Construction: Multifamily, Commercial, Hospitality
Retail, Special Purpose and Land Lending Programs
Continental US Only

Bank Style:

Minimum $5,000,000 – no maximum. Maximum 70% LTV up to 100% LTC

Requires ALL of the following : (1) already own the land (2) the land is free and clear (3) have all of the approvals and (4) shovel ready (5) 40% preleased or presold – OR – another income producing collateral where we can file a subordinate lien to cover debtservice (6) creditworthy principals.

    • First position
    • Five year note
    • Loan amount for this fund-controlled development and construction project will not exceed 70% LTV of the completed value and not to exceed 100% LTC, all-in, of the total project hard costs.
    • [If land NOT free and clear, loan will not exceed 70% LTC.]
    • Borrower must have the other 30% of the project costs in cash and/or equity in the land.
    • Points, broker commissions and interest reserve set aside from loan proceeds on the first draw, not to exceed 70% of the As-Is-value-in-place.
    • The interest rate will be 7% to 9% per year and set after the underwriting.
    • Interest-only payments paid monthly for the first 2 years and then 20 year amortization for remaining 3 years of this 5 year loan.
    • Origination fees are 3-5 points (the points will be deducted out of loan proceeds at the close)
    • No exit fees
    • Prepayment penalty (PPP) is 12 month’s interest
    • Release clause of 80% of actual sale price of any units, if required.
    • The construction project will need to be 40% pre-leased or pre-sold for all units being built to be leased or sold.
    • OR
    • Without the pre-leases or pre-sales, we require additional collateral that is cash flowing  (using any type of steady cash flow stream to yield a 1.0x DSC) for the debtservice, where we will file a subordinate lien.
    • We require a strong guarantor(s) with this quote – demonstrate that the required cash is available, liquid, good credit, experienced, etc.
    • $3,000 due upon acceptance of the LOI, and then a deposit when a commitment is issued, which will be applied to the 3rd party costs and legal (commitment deposit)
    • Funding date of 45 days from letter of intent being accepted allowing 30 days for appraisal


Private Money Loan Programs:

 A.   Minimum $5,000,000 – no maximum; 70% LTV to 100% LTC

Requires (1) land already owned (2) free and clear (3) all of the approvals (4) are ready to pull the permits, (4) no pre-sales/leases required (5) creditworthy principals.

    • First position
    • One year or two year Note
    • If land free and clear, up to 100% of Loan to hard costs, not to exceed 70% LTV.
    • Points, broker fees and commissions and the interest reserve paid out of the loan proceeds on the first draw.
    • With this quote we will not make any lien pay downs or pay offs.
    • Liens may remain but in a subordinate position.
    • No cash out and No acquisition money – funds used for construction costs only
    • The interest rate will be 8-10% per year and set after the underwriting.
    • Interest only payments paid monthly.
    • Origination fee 8-10 points (the points will be deducted out of loan proceeds at the close)
    • Prepayment penalty (PPP) is six months of interest payments.
    • Release clause of 85% of sale price for units sold as needed
    • $3,000 due upon acceptance of the LOI, and then a deposit when a commitment is issued, which will be applied to the 3rd party costs and legal (commitment deposit)
    • Funding date of 45 days from letter of intent being accepted allowing 30 days for appraisal
    1. Minimum $5,000,000 – no maximum 60% LTV and 60% LTC.

Requires (1) land to be acquired (2) all of the approvals (3) are ready to pull thepermits; (3) no presales/preleasing required (4) creditworthy principals

    • First position
    • One year to two year note,
    • Loan amount not to exceed 60% LTV of the completed value and not to exceed 60% LTC all-in.
    • [If land owned and free and clear, up to 100% of LTC, not to exceed 70% LTV]
    • Borrower must have the other 40% of the total project costs
    • Points and the interest reserve paid out of the gross loan proceeds on the first draw
    • The first draw will not exceed 60% LTV of the As-Is value
    • The interest rate will be 10% to 12% per year and set after the underwriting.
    • Interest only payments paid monthly …
    • The costs is 8-12 points (the points will be deducted out of loan proceeds at the close)
    • Prepayment penalty (PPP) is six months of interest payments
    • Release clause of 85% of sale price if needed …
    • $3,000 due upon acceptance of the LOI, and then a deposit when a commitment is issued, which will be applied to the 3rd party costs and legal (commitment deposit)
    • Funding date of 45 days from letter of intent being accepted allowing 30 days for appraisal
    1. Minimum $5,000,000 – no maximum 60% LTV and 60% LTC.

Requires (1) land to be acquired (2) do not have all of the approvals (2) not ready to pull the permits (3) creditworthy principals

    • First position
    • Two year note
    • Not to exceed 60% LTV As-Is market value, or not to exceed 60% LTC of the total project costs (with this quote the “As-Is” market value is what the collateral can sell for after marketing the collateral for up to six months)
    • The interest rate will be 11% to 13% per year and set after the underwriting …
    • Interest only payments paid monthly
    • Any needed interest reserve will be deducted out of loan proceeds at the close
    • The origination fee is 8-12 points (the points will be deducted out of loan proceeds at closing)
    • Prepayment penalty (PPP) is six months of interest payments.
    • Funding date of 30 days from commitment being accepted
    • $3,000 due upon acceptance of the LOI, and then a deposit when a commitment is issued, which will be applied to the 3rd party costs and legal (commitment deposit)
    • Funding date of 45 days from letter of intent being accepted allowing 30 days for appraisal

Private Money with Great Credit Loans

 $1 million to $3 million maximum loan – 80%-100% LTC

Three (3) to five (5) strong U.S. Resident Guarantors required with 700 or betterFICO scores

    • With 3 Guarantors, loan not of 80% LTC all-in not to exceed 75% LTV

OR

    • With five ( 5 ) Guarantors loan of 100% LTC all-in not to exceed 80% LTV
    • For a land only, not to exceed 50% to 60% LTV of the As-Is value
    • First position or 2nd position
    • Interest only payments year one, amortizes beginning year 2.
    • Loan matures in 10 years
    • 20 year amortization
    • Prepayment penalty (PPP) is 5% for five yrs.
    • Release clause of 85% of sale price
    • 9% to 12% interest per year and set after the underwriting,
    • Origination fee of 6 points
    • $3,000 due upon acceptance of the LOI, and then a deposit when a commitment is issued, which will be applied to the 3rd party costs and legal (commitment deposit)
    • Funding date of 45 days from letter of intent being accepted allowing 30 days for appraisal