GENERAL LENDING PARAMETERS

Property Types:

All income producing properties, non-owner occupied residential properties, properties under development and land.

Lending Area:

Massachusetts, Rhode Island

Loan Size:

$75,000 to $3,000,000

Loan Term:

6 - 12 months (longer terms accommodated through extensions)

Amortization:

Interest Only

Interest Rates:

12-18% per annum

Loan to Value:

Land Only - Up to 50%
Property Acquisitions - Up to 70%
Cash-out Refinances - Up to 60%

Origination Fee:

An Origination Fee of 2-6% of the total loan amount, due and payable at closing

Prepayment:

No Prepayments Penalties

Commitment Fee:

Typically a Commitment Fee of up to $5,000 will be required by the Borrower at the time of a formal commitment letter is executed

Due Diligence:

Inspection/appraisal, internal review, title report - satisfactory in all respects to the Lender

Mortgage Position:

1st

Broker Fee:

1.5% of the total loan amount but not less than $1,500

Closing Time!!

Regardless of the type of loan a borrower is getting, once we have all the necessary information and match a private lender with a borrower a closing will take place within approximately 7-21 days. In a short period of time your financing needs will be resolved!!

TYPES OF LOANS

Bridge Loans

A bridge loan is a short-term loan which acts as a "bridge" loan for a borrower who typically is in the process of refinancing between one conventional loan to another. A bridge loan is useful when a borrower needs financing for a short period of time where obtaining a long term conventional loan with a fixed rate doesn't make sense (i.e. sale of the property is imminent) and in instances where there will be an extended period of time before a conventional lender is ready to close on a new loan. The typical maximum loan-to-value allowed on a subject property/collateral is 60-70%. Lenders will often require documentation that the property is under agreement to be sold or that a commitment letter has been issued from a conventional lender.

Fill out the Borrower Questionnaire today and take your first step
towards getting a loan!

Construction/Renovation Loans

A commercial investor/rehabber can use a private loan as a lending tool for financing when he/she only plans on holding the investment property until the construction or rehab work has been completed and the property goes to sale. A construction loan will typically be disbursed in increments as a borrower needs funds to complete construction of the property. Once a property has been constructed and/or renovated and sold for a profit, the loan with the private lender is paid off in full or gradually in consideration of a private lender partially releasing some of the collateral. The typical maximum loan-to-value allowed on a subject property is 60-70% with disbursements made to a borrower pursuant to the terms and conditions of a construction holdback agreement signed at closing.

Fill out the Borrower Questionnaire today and take your first step
towards getting a loan!

Commercial Refinances

Commercial refinances allow a borrower to extract equity from real estate already owned in order to get a "cash out" and/or to liquidize some capital. It is often a useful investment tool as it can quickly generate additional working capital for other projects. The typical maximum loan-to-value allowed on a subject property is 70%.

Fill out the Borrower Questionnaire today and take your first step
towards getting a loan!

Purchases

A private loan can be used to purchase real estate when a borrower fails to meet conventional bank standards or does not have time to wait for a conventional lender's notoriously slow underwriting and closing process. Private loans for purchase allow for borrowers with low, bad or no credit to acquire property. The typical maximum loan-to-value allowed on a subject property not purchased at a foreclosure sale is 70%. The typical maximum loan-to-value allowed on a subject property purchased at a foreclosure sale is typically 50%. Loan terms are from 1-2 years.

Fill out the Borrower Questionnaire today and take your first step
towards getting a loan!

Medical Equipment/Medical Office Renovations

If you are doctor or dentist and have your own private practice these types of loans are excellent for financing the acquisition of a specific new piece of medical equipment for the office that is otherwise cost prohibitive. These loans are also excellent for financing the acquisition of new(er) medical equipment for the entire office in order to keep up with technological advances in everyday practice. Our lenders issue loans "ologists" of all types as well as plastic surgeons, dentists, family practitioners. These loans are excellent for medical professionals that suffer from bad credit but have a healthy, thriving practice. Typically loans range from $10,000-$350,000 and are repayable over a term of 5-7 years.

Fill out the Borrower Questionnaire today and take your first step
towards getting a loan!