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A Private Capital Lender Like Mager Capital Will Be The Answer For Quick Capital.
There is no doubt that today's market is a completely changed animal than just two years ago. With the manipulated fall of the real estate market, alternative lending sources continue to come about. As a hard money lender , Mager Capital has positioned itself in the top ten and is steadily increasing their position. Most of their capital is provided by rich private investors that understand private money and enjoy a consistent high rate of return.
With institutional, residential real estate loan guidelines so stringent, residential hard money loans are quickly becoming a top product. Many banks are following suit and structuring a private money product as well. Unfortunately, recent owner occupied loan guidelines have really created a problem for borrowers in poor financial health trying to obtain a loan. These regulations were supposedly created to save borrowers from predatory funding, but in fact have only hurt them. When a borrower who has no employment wants to pull money out of his/her primary home it is nearly impossible due to strict debt to income guidelines. These very guidelines that were supposedly started to help are only forcing more and more borrowers to end up in a foreclosure situation or making many lenders to write their loans in a way that these regulations do not apply. These laws should have verbiage in them that states if a loan puts the borrower in a better situation, regardless of the rate/term the loan is legal. If a loan provides the necessary cash to a borrower that allows him/her to get out of foreclosure and enough money to be able to sell the property it is a beneficial loan, regardless of the rate/term.
With 40% of all the commercial notes coming due within the next two years, commercial hard money loans are in high demand. Private real estate bridge loans as they are called, have definitely become a main product in today's commercial market. Unfortunately, many hard money funders do not have the available cash to fund above $3,000,000 so the larger loan market has meager competition. Mager Capital has the capacity to fund into the $100's of millions so they are quickly becoming the top positioned, larger commercial loan source.
There is something to say for a one stop financial house. If Mager Capital can't provide a competitive rate they know the best source for your loan and will definitely ensure you get the best terms available in today's market.
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