WHat to ask your hard money lender

When you buy a home, you know that you need to work with a team of professionals you can trust. Unfortunately, not everyone in the business is honest; in fact, less than 2 months ago, an Arizona man was sentenced to 6 years in prison for his role in taking more than $3.5 million from unsuspecting homebuyers.

But how do you know you’re working with honest professionals in order to protect yourself?

It’s easy – you just have to know what to ask.

What to Ask Your Atlanta Hard Money Lender

Whether you’re working with a hard money lender for the first time or you’ve been through all this before, it’s a good idea to do some homework. Here’s what you need to ask:

  • How long have you been in business?
  • How big is your company?
  • What is the interest rate on an Atlanta hard money loan through you?
  • What are the terms?
  • How soon will the money be available?

The main purpose of the first two questions can help assure you that you’re working with an honest lender. It’s best if you work with someone who’s been in business for 10 or more years, as well as someone who’s extremely established in the industry. (Paces Funding is the largest hard money lender in Atlanta.)

You may not be very experienced with hard money loans, so it’s very important that you work with someone who is.

The other questions help you determine whether you can afford the loan and how much it will cost you over time, and they’re pretty standard to ask when you take out any loan.

Do You Need a Hard Money Loan?

Call Paces Funding at 404-814-1644 or fill out our easy online application. We’ll be happy to answer your questions and help you get the money you need quickly.