Hard Money Loan
Bridge
Program #LG655
Bridge
Program #LG655
Summary of all Guidelines | |
Loan Types | Hard Money Loan |
Property Types | 2-4 Units, Condo, Industrial, Retail, Self-Storage, SFR, Shopping Center, Strip Center |
Lendding Area | arizona, california, colorado, florida, nevada, oregon, washington |
Loan amount Minimum | $30,000 |
Loan amount Maximum | $5,000,000 |
Interest Rate Minimum | 9.75% |
Interest Rate Maximum | 14% |
Points Minimum 1st TD | 1 |
Points Maximum 1st TD | 4 |
Terms | 1 year |
Interest Only or Amortized | Interest Only |
Fees | Underwriting |
Extensions Available | Considered based on Performance |
Lien Position | 1st, 2nd |
Max Points Charge by Broker | 5 |
Prepayment Penalty | No Prepayment Penalty |
Intended Occupancy | Owner Occupied Business Purpose, Tenant, Vacant |
email jevon@jcap.net with scenarios. Here's generally what we do :)
Geographic Location:
CA, UT, CO, AZ and HI
General Loans info:
$100k to $5MM loan sizes (1sts)
3-12 month short term notes
Interest Only payments.
No prepayment penalty
Rates: 1st at 10.875%
No Min FICO
Cash out up to 65% LTV(1st)
Purchase up to 70% LTV
Property Types
1 - 4 unit residential
Loans Products:
Bridge 1st: 10.875% - 12.5%, and 1.5 points (min origination $4k) plus broker(s).
Loans limits: $100k to $2.5M loans. $2.5M to $5M with exception.
Rehab loans:
10.875% - 12.5% new first with holdback, 1.5 points plus broker
Up to 80% of the costs (purchase price/value + costs spent + budget to finish),
No greater than 65% of ARV
Rehab loans (Additional Info):
Renovation budget to finish project:
After repair value ARV:
Cash reserves (liquid cash they have now):
Experience: How many like projects completed in the last 3 years (or ever):
If mid-construction refi (started but couldn't finish), what is the dollar amount of finished work so far:
Submit your scenario:
What's the address of the subject property?
Type of property:
Purchase price and date purchased:
As-is value:
Current loan amounts on the property:
Loans amount needed:
If cash out, what is the cash out being used for?
Credit score:
Exit / How will they pay us off ?
Any tax liens or judgements, if so how much? (They'll have to be paid through closing.)
Own other properties we can cross to make the deal work? If so, need addresses and debt.
These descriptions are limited information and meant for general reference purposes.