Our core loan program is described below. Because we underwrite and make loan decisions in-house we can adapt our program based on the loan scenario and the risk. The program listed below provides a guide to understand our parameters. Please contact us directly with any scenarios you have.
Property types
- Single family (SFR)
- 2 – 4 Family (Multi-Family)
- Commercial
- Land
Loan Types
- Rehab/ Renovation
- New Construction
- Condo Conversion & Development
- Land Development & Subdivision
- Change of Use
- Short-Term Bridge Loans
| Loan Parameters | |||
|---|---|---|---|
| Loan Size | $100,000 – $3 million | ||
| Loan Term | 6 -12 Month Terms – Extensions available at lender discretion | ||
| Loan Category | Private Commercial (“Hard Money”) | ||
| Payments | Payments are interest-only due every 30 days, 1st mortgages only | ||
| Loan to ARV | Typically 70% of Current or After Renovation Value (ARV) – Higher amounts are negotiable | ||
| Down Payment | Minimum of 5-20% of the purchase price as a down payment, determined by scenario | ||
| Ownership | Must be non-owner occupied/investment only | ||
| Time to Close | 5 – 7 Business Days – Subject to Title | ||
| Security | 1st Mortgage Loans Only | ||
| Underwriting | Collateral-Based Lending | ||
| Interest Rate/Points | Call to Discuss | ||
| Lending Areas | MA, NH, ME, RI, CT, FL and others available depending on location/loan scenario | ||