Private Money Loans
Private money lenders often provide loans secured by property (usually real estate). Technically, private money lenders can be a friend or family member which is why private money lenders are sometimes called relationship lenders.
NOTE: The actual interest rate may vary based on the loan selected, borrower experience, credit history, property type, location, and other factors determined by lenders. The rates advertised are not available in all states. Not all consumers will qualify for specific rates and terms offered to applicants. Rates are subject to change without notice. The lowest rate advertised should generally be considered an ideal lending scenario. The minimum period allowed for borrower repayment is six months and the maximum period of repayment is thirty years. The maximum annual percentage rate (APR) is fifteen percent. An example of the total cost of a loan: A one million dollar loan at seven percent interest-only APR, for one year, with origination fees of three percent, will cost a total of one hundred thousand dollars.
|Minimum Loan Amount|| $2,000,000|
|Maximum Loan Amount||$100,000,000+|
|Interest Rate ||8% – 12%|
Exact % will be provided after reviewing your application
|Origination Fee||2 to 4 Points|
|Term Length||12 to 36 Months|
|Time to Close||2 to 3 Weeks|
|Maximum Loan to Value ($2MM-$5MM)||70%|
|Maximum Loan to Value ($5MM-$100MM+)||75%|
|Acceptable Markets||Nationwide Urban and Suburban|
|Minimum Personal FICO Score||None|
|Legal Fee Deposit||Required|
In Default, Foreclosure
Chapter 11 Exits
Line of Credit
Does not Debt Service
Mobile Home Parks
MG CAPITAL GROUP INC. (MGCG) is a leading private money organization. We offer short-term loans to borrowers, usually for the purchase of, or renovation of, investment properties. We can fund loans that government-backed organizations would never consider. If you’re looking at options for your next real estate project, we invite you to learn more about our private money lending services.
What is a Private Money Lender?
Why choose us?
We are easy to close with.
- Fill the ONLINE APPLICATION
- Acquisitions must be in a valid, duly signed purchase sales agreement. We are not able to review targeted deals.
- Download our summary intake form and send it to us with the items we require, both are at the bottom of each Lending page.
- Be available for questions regarding your loan request during our review.
- Terms issued quickly within 24-48 hours on simple deals and 3-5 days for complex transactions.
- A refundable expense deposit will be required for any necessary third-party reports and legal upon execution of terms.
- We may not require an appraisal, our decision is based on several factors.
- We typically do not require environmental reports or property condition analysis reports, unless there is a concern.
- Closings occur quickly after execution of terms, within 2 to 3 weeks.