Properties Considered:
Residential (non-owner occupied), Commercial, Industrial and Land.
Length of Loan:
Flexible loan terms from 6-36 months.
Borrowing Entity:
All borrowers must close in the name of an LLC
Lien Position:
First mortgage position.
Guarantee:
A legal personal guarantee is required.
Loan to Value:
Up to 65% LTV of the as is value for purchase transactions
Up to 50% LTV of the as is value for refinance transactions
Interest Rate:
13% (rates vary from 12%-18% per annum, interest only, depending upon collateral and loan structure)
Loan Size:
$75,000 to $1,000,000,000
6 months prepaid interest collected on every loan
Loan Advances:
Funds will be forwarded in draws of 1 to 4 advances to be determined by us. Funds will be wired by direct deposit into an account provided by the investor. An on-site inspection to determine current progress of the project may be required prior to release of funds. A sub-contractor guarantee may be required.
Prepayment Penalties:
No prepayment penalties.
Loan Origination Fees:
4 points.