Question 1

Does a Georgia bridge note pay the intangible recording tax?

Accepted Answer

Not while it stays inside 62 months. O.C.G.A. 48-6-61 taxes an instrument securing a long-term note at $1.50 for each $500 of face amount, about 0.30 percent, and 48-6-60(3), as amended by HB 586 effective July 1, 2025, makes a note long-term only when part of the principal falls due more than 62 months out. A 24 to 36 month bridge pays zero. The number matters at bridge size: a $10,000,000 long-term note would carry $30,000 face tax before the statutory cap, which is $25,000 on a single note and reached near $8.33M. So the tax is a real line on the permanent takeout and a non-event on the bridge. Model it on the exit, not just the entry, and have your closing attorney price it. Subject to underwriting.

Question 2

What does a lender's remedy look like in Georgia if a bridge deal goes sideways?

Accepted Answer

Non-judicial power of sale, then a court hearing if anyone wants a deficiency. Georgia is a security deed state: under O.C.G.A. 44-14-60 the deed to secure debt passes title to the lender until the debt is paid. Sales run at the county courthouse on the first Tuesday of the month between 10:00 A.M. and 4:00 P.M. under 9-13-161(a), after written notice to the debtor no later than 30 days before the sale under 44-14-162.2(a) and advertisement weekly for four weeks in the county legal organ. Then the distinctive part: under 44-14-161 no deficiency judgment is available unless the sale is reported to the superior court judge within 30 days for confirmation, and the court may not confirm unless satisfied the property brought its true market value. A cheap credit bid forfeits the deficiency claim. Borrowers should also know 13-1-11 voids an attorney fee clause unless the holder gives written notice and ten days to pay principal and interest without the fees. This is background, not legal advice.

Question 3

What does Georgia charge me to record the purchase and the loan?

Accepted Answer

The deed is taxed lightly and the security deed is not taxed at all. O.C.G.A. 48-6-1 sets the transfer tax at $1.00 for the first $1,000 of consideration plus 10 cents for each additional $100, which is 0.10 percent: on a $5,000,000 commercial purchase that is $5,000 ($1 on the first $1,000, plus 49,990 additional $100 units x $0.10 = $4,999). Under 48-6-2(a)(1) any instrument given to secure a debt is exempt, so your security deed carries no transfer tax, and under 48-6-2(a)(7.1) the deed from the debtor to the first transferee at a foreclosure sale is exempt too, which matters if you are buying out of a completed foreclosure. We publish no Georgia recording fee schedule, because the current superior court schedule was not verified. Your closing attorney will quote it.

Question 4

Is there a rate ceiling on a large Georgia commercial loan?

Accepted Answer

Georgia tiers usury by loan amount, and a commercial bridge sits in the top tier. Under O.C.G.A. 7-4-2(a)(1)(B), where the principal is $250,000 or more, the parties may establish by written contract any rate of interest, in simple interest terms or otherwise, and any charges to be paid by the borrower. Below that, 7-4-2(a)(1)(A) covers loans over $3,000 and under $250,000 with a similar freedom of contract, except as Code Section 7-4-18 provides. And 7-4-2(a)(3) says origination fees and discount points on a loan secured by real estate are not interest and are not counted in calculating it. None of that means Georgia has no limit: 7-4-18 makes charging more than 5 percent per month by any contrivance a misdemeanor, and says nothing in 7-4-2 modifies it. Our terms sit well inside these rules, and your Georgia counsel should read the note before you sign.

Question 5

What credit do you need for a Georgia bridge loan?

Accepted Answer

There is no minimum score on this program. Bridge is asset-based, so credit is reviewed but carries far less weight than it would at a bank. The file turns on the asset, the business plan, and the exit. Weaker credit is usually answered with lower leverage rather than a decline, and there is no hard credit pull to start. Residential bridge files can close in 5 to 7 days once title and the Georgia closing attorney are lined up. Subject to underwriting.

Question 6

How much equity do I need in a Georgia bridge deal?

Accepted Answer

Plan on 25%. We lend up to 75% LTV, so on a $4,000,000 Georgia asset that is up to $3,000,000 from us and $1,000,000 from you (4,000,000 x 75% = 3,000,000), before closing costs. The loan is interest-only on a term of up to 24 to 36 months, and the ceiling is $10,000,000. Budget the attorney closing and the 0.10 percent transfer tax on a purchase. For what a specific metro is doing, see Atlanta CRE bridge. Subject to underwriting.

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