* Development/Construction Rates are based on the LIBOR Index.
* Permanent Rates are based on the U.S. Treasury Index.
Loan Amounts: USD$1,000,000.00 to No Upper Limit
Construction Term: 1 year LIBOR plus .50% (2.72%)
Perm Options: [ ] 4.56% 2 year fixed//30 year amortization//2 year Treasury +2.50
[ ] 4.96% 5 year fixed//30 year amortization//5 year Treasury +2.50
[ ] 5.13% 10 year fixed//30 year amortization//10 year Treasury +2.50
Adjustment Caps: .25% annual, 1.25% lifetime cap over start rate
Deferment Provision: No payments during development/construction period. Payments ledger to the loan balance.
Prepayment Penalty: 12 month prepay lockout; no prepayment penalty thereafter
Personal Recourse: Not Required
Maximum LTC: 100% of costs up to 80% of ''as completed'' value
Can you please contact me in regards to the above programs? I have a few files that I would like to talk to you about.
I am looking for asset-based financing.
Property is in escrow.
40-unit motel, 2 mobile homes and 2 SFH, all on the same land.
The numbers are these:
Purchase price $799,000
Gross income $412,000
This is a ten-cap market…so the value of the property is $1,800,000
Seller is retiring, doesn’t need bulk cash, and is willing to carry a second of $399,000 @6% for 3 years.
I need $460,000 for the balance of purchase, closing costs and some cosmetic fixes.
I will refi in 3 years and consolidate to permanent financing.
If it would assist you I have a loan program right now that would allow you up to 75% of the Appraised Value. If the
Purchase price is $799,000
Seller will carry a second for $399,000
So the needed loan is $400,000
The loan is about 50% of the Purchase Price which is good. We would need to see the Financials, Appraisal, get an application filled out, and an NCND, please me know.
Loan would basically look like this 30 amortization, 5,7,10 due.
Rates would be 8 to 12%. I could tell you more after reviewing your file.
I hope all is well.
I am looking for an $8,750,000 equity based loan secured by 213 acres +/- acres valued $17,500,000.
Property / land has real estate attached.
I need to close in 7 -10 business days.
The property address is 140 Aubrey Dr. Butler, PA..
The property includes a 18 Hole Golf Course (approx. 110 acres ), approx. 105 acres of vacant development land, Clubhouse, Tea House, and associated Maintenance Buildings.
All of the land with the exception of 33 acres is zoned R-2 ( 8 units per acre).
A $1,000,000.00 + Clubhouse, 60 Golf Carts, and Tea House along with golf course maintenance equip.
The property and land is owned free and clear of any liens and held in a Family Trust.
Legal Description of Property
060-2f104-13E, 060-2F104-13F, 060-2F104-23DAA, 056-4-1, 056-4-2, 056-39B.
These parcels are located in Butler and Center Twp.`s of Butler County, Pennsylvania.
Requested Loan Terms
Non-Recourse Land Loan - Quick Close is the type of loan requested. (7-10 Days)
$17,500,000 Current Market Value.
$8,750,000 Requested Loan Amount (50% LTV).
1 Year Loan Term.
10% Annual Interest Only Payments.
(The entire one (1) year of interest only payments will be prepaid at closing so that there will be no interest only payments due during the one (1) year loan term.
One (1) Point paid for Loan Origination Fees.
If Land Finance Group LLC has an interest in approving our loan request to purchase this property and need more information, please email me with the request and I will secure the requested information.
Property will be refinanced after one (1) year to repay requested loan amount.
Property will be purchased for humanitarian purposes and to be developed for assisted living facilities.
Note: All property information provided by Seller.
I look forward to answering any questions you may have via email in order to receive a preliminary decision whether or not Land Finance Group LLC is interested in financing our purchase of the above property.
I have a new partner at my firm that can address this loan for you. being that the description above is for land and at 50% LTC, and you have an exit strategy of under 3 years, we would like to have a conversation with you.
Do you have, a 5 year proforma, for this development project?
Please call me 585.376.2505, email@example.com.