Prodigy is an equity-based lender that lends hard money for both commercial and residential investment loans, working with brokers, real estate agents, and borrowers all over the United States.
We make fast decisions on loans, unlike other lenders who need time to make a decision. Since easy loans are applicable to anyone, Prodigy Commercial prefers to make decisions on more complex loans regardless of how complex they are. However much the equity is, we find a way to create the loan for you. Helping customers that banks have turned down is our joy.
Our rates change according to the type of property (apartments, retail, land, warehouses, special purpose, residential, commercial, and office buildings). The term of the loan will include features, the risk assessment, and the financial status of the applicant. Hard money lenders, on the other hand, would give six to eighteen-month loans. We ought to work with longer loans that can be funded within 7 to 10 days after the appraisal is received and then viewed.
Our loans are based on the equity of the property. However, we review the income despite it not being a serious factor. Assets are a priority and we encourage you to know that you can do this.
We will work side by side in concern with your payments. Our preferable loans vary from $80,000 to as high as $5,000,000. We love our brokers and will pay out multiple thousands every month for referral fees alone to our brokers and our real estate agents.
Prodigy Commercial Lending has been investing in both commercials as well as residential real estate in the United States for more than 40 years. With the experience gained over the years in financing real estate, we are positive we can provide you with a loan that will help you move forward with our purchase or cash out.
Equity Financing May Be The Answer
Borrowers in the market today have a lot of challenges getting approval for financing. Because of this, we have equity financing or hard money loans. They are based upon the equity that is within your home or property in place of your creditworthiness. It has no effect on the debt to income ratio for the borrower. These loans are approved fast and are also easy to procure. It normally takes about 10 days for them to be given after the appraisal and quickly funded.
When there are current challenges, hard money loans may be the solution, regardless of having been turned down elsewhere. Prodigy Commercial Lending can assist you to make short term loans that last from one to three years. These loans normally use real estate equity as collateral for both commercial and residential investments. Interest rates and lenders fees will all be dependent on the risk evaluation for each individual loan.
For cash-out assistance, contact us at Prodigy Commercial Lending today!We service the following zip codes and surrounding areas:
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