Wednesday, October 13, 2010

Florida 1 - 4 Unit Purchase & Purchase-Rehab And Florida Commercial Lending

Program # 1

Territory   AZ, CA, FL
AMNT      $50k - $1.5M
LTV          60%         80%
INT           12.5          18%
PTS          3 - 5
TRM         6 - 12 months
                  2 - 5 years
PPP          None

Program # 2

Territory   Southern Florida Only
Amount    $75k - no max
LTV          70% ARV (75% case by case)
INT           10% and up
PTS          3 - 5
TRM         6 - 12
PPP          No
Credit       600

No appraisal for property under $250k
Points may be paid when sell property (2 points paid at closing)
Commercial Hard Money Nationwide

Program # 3

Territory   Florida, Southeast Only
Amount    $100k - $5M
LTV          65% General, 60% Light Industry, 50% Land
INT           12.5% O/O  &  13% N/O/O
PTS          3
TRM         12 - 60
PPP          1 / 0   2 / 1  3 / 2  5 / 3

Asset Based
Amount    $100 - $2.5M
LTV          60% purchase or as is
INT           start 12%
PTS          3
TRM         See above
PPP          See above
CRDT      None

Docs : 1003, Credit, Photos, Business Plan or Exec Summary, Comps or Appraisal (if have)

Program # 4

Commercial Lending
Territory   Nationwide (Prefer Western States)
AMNT      $50k - $10M
LTV          65 - 75%   Commercial Property
                  100% LTC of 60% ARV - Purchase/Rehab SFR
INT           12%
PTS          5 - 6
TRM         6 - 36 months
PPP          No
CRDT      680

Condo Conversion, Land, Entertainment Complexes, Hotels
Will do Second Mortgages

Program # 5

Territory   NY & FL
Amount    $50k - $4M
LTV          Residential 75% / Commercial 65%
Interest    12.25%
Term        3/20 then Prime + 6
Points      2
PPP          No
Credit       Not credit score driven & No Ratios
                  Mortgage lates OK

Rehab, NOT IN FLORIDA NOW 4/5/10
NY Full Doc, Florida semi full doc
50 - 60% ARV
Rates start at 11 -12%
$1500 inspection fee
2 - 3 points
Loan Amount $50k - $4M  (Min $100k in Florida)

All property types including 1 - 4 Unit, NOO, 2nd homes, Mixed Use
Commercial, Renovation Loans, Construction, Bridge, Developments, Spec Houses

No comments:

Post a Comment