100%LTC Construction-To-Permanent Financing - Includes Land Acquisition - Hard and Soft Costs

* 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% (3.01%)

Perm Options: [ ] 4.75% 2 year fixed//30 year amortization//2 year Treasury +2.50

[ ] 5.15% 5 year fixed//30 year amortization//5 year Treasury +2.50

[ ] 5.38% 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

Points: 1.00%

Maximum LTC: 100% of costs up to 80% of ''as completed'' project value

Time To Approval: Approximately 10 business days after preliminary documents

Time to Close: Approximately 20 business days after all required documents have been received for underwriting review.

* The Debt Financing option provides fixed terms of 2, 5, or 10 years on a 30 year amortization
* The adjustment caps are .25 annual, 1.25% lifetime cap over start rate

The rates presented are accurate at this time and are not to be considered a rate lock until the commitment is issued.

During the preliminary underwriting process, a Contingent Loan Approval with verifiable Proof of Funds to close can be issued in as little as 10 business days after all requested preliminary documents have been received and passed underwriting review.

Closing costs may also be rolled into the loan to make it possible to net the total funding amount required at closing.

Once an Executive Summary is received, the appropriate Conditional Commitment and required Documents Check List can be provided to proceed with 1 to 3 business days.

Call: 1(931) 546-9010 or email executive summaries for consideration to legacygf@live.com.

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Permalink Reply by Victor Gresham on August 25, 2018 at 10:54pm

Good Evening,

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.

Property Attributes

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.

8% 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 your company 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.

Exit Strategy

Property will be refinanced after one (1) year to repay requested loan amount.

Conclusion

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 your company is interested in financing our purchase of the above property.