Credit Line for Foreign National Clients and US Citizens .
(only for real-estate purchases)
Term -12 month (12 Month to Utilize)
Interest Rate 8%-10% Fixed
Line Size- $3.000,000- $50.000.000
Advance rate- (Max Per Draw)
Eligible Properties -(Investment Only) Single Family ,Condo,Town-homes,Multi- Family (20 unities)
Ineligible Properties-Commercial ,Co-ops,Manufactured,Mixed-Use,Student Housing,Vocation Rentals
Time to close - 25-30 days
Revolving- Yes
Recourse - No,Non Recourse
Draw Fee- 2% each Advance Draw
Minimum Asset Value- $50.000
Munimum Draw/Asset-$100.000/$35.000
Qualifications
Must show Liquidity -20% of Line Requested Amount(Cash & /or Cash Equivalent)
Bank Statemant - 3Month
Tax Returns -2 Years
Credit Score -Fico 620