We only lend in First Lien Position. All residential properties must be Non-Owner Occupied to be considered for a loan.
Our Loan-To-Value limits are based upon the project’s classification:
One to Four Family Residential Rehab
Up to 70% of the After Repaired Value
One to Four Family New Construction
Up to 70% of the After Built Value
One to Four Family Acquisition (non-rehab)
Up to 65% of the ‘As Is’ value
Commercial Rehab
Up to 65% of the After Repaired Value
Commercial New Construction
Up to 65% of the After Repaired Value
Equity Cash Out
Up to 40% of the ‘As Is’ value
Raw Land Development into Finished Lots
Up to 65% of the After Developed Value
Terms:
Depending on the project our terms are from 3 months to 18 months
Never a Pre-Payment Penalty After 3 Months
Rates:
Depending on the project our interest rates are between 11% and 13%
Points:
Points are between 4 and 5 and paid at closing