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HARD MONEY LOANS
Condos / Coops
Conversions
Rehab
SFR
1-4 unit buildings
Multifamily
Mix Use
Office Buildings
Commercial
Land Acquisitions
Acquisition & Development
Land acquisitions
Purchases
Refi and cashout.
Program 1)
We offer 65-70% ARV ( No appraisal)
1) Terms: 12 months loans with extension up to 18 months ( P & I)
2) No PPP
3) No appraisal for loans under 1 million
4) Credit scores are not used, a review of your credit report is considered based on its content.
5) Investment properties only
Note: North East States only
Program 2)
90% of Purchase and 100% of Rehab funds ( this program requires a credit of 630 and appraisal)
1) Terms: 12 months loans with extension up to 18 months: No interest payments up to 6 months
2) No PPP
3) Appraisal required
4) Investment and Owner Occupied properties only
Note: Borrower must have liquid funds of 20% for each $ 100,000 of loan proceeds to show liquidity.
Note: All States reviewed
Rates: 14.9% ( program 1 and 2)
Doc's required:
1) Contract of purchase
2) Appraisal ( Program 2 only)
3) Credit report ( program 2 only)
4) project summary sheet
5) LOI From Contractor for rehab work. If Self contractor forward resume of projects completed along with pictures of projects ( if availalble)
6) Line item budget for Rehab
7) Comps of ARV (if self researched) ( Program 1 only) Not a requirement!!
8) Proof of funds for purchase contract
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