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02-22-2010, 11:31 AM #1
Fixer Upper
- Join Date
- Feb 2010
- Location
- CA
- Posts
- 32
Small Balance Loans -21 Days Closing-Bad Credit is Ok!
This is the perfect loan for Hard Money Refinance or
The Investor who's credit is not strong
Property Types- All types except
Gas stations, Assisted Living, Land, Metal Stamping, Anything with Heavy Chemical Use
LTV- 70% Is the maximum loan to value and is for the strongest properties and borrowers.
Purchase, Cash Out and Rate and Term Refinance:
Use this loan to capitalize on the distressed commercial real estate for sale.
Loan Amounts- 100k-400k call for loan amounts greater than 400k.
Our investment bank originates commercial loans from 1mm – 25mm
***Restaurant Max 55%
***Auto related Max 60%
*** Religious Organization Max 80%
States NOT allowed-MI, OH, NV, HI, Al, AK, VT, WV
Credit Notes- Full Recourse to sponsor. 600 + scores only. If <600 score sponsor must have a verifiable explanation of major life event to be considered for an exception.
Turn Time- Close less Than 21 days after appraiser views the property. We work off of a verbal value from our appraisers.
Hard Money
. $ 100,000 to $ 25 Million or more!
. 1 to 3 Year Terms
. Good exit strategies are critical
. QUICK CLOSINGS
. LOW OR NO DUE DILIGENCE FEES!
. MUST have good credit!Last edited by marketguru; 02-22-2010 at 11:32 AM. Reason: did not post everything
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