Mortgage Terms
Properties Considered:
Residential; Rehabs for Flipping, Buy and Hold, New Construction, Cash Out and Cash Out and Refinance
Commercial Real Estate; Apartments, Multi-Units, Warehouses, etc.
Length of Loan:
Flexible loan terms from 9-36 months.
We also have longer term loans available with 30-year fully amortized fixed rate loans.
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 80% of contracted purchase price for purchase transactions
Up to 65% LTV of the as-is value for refinance transactions
Interest Rate:
Rates ranging from 8 to 12%, and long term products with rates that start at 5.99%.
Loan Size:
$25,000 to $10,000,000
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.