Hard money (private money) lenders are commercial real estate lending companies offering a specialized type of real-estate backed loan. Hard money lenders provide short-term loans (also called a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan.
Hard money lenders typically have higher interest rates than banks (between 11 and 16%) (65% LTV) because they fund deals that do not conform to bank standards. Please note that we are currently accepting Georgia hard money loan requests at this time.
Hard money lenders typically have higher interest rates than banks (between 11 and 16%) (65% LTV) because they fund deals that do not conform to bank standards. Please note that we are currently accepting Georgia hard money loan requests at this time.
Services
For over 30 years, the private lending group at Southeast Private Lending has been providing hard money loans to individuals who cannot quality for conventional bank loans. Based out of Atlanta, Georgia, Southeast Private Lending is at the forefront of the hard money lending industry in the Southeast U.S.
We know how you feel. You need a loan and need it now, but you keep being turned down because of a lack of documentation. With Hard Money lending, you don't have to provide documentation, because it is pure collateral based. You may have tried to secure a commercial loan through a bank or other financial institution, but have only come across roadblocks.
If the bank will not make a loan due to problems with the property or the borrower, the loan will fall into the "hard money" realm of lending. Hard Money is a High Cost, High Interest, Short Term Loan (3 years or less) and based on a Real Estate Asset such as a piece of land, residential investment home or commercial property.
Hard money loans are loans collateralized by equity in real estate. Generally used for business purposes, hard money loans are often used as bridge financing for real estate investments, business real estate asset purchases, refinancing and foreclosure help. In exchange for taking greater risks and funding so quickly, expect to pay substantially more than you would for a traditional mortgage.
Send any additional information helpful to the loan process such as property pictures, old appraisals, etc. Southeast Private Lending works diligently to provide extraordinary service to our brokers. We recognize that you are a very important part of our business and we value and appreciate your decision to work with us each and every time.
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