Who are the Best Hard Money Lenders in Atlanta?
Finding the Atlanta best hard money lenders is critical to your investing success. Whether you’re new to real estate or have been doing it for years, your hard money loan can eat up a ton of profit if it isn’t favorable. A bad loan can set you back thousands of dollars. On the other side, a good hard money loan can provide the financing you need in less time than any other source of financing. Atlanta hard money lenders can give you the buying power required to scale your business and profit.
Atlanta has a decent amount of private money lenders offering loans. Several of them appear reliable with numerous positive Google reviews and professional websites. There are however, several companies with poor reviews and outdated websites. Rates on hard money loans issued to Atlanta investors average a standard 9-14%. The median loan term is around 12 months. The mean hard money loan includes origination fees in the 1-3% range with standard LTV averages around 70%.
Here’s our short list of the top 7 Best Hard Money Lenders in Atlanta:
- Paces Funding
- Angel Oak Prime Bridge
- Baker Collins & Company LLC
- Fairview Lending
- Straightline Funding
- Southeast Private Lending
- Plymouth Funding LLC
The Top 7 Atlanta Best Hard Money Lenders
1. Paces Funding
Paces Funding is an Atlanta hard money lender. They offer loans to real estate investors in Nashville and Atlanta. They offer lending solutions for a variety of needs and situations including construction loans, investment property loans, commercial loans, and fix & flip hard money loans.
They offer terms up to 12 moonths, loan amounts from $20,000-$3,000,000 with a maximum LTV of around 65%. They have competitive rates starting at 10% .
2. Angel Oak Prime Bridge
Angel Oak Prime Bridge is an asset-based lender offering loans throughout Atlanta and most of Georgia. They provide hard money loans for fix-and-flip, short term bridge loans, construction loans, and investment property loans.
Their terms are competitive with loan amounts starting at $50,000, long term loans up to 360 months, and rates starting under 10%. They require a minimum FICO score of 560 to receive a loan. One of the drawbacks is that they mainly focus on single family residences and multi-family units.
#3. Baker Collins & Company, LLC
Baker Collins iss one of the highest rated companies on this list. They offer har money loans to Atlanta investors. Their loan programs include rehab loans, rentals loans and commercial loans. They’ve closed over 300 loans since 2015 so they have a solid track record.
They can close in as little as 7 days and require minimal documentation for most loans.
#4. Fairview Lending
Fairview Lending offers residential and commercial hard money loans in Atlanta and throughout Georgia.
They have a sterling A+ rating with the Better Business Bureau. They are direct lenders meaning they lend their own funds. This can make a big difference when it comes to flexibility and being able to loan to many different situations.
They have no upfront fees and can provide loans as long as 10 years. Definitely one lender to check out.
#5. Straightline Funding
Straightline Funding is another one of our Atlanta best hard money lenders. They offer the typical loan options for rehab and rental properties. They also offer transactional hard money loans, which are great for investors who need to double close (here’s looking at your wholesalers!).
Here’s a bit about their rehab loans:
- Loan Amounts: $100,000 to $1,000,000
- Eligible Properties: 1 to 4 Family
- Minimum Credit Score: 680
- Loan Term: 9 to 24 months
- LTV: Up of 70%
- Advances up to 90% of purchase/100% Rehab
- Rates start at 7.50% – Interest Only
#6. Southeast Private Lending
Southeast Private Lending offers hard money loans to investors in Atlanta. They’ve been in the industry for over 30 years. Their origination fees are some of the highest we’ve seen, but they come out of the loan proceeds so you aren’t paying them out of pocket.
Here’s a bit about their rehab program:
- Immediate Hard Money Loans From 50K – $100 Million
- Up to 65% LTV
- 13-16% Interest
- 5-10 Points in Fees
- Any Credit O.K.
- FULL DOC, LIGHT DOC & NO DOC Loans
- Answers within 24-48 hours
- FAST CLOSINGS – within 5 days!
#7. Plymouth Funding LLC
Plymouth Funding LLC has a solid ranking online. Their customers rave about. the incredible customers service. They have a full arsenal of loan programs available including rehab, new construction, rental property, and commercial hard money loans.
They have rates from 10% with terms up to 12 months. Their origination fees are pretty standard at 2-3%. They offer loans on Non-owner occupied Condos, Townhomes, apartments, and single family homes to borrowerss with credit scores of 650+.
Atlanta Best Hard Money Lenders FAQ
Who is the best hard money lender in Atlanta?
Here’s our short list of the top 7 Best Hard Money Lenders in Atlanta:
- Paces Funding
- Angel Oak Prime Bridge
- Baker Collins & Company LLC
- Fairview Lending
- Straightline Funding
- Southeast Private Lending
- Plymouth Funding LLC
What do Atlanta hard money lenders charge?
Hard money loan rates in Atlanta range from 9 percent to 15 percent for shorter and mid range terms. Most hard money lenders also charge points or origination fees on a loan ranging from 1-3%.
Do Hard Money Lenders in Atlanta require appraisals?
Many hard money lenders in Atlanta will require an appraisal. However, there are several lenders on this list who offer no-doc loans, in which case, it may not be required.
What is hard money in Atlanta?
Hard money loans in Atlanta are short term loans secured by real estate. These loans are used to purchase and/or rehab residential or commercial properties. They’re more expensive than traditional bank loans but can be closed faster and with less credit requirements.
