Know More About Prodigy Commercial Lending
Our company is an equity-based lender. Our work is to lend hard money to both commercial and residential investment loans. We have cooperated with real estate agents, brokers, and borrowers all over the United States.
Deciding on loans may take a while but for us, it is a bit different. On our side, we make quick and well-informed decisions on the loan in particular. The best part to top it up is the fact that no matter how the loan is complicated, we can help you tackle it well to your satisfaction. If you have a lot of equity, we can find a way to make the loan. We appreciate helping customers that banks have turned down.
Our rates vary depending on the particular type of property from the apartment, retail, land, warehouses, special purpose, residential, commercial to office buildings. Some of the factors we consider are the term of the loan, the risk assessment, and the financial condition of the person borrowing the money. Hard money lenders may give six to eighteen-month loans but we prefer to do longer loans that we fund within 7 to 10 days after the appraisal is received and the reviewed.
We based our loans on the equity of the property. First, we review the income if it is not a serious factor. Our company is based on assets and want you to know that you can do this. We will work closely with you regarding your payments. We prefer loans that range from $80,000 to as high as $5,000,000. We love our brokers and will pay out several thousand monthly for referral fees alone to our brokers and our real estate agents.
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.
Equity Financing May Be the Answer
In the current business market, a lot of borrowers have a problem, getting approved for financing. For this reason, we have equity financing or also called hard money loans. These are loans that are based upon the equity that is within your home or property in place of the credit-worthiness for the borrower. It doesn’t affect the debt to income ratio for the borrower. These loans are quickly funded and it typically and easy to procure. They are quickly funded and they typically only take about 10 days for them to be given after the appraisal.
Hard money loans may help to solve the immediate problem, even if you’ve already been turned down elsewhere. We can help you to make short term loans that will last from one to three years. These loans use real estate equity as the collateral for both commercial or 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 risk evaluation for each loan. If you need fast cash out, contact Prodigy Commercial Lending today!We service the following zip codes and surrounding areas:
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