Avatar's Blog
» Differences in Ideals
The difference between securing a loan from a bank and from a private hard money lender such as Avatar Financial is very interesting. If you've ever applied for a loan at a bank (and who hasn’t), you will recall the hours of debate over whether your personal and financial situations fit neatly into a bank’s criteria. You may have a wonderful job, be enjoying a steady income, and be saving a steady amount of money every month; however, if a bank cannot pigeon-hole you as the perfect applicant with a long and perfect history, your chances of securing a good loan are minimal.
In the field of hard money loans, Avatar will not attempt to box you in with unrealistic ideals. A loan must be sensible from the perspective of both borrower and lender. The equity and value of a property, along with the borrower/guarantor’s ability to afford the loan payments now are what we base our loans on, and we take a lot of variables into account, many of which benefit potential borrowers, and many of which banks do not consider.
In additional Avatar news, we are currently working on becoming more regular with our blog posts and article updates. We’re also considering how we can make certain parts of our website more accessible and aesthetically pleasing, so watch out for some subtle changes over the next few weeks. We’re especially excited about revamping our Nationwide Lending page, and expanding our financial terms glossary. So keep stopping by, because with the weather (at least in Seattle) going bad, what else is there to do but stay indoors and roam the web?
