Georgia Residential Hard Money Lending

COMMON SENSE UNDERWRITING!

We fund deals that make sense

Georgiaprivatemoney.com provides short term hard money loans to purchase and renovate investment properties in the Metro Atlanta area.

·         Up to 100% Financing Available

·         15% I/O

·         Points Starting at 7%

·         65% ARV

·         Fast Closings

·         48 – 72 Hour Underwriting Response Time

·         6 to 36 Months Term

·         35K Minimum Loan Amount

·         Fast Closing

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Hard Money in Additional states

RESIDENTIAL REHAB LOANS IN ADDITIONAL STATES!
AZ, PA, NJ, MD, DC, VA, NC, SC, AL, TX, MO, KS, MN

• 680 middle credit score or better

• DTI under 45%

• 65% LTV

• 100% of the cost can be rolled into the loan as long as it does not exceed 65% of the after repair value (ARV)

• 6 points

• 12 to 15% I/O

• 6 months (extensions are available)

• Minimum loan amount 75K

• 10 to 15 days to closing

• Must escrow 6 month of payments
 

Georgiaprivatemoney.com

 
Here's a helpful rehab formula:

• Establish an after repair value for your property. (Get "area comps" and view each one. Pick out the property that has a street that is most similar to your house's street, and a structure that is closest to your house's structure, and then compare the square footage, amount of bedrooms and bathrooms that are all listed on the "comps." This will help establish a real fair market value for your property).

 
• Multiply the ARV x .65 this will give you the total loan amount

• Establish a comprehensive and accurate list of repairs that you plan to do to the property, and estimate the costs for each repair. (This is important. If you are knowledgeable and experienced in doing repair work, you may not need help. If you are not experienced or skilled in this, find someone who is and have them draw up a plan. Even if it costs you a little money to get them out there, this could save you thousands of dollars).

 
• Subtract the cost of repairs from the loan amount.

• This should be the maximum price that you pay for the property! This is a conservative formula, and it usually works well. Remember, anyone can buy a property at close to fair market value, but with your costs and risks, you must do better!

***Please note that other closing costs such as, taxes, insurance, title fees, broker fees etc. are separate from your hard money fees.