high leverage major rehab & construction financing
Multifamily, mixed-use, residential, townhomes & condos
Horizontal lot development with vertical construction or major rehab
Subdivisions and Spec Home Construction
Lending Area: Nationwide
Tax Returns: No tax returns or income verification
Loan Amounts: $3 million - $100 million +
Term: 12 to 24 months
Rate: 7.99% - 9.99%
Interest paid on drawn funds
Origination Fee: Varies
LTC: 90% (hard & soft costs) to 75% ARV (may include most loan costs)
* Dollars borrower has invested into the project reduce cash to close.
* NO monthly payments during construction (interest reserve built into loan)
Recourse: Non-Recourse
Lien Position: 1st
Funding: 3 - 6 weeks
Credit: 620+
Experience: Borrowers must have experience on title building/rehabbing similar projects within the past 3 years
Borrower Liquidity: 5% of loan amount plus cash to close
Foreign Nationals: OK
Fees: NO upfront fees
APPROVAL: Term Sheet within 48 business hours