If you are worried that the investment property you are looking at might be purchased before your mortgage loan approval has been processed, an asset-based loan should alleviate these worries. Unlike conventional loans, which involve more underwriting and application materials, an asset-based loan includes a seamless process and a quick approval time. One of the greatest benefits for Georgia-based borrowers is the fast application and approval time. ![]() There are many benefits for Georgia Real Estate Investors to use an asset-based loan. ![]() This makes the approval process quick and easy, making it a great solution for real estate investors in Georgia who want to close quickly on a property. Approval is based on the Loan-to-Value Ratio (LTV), which compares the loan amount to the value of the property. A Georgia Private Money Lender works with asset-based loans, which are mortgage loan programs that are based on the value or potential value of an investment property in the loan scenario.Īsset-based loans are ideal for Georgia real estate investors who might be self-employed, have poor credit, or have other circumstances which make traditional mortgage approval difficult. Traditionally, Georgia mortgage lenders work with conventional loans that rely on proof of employment, tax documentation, and credit score. ![]() When working with a Private Money Lender in Georgia, mortgage lenders base loan qualification on the value or potential value of the investment property, allowing prospective real estate investors who may have trouble qualifying for a traditional mortgage an ideal candidate for Hard Money on NON-QM Loan.
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