Who are the Best Hard Money Lenders in Augusta GA?
Finding the best hard money lenders Augusta 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. Augusta hard money lenders can give you the buying power required to scale your business and profit.
Augusta has a decent amount of private money lenders offering loans. Several of them appear reliable with numerous positive Google reviews and professional websites. Rates on hard money loans issued to Augusta investors average a standard 13-15%. The median loan term is around 12 months. The mean hard money loan includes origination fees in the 3-5% range with standard LTV averages around 70%.
Here’s our short list of the top 5 Best Hard Money Lenders in Augusta:
- Paces Funding
- Angel Oak Prime Bridge
- Baker Collins & Company LLC
- Fairview Lending
- Bridgewell Capital
The Top 5 Best Hard Money Lenders in Augusta
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 Augusta 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 is one of the highest rated companies on this list. They offer hard money loans to investors across the country. 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 Augusta 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. Bridgewell Capital
Bridgewell Capital is a hard money lender based in Orlando. They offer rehab loans for flips and for rental properties. They also do multifamily loans and commercial loans.
Here are some of their fix and flip loan terms:
- Up to 100% of rehab costs
- Up to 75% ARV
- Closings in 10 days
- Damaged Credit Okay
- No interest on undrawn rehab funds
- No pre-payment penalty
Best Hard Money Lenders Augusta FAQ
Who is the best hard money lender in Augusta?
Here’s our short list of the top 5 Best Hard Money Lenders in Augusta:
- Paces Funding
- Angel Oak Prime Bridge
- Baker Collins & Company LLC
- Fairview Lending
- Bridgewell Capital
What do Augusta hard money lenders charge?
Hard money loan rates in Augusta range from 11 percent to 13 percent for shorter and mid range terms. Most hard money lenders also charge points or origination fees on a loan ranging from 3-5%.
Do Hard Money Lenders in Augusta require appraisals?
Many hard money lenders in Augusta 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 Augusta?
Hard money loans in Augusta 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.
