Multifamily & Mixed-Use Construction

multifamily & mixed usE construction

MULTIFAMILY & MIXED USE CONSTRUCTION, MAJOR REHAB LOANS

Lending area:    Nationwide
Tax Returns:      NO tax returns or income verification
Loan Amount:    $1 million - $75 million+
Term:                   12 - 36 months
Rate:                     7.99% - 9.99% (interest only on funds drawn)
Origination:         Varies
LTC:                       90% (hard + soft costs) to 75% ARV (may include most loan costs)
* Dollars borrower has invested into project reduce cash needed to close
Payments:           NO monthly payments (interest reserve built into the loan)
Recourse:            Non-Recourse
Lien Position:     1st
Funding:              4 - 8 weeks
Credit:                  620 +
Experience:         Borrowers must have experience on title building/rehabbing similar project(s) during the past 3 years
Borrower Liquidity:  5% of loan amount plus cash to close
Foreign Nationals: OK
Fees:                         NO Upfront Fees