Property Types: Non-owner occupied residential, commercial, all income producing properties, rehab/flip, ground up construction, land, all types considered.
Lending Area: Massachusetts, Rhode Island, New Hampshire
Loan Size: $100,000 and up
Loan Term: 6-12 Months (longer terms accommodated with extensions)
Monthly Payment: Interest Only
Interest Rates: 12-14% per annum
Loan to Value: Up to 75%
Commitment/Origination Fee: 2-3% of the total loan amount, due and payable at closing
Prepayment Penalty: No prepayment penalties
Commitment/Origination Fee Deposit: A commitment/origination fee deposit will be required by the Borrower upon execution of the commitment letter to cover Lender’s up front due diligence fees and costs. This is not an additional fee and will be applied to the Borrower’s closing fees and costs.
Due Diligence: Inspection/appraisal, internal review, title report – satisfactory in all respects to the Lender
Mortgage Position: 1st mortgage position
Broker Fee: When applicable a broker fee of 1-2% of the total loan amount, due and payable at closing.
Brokers Protected: As part of our team approach Brokers will always be recognized on the HUD 1
Turn Around Time to Close: 7-14 days from receipt of signed commitment letter. In a short period of time your financing needs will be resolved.
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We look forward to your inquiry about our unique lending services.