostly concentrate on are the assets. Therefore, you will not meet any difficulties while you are trying to borrow money.
When your business is thriving and is earning you a lot of revenue, the last thing you want to incur are penalties that come up due to a loan. Banks usually penalize money borrowers heavily unlike private lenders. The latter pays more attention to your assets instead of your success. This is beneficial to you as the borrower because you are able to avoid the financial losses that comes with prepayment penalties.
Private money lending, through a lender leaves very little for you as an investor to worry about. The most challenging part of this is deciding on which loan applications to fund. Even if this is so, it is simple because expert underwriters will have thoroughly screened all the potential investments.
You capital will be best protected when you get a private lender to borrow money from. They will not fund you an amount that will exceed the value of the property. In most cases, they will not exceed seventy percent the value of your investment which will secure your capital well.
When dealing with lenders, you get hold of that property you intend to buy faster than when you try to get a loan from a bank. It is because the money from private money lenders is readily available. It enables you to tap a good deal when it comes your way. This may not be the case if you were among those applying for a loan in the bank.
Private loans have substantially less documentation. It because they do not rely on the income or credit of the borrower. Instead, they hedge their bets on the hard assets that you have most of them being real estate properties. They offer an alternative financing with better terms.
For you to qualify for a loan from a lender, the only thing you need to have are assets that will back you up. Individual money lenders do not check your personal finances or income verification. The major thing that they mostly concentrate on are the assets. Therefore, you will not meet any difficulties while you are trying to borrow money.
When your business is thriving and is earning you a lot of revenue, the last thing you want to incur are penalties that come up due to a loan. Banks usually penalize money borrowers heavily unlike private lenders. The latter pays more attention to your assets instead of your success. This is beneficial to you as the borrower because you are able to avoid the financial losses that comes with prepayment penalties.
Private money lending, through a lender leaves very little for you as an investor to worry about. The most challenging part of this is deciding on which loan applications to fund. Even if this is so, it is simple because expert underwriters will have thoroughly screened all the potential investments.
You capital will be best protected when you get a private lender to borrow money from. They will not fund you an amount that will exceed the value of the property. In most cases, they will not exceed seventy percent the value of your investment which will secure your capital well.
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 Commercial Lending Products he suggests you visit his friend's to learn more.
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