multifamily & mixed usE construction
MULTIFAMILY & MIXED USE CONSTRUCTION, MAJOR REHAB LOANS
Lending area: Nationwide
Tax Returns: NO tax returns or income verification
Loan Amount: $3 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