6 – 12 months
No prepayment penalties.
USE OF PROCEEDS:
Loans are made for investment purposes only. Cash out refi also available.
LOAN TO VALUE (LTV):
Loan amounts can be up to 65% of the ARV value of the collateral. If the loan is used for renovation or construction, the loan amount can be based on the improved value. Repair funds are held in escrow and are disbursed once construction milestones are reached.
Rates vary from 13-15% per annum, interest only, depending upon collateral and loan structure.
Borrower must contribute 15% of project cost
Fees of 4-5% of the loan amount. (minimum fee may apply)
$25,000 – $3,000,000
1st Lien Mortgage on Real Estate