HardMoneyLoansAtlanta.com
5775 Glenridge Drive Building B, Suite 550
Atlanta, GA 30328
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About HardMoneyLoansAtlanta.com
HardMoneyLoansAtlanta.com is hard money lender based in Atlanta, GA. They provide funding in Atlanta. They offer bridge loans, construction loans, and fix-and-flip loans. Their loan parameters are versatile, including loan amounts starting from $30,000 with a maximum LTV of 65%, rates starting at 11.99% , and terms between 6 months and 1 year. The focus of their loans is on single family units.
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Loan Types Offered: Fix and Flip Loans, New Construction Loans, Bridge Loans
Property Types Covered: Single Family
Areas Served: Atlanta
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Lending Guidelines for HardMoneyLoansAtlanta.com
Below are the general loan guidelines published on the HardMoneyLoansAtlanta.com website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: $30,000 and up
Available Rates: 11.99% and up
Typical Terms: 6 months - 12 months
Points Charged: 4%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: N/ANew Construction Loans
Loan Amounts: $30,000 and up
Available Rates: 11.99% and up
Typical Terms: 6 months - 12 months
Points Charged: 4%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: N/ABridge Loans
Loan Amounts: $30,000 and up
Available Rates: 11.99% and up
Typical Terms: 6 months - 12 months
Points Charged: 4%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by HardMoneyLoansAtlanta.com.
Loan Example 1
Marsha is a house flipper in Atlanta, GA. She discovers a run-down property for sale and decides to remodel it and flip it for a profit. The house has a cost of $400,000 but she does not have the full amount so she takes out a hard money loan with HardMoneyLoansAtlanta.com. Since the lender agrees to a 80% loan to value, Marsha will be required to put 20% down and the amount of the note will be $320,000. The loan also consists of the following features: 1) a 12 month length, 2) a 12% interest-only note, and 3) a two percent origination fee.
On top of the $6,400 origination fee, Marsha will also have to fund $80,000 of the purchase with her own money, or 20% of the purchase price. she must then pay $3,200 per month to HardMoneyLoansAtlanta.com. If Marsha accomplishes her goal of a $540,000 sales price when the loan term expires, she would earn a total profit of $95,200 after repaying the principle amount and deducting the cash she brought to closing, the origination points, and the total monthly interest payments.
Loan Example 2
Jamie finds a house in Atlanta, GA to remodel and resell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from HardMoneyLoansAtlanta.com with the following parameters:
$310,000 sales price
50% loan to value (LTV)
6 month term
11% interest rate
4% origination feeAfter the renovation project is completed, if Jamie sells the property for $449,500, the numbers would be the following:
$449,500 sales price
- $155,000 loan principle (50% LTV)
- $155,000 cash paid at closing (50% on 50% LTV)
- $6,200 origination fee (4% of the $155,000 principle amount)
- $8,525 interest payments (6 months x 11% interest)
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= $124,775 total profit (doesn't include taxes or rehab costs) -
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