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A Private Capital Investor Such As Mager Capital Is A Source For Fast Capital.
There is no doubt that today's market is a completely different animal than just a few years ago. With the manipulated collapse of the real estate market, alternative lending sources continue to surface. As a hard money lender , Mager Capital has positioned itself in the top ten and is steadily increasing their position. Most of their money is provided by wealthy private investors that understand private lending and enjoy a consistent high rate of return.
With conventional, residential real estate lending guidelines so stringent, residential hard money loans are quickly becoming a primary product. Many banks are following suit and starting a private debt 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 regulations were supposedly enacted to protect borrowers from predatory funding, but in fact have only harmed them. When a borrower who has lost his job wants to pull money out of his/her primary residence it is nearly impossible due to stringent debt to income rules. These very laws that were supposedly created to help are only pushing more and more borrowers to end up in a foreclosure situation or forcing 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 puts the borrower in a better position, regardless of the rate/term the loan is legal. If a loan provides the needed money 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 notes coming due within the next two years, commercial hard money loans are in high demand. Hard money bridge loans as they are called, have definitely become a serious staple in today's commercial market. Unfortunately, many hard money lenders do not have the available cash to fund above $3,000,000 so the larger loan market has little competition. Mager Capital has the capacity to fund into the $100's of millions so they are rapidly becoming the number one, 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 definitely ensure you get the best terms available in today's market.
A Private Capital Investor Such As Mager Capital Is A Source For Fast 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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