This value-add loan provides a maximum loan amount equal to 75% of the ARV. Finance up to 100% of the acquisition, rehab cost, points, closing costs and interest reserve. This is a true zero cash to close program for the right property and borrower.
Key Points:
650+ Minimum FICO Score
Up to 100% of the Project's Cost
Closing Costs, Points and Interest Reserve rolled into loan
Experienced Sponsors Preferred
MAI Appraisal Report Required
General Terms:
$2 million - $10 million
LTC Purchase: up to 100%
LTC Rehab: 100%
ARV: 75%
Rate: Fixed Rate
Interest: from 9.00%
Term: 12 months - extensions available
Interest Only Loan
DSCR: N/A
Reserves: 12 month interest reserve - included in loan amount
Purpose:
Acquisition and Renovation
Refinance and Renovation
Collateral:
Mixed-Use
Multifamily
Senior Assisted Living Facilities
Student Housing
Single Tenant
Self Storage
Contact me to discuss your scenario or for additional information. No Upfront Fee!