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 open. As a hard money lender , Mager Capital has positioned itself in the top ten and is growing their position. Most of their cash is provided by rich private investors that understand private money and enjoy a serious high rate of return.
With institutional, residential real estate loan guidelines so stringent, residential hard money loans are quickly becoming a mainstream product. Many conventional lending institutions are following suit and creating 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 loans, but in fact have only harmed them. When a borrower who has no employment wants to pull money out of his/her primary residence it is nearly impossible due to strict debt to income guidelines. These very guidelines that were supposedly enacted to aid are only pushing 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 proper. If a loan provides the needed cash to a borrower that allows him/her to get out of foreclosure and enough money to be able to sell the asset it is a good 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 increasingly become a serious product in today's commercial market. Unfortunately, many hard money lenders do not have the capacity to fund above $3,000,000 so the larger loan market has less competition. Mager Capital has the ability to fund into the $100's of millions so they are rapidly becoming the top positioned, larger commercial loan source.
There is something to say for a one stop shop. 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.
A Bridge Funder Like Mager Capital Will Be Ideal For Quick Capital.
When lightening fast time and below bank red tape is a requirement, hard money funders such as Mager Capital are the answer. Institutional lenders tend to take such a long time to make a decision in this sad capital market that hard money lenders are taking their place.
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