Lending Parameters
How it Works.
After we receive and review a brief pre-approval form(Loan application form), we provide a clear and competitive term sheet. In the pre-approval form, we ask for basic details of your loan request including a description of the collateral. Please be prepared to provide the following information:
- Deadlines and dates which are critical to the transaction.
- The specific property address.
- Whether the loan is for property acquisition or refinancing of an existing loan.
- The purchase price of the property.
- The intended renovation budget.
- The intended asking price for the property (assuming the project is going to be resold after renovation)
Lending Parameters Summary
| Loan amount: | $500,000 – $100,000,000 (We syndicate and raise capital for loans outside our lending parameters) |
| Loan-to-value: | Up to 85% |
| Loan-to-cost: | Up to 85% |
| Term: | Short & loan term program tailored to fit different loan scenarios. |
| Origination Fee: | 0.1 - 2%, depending on a loan duration, pledged collateral, and risk |
| Rate: | Starting at 9.5%; vary based on risk, the value of pledged collateral, borrower’s experience, type of collateral, loan amount, and loan duration |
| Closing time: | 7 – 14 business days |
| Loan structure: | 1st lien position or junior/2nd lien position |
Underwriting Guidelines
* Application Submission:
The Borrower shall be required to submit a formal application by filling our simple loan application form. We will quickly evaluate your request and send you a quote.
* Lock In Rate:
If the borrower agrees with the repayment quote sent, the borrower shall append his signature to lock in rate (negotiable).
* Document:
The Borrower shall send documents already listed above for review and approval.
* Executing Loan Contract:
The Borrower shall be required to sign the loan agreement contract.
* Loan Origination Fee:
Borrower will be required to pay loan origination fee (one point) as compensation for processing a new loan.
* Funding:
Loan funds shall be wired as directed by the Borrower.
* CLOSING:
Typically, 3-7 business days after submitting an application, we shall work to accommodate a quicker closing if possible. Thank you and i look forward to hear from you.
Additional questions about our process can be answered in the contact us section of our website. Learn more about our Lending Parameters.