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 70% 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 start at 10% per annum, interest only, depending upon collateral and loan structure.
Borrower must contribute at least 10% of project cost
Fees of 3-5% of the loan amount. (minimum fee may apply)
$40,000 – $3,000,000
1st Lien Mortgage on Real Estate