Property types: |
Most commercial property types considered including land |
Lending territory: |
We lend in the United States and United States territories |
Valuation criteria: |
Purchase price or commercial broker quick sell value |
Loan-to-value: |
Up to 70 or 80% on purchases, but 20 to 30% cash is required from borrower at closing |
Amortization: |
Interest only, monthly |
Loan size: |
Strike zone is $800,000 to $4,000,000 |
Loan term: |
One (1) year term with renewals if paid as agreed |
Interest rate: |
12% interest only |
Broker points: |
Added to 1st year and paid at closing |
Broker protected: |
Broker fee on term sheet and paid off HUD |
Prepayment penalty: |
Usually there is no penalty |
Time to closing: |
Time varies, but can be as short as ten (10) business days to one (1) month (beyond if borrower delays). |
