Loans have become part and parcel of our lives. We often take out loans to top up our finances for the many needs we have. Whether it is to make a new investment or buy that dream home we have been eyeing. Unfortunately, most lending institutions have many and strict requirements from credit scores, loan to value ratio or even our earnings making it almost impossible to qualify or acquire a loan. Prodigy Commercial Lending has answered the plea of many residents in the states by opening a platform where borrowers can take out loans based on their equity.
Prodigy Commercial Lending is an equity-based lender based all over the United States of America. We lend hard money for both commercial and residential investment loans. To reach our borrowers across every state and town we work hand in hand with several real estate agents and brokers. We have been in this line of service in the States for more than 40 years. With so many years of service, we have gained a lot of experience and knowledge on this kind of loan. Our hands-on experience makes us confident that we can offer our esteemed customers a loan that will guarantee them success in their purchases or cash out.
Equity may be defined as the amount of money you would receive after paying off the mortgage if you were to sell a home. Getting approval for financing in the market today has become a very tedious affair for many borrowers. It is for this particular reason that we have established equity financing or hard money loans. This type of loans is based upon the equity that is within your home coupled with borrower’s creditworthiness. The loans do not by any means affect the debt to income ratio of the borrower. There are numerous advantages of these loans. To start with, the loans can be easily procured and the speed with which they are approved is commendable. They are also quickly funded and under normal circumstances take about 10 days for them to be given after their appraisal. In addition, these loans can help one to solve pressing problems or emergencies if they are turned down by other lenders.
Prodigal Commercial Lending Terms
Compared to other lenders or some type of loans we are lenient in issuing our loans. One, we offer assistance and help you make short term loans that last from one to three years. The loans usually use real estate equity as the collateral for both commercial and residential investments. Interest rates and lenders fee charged all depends on the risk evaluation of individual loans.
If you find yourself in need of fast cash out, give us a call at Prodigy Commercial Lending today!We service the following zip codes and surrounding areas:
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