Why Prodigy Commercial Lending Is Capable
We are an equity-based lender. We lend hard money for both industrial and residential investment loans. We work with real property agents, brokers, and borrowers throughout the United States.
As direct lenders, we can make quick choices on loans, in contrast to others who may require weeks to make a decision. Anyone can do these handy loans; we prefer to make the decisions on greater tricky loans regardless of how elaborate they are. If you have a lot of equity, we can find a way to make the loan. We love assisting clients that the banks have turned down.
Our charges will range relying on the specific type of property (apartments, retail, land, warehouses, distinctive purpose, residential, commercial, and workplace buildings). Factors will additionally encompass the term of the loan, the hazard assessment, and the monetary condition of the individual who is borrowing the money. Hard money lenders, on the other hand, can also give six to eighteen-month loans and we prefer to do longer loans that we can fund within 7 to 10 days after the appraisal obtained and then reviewed.
We base our loans on the equity of the property. We evaluate the income however; it is not a serious factor. We base totally on assets and we want you to know that you can do this. We will work carefully with you involving your payments. We like loans that range from $80,000 to as high as $5,000,000. We love our brokers and we pay out several thousand every month for referral fees alone to our brokers and our real estate agents.
At Prodigy Commercial Lending, we have been investing in both advertisements as well as residential real property in the state for over forty years. With so many years of hands-on experience in financing real estate, we feel assured that we can offer you a loan that will help you to go forward with your purchase or cash out.
Equity Financing May Be the Answer
Many debtors have problems with loan approval for financing in the market today. For this reason, we have fairness financing or hard cash loans. We base loans upon the fairness that is within your domestic or property instead of the credit-worthiness of the borrower. It does not affect the debt to income ratio for the borrower. These loans are quickly accepted and convenient to procure. We fund them quickly and it typically takes about 10 days for borrowers to receive them after the appraisal.
Hard money loans can also help to clear up the instantaneous problem, even if any bank already turned you 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 collateral for both business and residential investments. We base interest rates and lender’s costs on the hazard assessment for every personal loan. Lender fees, interest rates, and other fees will be dependent on the risk evaluation for every individual loan. If you want quick cash out, contact at Prodigy Commercial Lending today.We service the following zip codes and surrounding areas:
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