A Bridge Investor Like Mager Capital Can Be Ideal For Speedy Capital.
There is no doubt that today's market is a completely different animal than just a few years ago. With the manipulated demise 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 money is provided by rich private investors that understand private lending and enjoy a top high rate of return.
With bankable, 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 starting a private money product as well. Unfortunately, recent owner occupied loan guidelines have really created a problem for borrowers in sub prime financial health trying to get a loan. These regulatory guidelines were supposedly created to protect borrowers from predatory loans, but in fact have only hurt them. When a borrower who has no employment wants to pull money out of his/her primary residence it is nearly impossible due to stringent debt to income regulations. These very guidelines that were supposedly enacted to aid 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 guidelines should have wording in them that states if a loan places the borrower in a better position, regardless of the rate/term the loan is proper. 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 asset it is a good loan, regardless of the terms.
With 40% of all the commercial loans coming due within the next two years, commercial hard money loans are in high demand. Hard money bridge loans as they are called, have increasingly become a main product in today's commercial market. Unfortunately, many hard money lenders do not have the ability to fund above $3,000,000 so the high dollar loan market has less competition. Mager Capital has the ability 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 shop. If Mager Capital can't provide a market rate they know the best source for your loan and will always ensure you get the best terms available in today's market.
Non-Conforming Loans Are Loans Which Don't Fulfill Traditional Bank Lending Criteria.
Approximately 70 % of real estate loans are non-conforming loans either because of the financial status of the borrower or the nature of the property does not meet standards set by the bank.
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