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A Private Capital Funder Like Mager Capital Will Be Ideal For Quick Capital.
There is no doubt that today's market is a completely different animal than just a few years ago. With the manipulated collapse of the real estate market, private lending sources continue to surface. As a hard money lender , Mager Capital has positioned itself in the top ten and is steadily increasing their position. Most of their cash is provided by wealthy foreign investors that understand private lending and enjoy a top high rate of return.
With conventional, residential real estate funding guidelines so stringent, residential hard money loans are quickly becoming a primary product. Many banks are following suit and creating a hard money product as well. Unfortunately, recent owner occupied funding guidelines have really created a problem for borrowers in sub prime financial health trying to get a loan. These regulations were supposedly started to protect borrowers from predatory funding, but in fact have only harmed them. When a borrower who has lost his job wants to take money out of his/her primary residence it is nearly impossible due to stringent debt to income rules. These very regulations that were supposedly created to help are only pushing more and more borrowers to end up in a foreclosure situation or forcing many lenders to write their loans in a manor that these regulations do not apply. These guidelines should have wording in them that states if a loan puts the borrower in a more attractive position, regardless of the rate/term the loan is legal. If a loan provides the needed capital to a borrower that allows him/her to get out of foreclosure and enough cash to be able to sell the property it is a good loan, regardless of the terms.
With 40% of all the commercial notes coming due in the next two years, commercial hard money loans are in high demand. Hard money bridge loans as they are called, have definitely become a serious staple in today's commercial platform. Unfortunately, many hard money lenders do not have the ability to fund above $3,000,000 so the larger loan platform has little competition. Mager Capital has the capacity to fund into the $100's of millions so they are rapidly becoming the number one, larger commercial lender.
There is something to say for a one stop shop. If Mager Capital can't provide a market rate they know the best source for your loan and will definitely ensure you get the most favorable terms available in today's market.
Commercial Mortgages Are Available Through The Banks, Commercial Mortgage Companies And Also Private Lenders
Hard money commercial mortgages are also available through private lenders who have more flexible lending criteria. Also known as hard money lenders, private commercial mortgage companies focus more the current value (today's selling price) of commercial property than on your personal financial package.
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