Avatar's Blog
» Qualifying Properties for a hard money loan
Avatar Financial Group specializes in funding hard money bridge loans for income producing properties in the US. We do not fund land or construction. If you have improved land - platted, permitted, etc. - and want to build homes or other strcutures on it, you need to locate a construction lender. However, if you have a construction project underway, if it is already at least 80%+ complete, Avatar may be able to assist you with a loan to pay off the construction lender and complete the project.
If your property has very little building structure compared to land, Avatar may not be the right lender for you, unless that property is income producing, such as parking lots, golf courses, ski resorts, mobile home parks, RV parks, etc. While the strcuture to land ration is very low on those properties, they are income producing and can support the loan. A hard money loan will often make good sense for the owner of such properties.
A good rule of thumb to know is that Avatar makes loans that make sense for the borrower as well as for the lender. We charge reasonable rates such that all parties can reasonably benefit from the transaction. If your property can support the monthly payments and you have a reasonable exit strategy for the loan, make a loan request on this website by selecting the loan link on the home page.
