We’re an equity-based lender. A lot of borrowers have problems getting approved for financing in the market today. For this reason, we have what is referred to as equity financing or hard money loans. We lend hard money for both commercial and residential investment loans. We work with real estate agents, brokers, and borrowers across the United States. We love our brokers and will pay out several thousand monthly for referral fees alone to our brokers and our real estate agents.
We are the Answer to Your Financing
Prodigy Commercial Lending is the solution to your financing. As direct lenders, we can make quick decisions on loans. This is unlike others who may require weeks to make a decision. On the other hand, we make decisions on complicated loans since anyone can do these easy loans. If you have a lot of equity, we can find a way to make the loan.
Hard money loans may help to solve the immediate problem. This is because they are quickly funded and it typically only takes about 10 days for them to be given after appraisal. Therefore they are quickly approved and easy to procure. Nonetheless, the loans are based upon the equity that is within your home or property in place of the credit-worthiness of the borrower. It doesn’t affect the debt to income ratio for the borrower.
We can help you to make short term loans that will last from one to three years. Other hard money lenders may give six to eighteen-month loans. We at Prodigy Commercial Lending prefer to do longer loans that we can fund within 7 to 10 days after the appraisal is received and then reviewed.
Our Interest Rates
Our rates will vary depending on the particular type of property (apartments, retail, land, warehouses, special purpose, residential, commercial, and office buildings). Other factors will also include the term of the loan, the risk assessment, and the financial condition of the person who is borrowing the money.
These loans use real estate equity as the collateral for both commercial and residential investments. The interest rates and lenders fees will all be dependent on the risk evaluation for each loan. Lender fees, interest rates, and other fees will be fully dependent on the risk evaluation for each loan.
We base our loans on the equity of the property. We’ll review the income however; it’s not a serious factor. We’re based on assets and we want you to know that you can do this. We’ll work closely with you regarding your payments. We like loans that range from $80,000 to as high as $5,000,000.
At Prodigy Commercial Lending, we’ve been investing in both commercials as well as residential real estate in the state of for well over 40 years. With so many years of hands-on experience in financing real estate, we’re confident that we can offer you a loan that will help you to move forward with your purchase or cash out.
We love helping customers that the banks have turned down. If you need 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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