The Best Hard Money Lenders In Atlanta Include Baker Collins & Co., Fairview Commerical Lending, and Atlanta Private Money
Atlanta is one of the hottest residential real estate markets in the U.S. According to the Atlanta Realtors Association, in the last year alone, average home prices increased by nearly 20%. This is likely partially a result of the booming population; according to the most recent census, Atlanta’s population has increased by 18% over the last 10 years.
According to Zillow, the average home price in Atlanta is more than $400,000, slightly above the national average of $378,000. However, there are still quite a few deals to be had, particularly if you’re looking in emerging Atlanta neighborhoods or Atlanta’s many suburbs.
If you’re looking to invest in Atlanta, a hard money loan could be the best option, particularly if you’re a newer investor and investor or someone looking to flip properties. To help guide you on your way to success, we’ve compiled a list of the top ten hard money lenders in Atlanta, GA. Searching for the right lender can be tough, so we’ve included facts like their major loan programs, LTV ratios, eligible property types, and other essential information to help you make a more informed choice.
1. Baker Collins & Co. LLC
Atlanta and Texas-based hard money lender Baker Collins & Co. offers a variety of hard money loan programs, including rental loans, multifamily loans, new construction loans, and rehab loans. Their popular rental loan program offers loans between $100,000 and $2.5 million, with LTVs up to 80% for purchases and up to 75% for refinances.
Their rehab loan program offers terms including:
LTC: Up to 90%
LTV: Up to 75%
Loan Term: 6 to 12 months
Amortization: Interest only
Closing time: 10-14 days
Baker Collins & Co. is currently led by Manging Partner Kenneth Igwe.
2. Fairview Commercial Lending - Hard Money Lenders Atlanta
Fairview Lending has two locations, one in Atlanta, Georgia, and the other in Denver, Colorado. Fairview offers both commercial and residential lending. The company boasts a variety of benefits for clients, including the fact that they do not require appraisals or have upfront fees. However, they do offer significantly lower leverage than most other lenders in the area.
Terms for their residential hard money loan program include:
Loan Size: Up to $2 million (minimum $150,000, in Georgia; Colorado can go lower depending on the transaction)
LTV: Up to 50- 60% off the current value or purchase price
Interest Rates: vary depending on transaction
Loan Term: Flexible amortizations and interest only up to 10 years
Appraisals: Not required, underwriting done in-house
Timeline: Loans close in 5-10 days
Cash-Out: Unlimited
Fairview Commercial Lending is currently led by Executive Director Scott Ramsdale.
3. Atlanta Private Lending - Atlanta Hard Money
Atlanta Private Lending is located in Cumming, Georgia, and offers loan programs including traditional hard money loans, fix and flip loans, bridge loans, and rental property loans.
Terms for their hard money loan program include:
Loan Size: $20,000 to $5 million
LTV: Up to 65%
Interest Rates: 10%-14%
Appraisals: Required
Origination Fees: 2%
Credit Score: Not required.
Terms for their fix-and-flip loan terms include:
Loan Size: $25,000 minimum
LTV: Up to 70% ARV
Loan Term: 12 months
Interest Rates: 8.5% for experienced investors with documentation, 11%+ for no credit check loans
Appraisals: Required
Purposes: Purchase, finance, new construction
Credit Score: 650 required for lower interest rates
Unlike some other hard money lenders, the company required bank statements and income documentation for its borrowers.
Atlanta Private Lending is currently led by owner James Melton.
4. Locklin Capital
Atlanta hard money lender Locklin Capital offers several loan programs, including fix and flip bridge loans, new construction loans, long-term purchase loans, cash-out refinances, and transactional funding.
Their fix-and-flip bridge loan program terms include:
LTV: Up to 95% LTC, Up to 70% LTV
Loan Term: 12 months
Interest Rates: 7.5%
Appraisals:
BPO available major markets for loans under $500,000
Desktop appraisal available in GA, NC, SC, TN, FL, TX, OH, PA, CA, CO
Experience: Not required
Credit Score: 600 minimum
Construction loans offer similar terms, but require traditional appraisals and experience. Long-term purchase loans allow LTVs up to 80%, require credit scores of 620+, have non-recourse loan options, 30-year terms, are available for property portfolios, and permit cash-out refinancing options.
Locklin Capital is currently led by CEO Taylor Locklin.
5. Commercial Private Equity
Commercial Private Equity offers a wide scope of loan options, including hard money loans, raw land loans, construction loans, commercial real estate loans, bridge loans, asset-based loans, and specialized loans, particularly for situations like distressed loan workouts. Unlike other hard money lenders, the company mainly focuses on commercial properties, not single-family homes, and has a minimum loan amount of $500,000 to $1 million.
Commercial hard money loan terms include:
LTV: 50-80% LTV depending on the individual loan product
Loan Term: 12 months - 5 years
Interest Rates: 5.5%-9.5%+
DSCR: 1.0x-1.25x
Some of their loan programs require credit scores and income documentation, while others don’t. However, their no-doc commercial loan program only offers leverage up to 50% LTV.
6. Plymouth Funding, LLC
Sandy Springs-based Plymouth Funding, LLC offers several hard money loan options, including fix-and-flip loans, rental property loans, new construction loans, and commercial real estate loans.
Their terms for fix-and-flip loans include:
LTV: 60%-75% maximum
Loan Term: 12 months
Interest Rates: 12%+
Loan Origination Fees: 2-3%
Minimum Credit Score 650+
Eligible Property Types: Condos, townhomes, apartments, single-family homes
Rates and terms for rental loans and new construction loans are similar, with rental loan terms provided up to 18 months.
Plymouth Funding is currently led by Managing Director Brian Seitz.
7. Southeast Private Lending
Roswell-based Southeast Private Lending provides a spectrum of loan products, including residential rehab loans, commercial bridge loans. Typical terms for hard money loans include 11-16% Interest rates and origination points of between 5%-10% of the total loan amount, depending on loan sizing. LTVs generally range up to 65%.
Southeast Private Lending has no-doc, low-doc, and full documentation loan options, each with slightly different interest rates and terms. Eligible properties include residential homes and almost every type of commercial property, including niche property types such as car dealerships, car washes, churches, data centers, golf courses, senior living and healthcare facilities, bed and breakfasts, funeral homes, medical clinics, regional malls, mixed-use properties, doctor’s offices, and even lighthouses.
Southeast Private Lending is currently led by owner Gary Ehlert.
8. Paces Funding
Paces Funding is an Atlanta-based hard money lender focusing on hard money rehab loans and new construction financing. They also have a transactional funding program for wholesalers engaging in back-to-back closings, which requires no money down and a fee of just 1.75%.
Terms for their hard money loan program include:
Loan Size: $40,000 to $3 million
LTV: Up to 70% ARV, borrowers must contribute at least 10% of project cost for rehab and new construction
Loan Term: 12 months, interest-only
Interest Rates: Starting at 10%
Loan Origination Fees: 3-5%
Cash-Out: Available
Prepayment Penalties: None
Paces Funding is currently led by Vice President Najee Owens.
9. Angel Oak Mortgage
Atlanta-based non-QM wholesale lender Angel Oak Mortgage offers a wide spectrum of alternative loans, mainly for owner-occupied borrowers in special situations, however, it does offer investor cash flow loans as well.
Major loan products include 1099 income loan, investor cash flow and platinum jumbo programs.
Their investor property cash-flow loan has terms including:
Loan Size: $75,000 to $1.5 million
LTV: 75%+ for qualified borrowers
DSCR: 1.0x minimum, no DSCR requirements for borrowers with 700 FICO score using leverage up to 75% LTV
Loan Term: 40-years fixed rate and interest-only options available
Cash-Out: Available
Portfolio Loans: Available with no maximum property limit
In contrast to most hard money lenders, a borrower must already own their primary residence in order to qualify for their investor cash-flow loan program.
In addition to their investor loans, the company’s platinum jumbo plan offers loans up to $3 million with LTVs up to 80%. Credit score requirements are high, however, sitting at a 700 minimum, and any loan above $1.5 million needs a second appraisal. Bank statement mortgages also offer similar terms, and require 12-24 months of bank statements for income verification.
Angel Oak Mortgage is currently led by Co-CEO Mike Fierman.
10. Hard Money Georgia: Realty Resources Corporation
Hard Money Georgia: Realty Resources Corporation is a direct private real estate lender with 45 years of lending experience. They offer several hard money loan programs, including fix and flip loans, commercial construction loans for a wide spectrum of properties, non-owner occupied acquisition loans, cash-out refinances, vacant and rural land loans, rental property loans, and real estate lines of credit.
Realty Resources corporation is currently led by CEO Ron Lipsitz.
Who are the Best Hard Money Lenders in Atlanta?
Some of the best hard money lenders in Atlanta include: Baker Collins & Co., Fairview Commerical Lending, Atlanta Private Lending, Locklin Capital, and Angel Oak Mortgage.
What is a Hard Money Loan in Atlanta?
A hard money loan is a type of asset-based real estate loan that focuses on a property's value as collateral rather than the borrower's qualifications, such as income or credit score.
Do Atlanta Hard Money Lenders Require Credit Checks?
Many hard money lenders in Atlanta do not require credit checks for their basic loan progams, though they sometimes require them for long-term hard money loans, hard money construction loans, or lower-interest loans.
How Fast Can I Get a Hard Money Loan in Atlanta?
Some lenders fund loans in as little as 24 hours, while others may take up to 3-4 weeks.
What are the Interest Rates for Hard Money Loans in Atlanta?
Interest rates are generally between 7-13%. Some lenders charge as low as 5%, while others charge as high as 20%.