Why You Should Consider Prodigy Commercial Lending for Your Financing
We are an equity-based lender. This means that we offer equity financing or hard money loans. We help you get financing which is a major problem in the market today. These 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 you as the borrower. Nonetheless, these loans are quickly approved and easy to procure. They are quickly funded and it typically only takes about 10 days for them to be given after the appraisal.
We lend hard money for both commercial and residential investment loans. These loans use real estate equity as the collateral for both commercial and residential investments. We work with real estate agents, brokers, and borrowers across the United States.
Advantages of Prodigy Commercial Lending
We give you hard money loans to solve your immediate problem. This is regardless of whether you’ve already been turned down elsewhere. On the other hand, we can help you make short term loans that last from one to three years. Other hard money lenders may give six to eighteen-month loans. We prefer to do longer loans that we can fund within 7 to 10 days after the appraisal is received and then reviewed.
Additionally, we are direct lenders. Therefore we can make quick decisions on loans. This is unlike others who may require weeks to make a decision. At Prodigy Commercial Lending, we prefer to make the decisions on more complicated loans no matter how complicated they are. If you have a lot of equity, we can find a way to make the loan.
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 include the term of the loan, the risk assessment, and the financial condition of the person who is borrowing the money. 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. We love our brokers and real estate agents. Therefore, we will pay out several thousand every month for referral fees alone to them.
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.
If you need fast cash out, give us a call at Prodigy Commercial Lending today!
You can give a call at Prodigy Commercial Lending for fast cash out.We service the following zip codes and surrounding areas:
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