Large bridge lender who has MONEY TO LEND up to $50M and ...
Private Money Bridge?Financing for Commercial?Mortgages
- short-term bridge financing solutions for both first ?commercial mortgages
- bridge the arrival of longer term financing from a conventional institutional lender or to provide time to value-enhance a project or property type prior to sale
- bridge?financing covers conventional and non-conventional situations and typically last from 1 month to 3 years
- size range: $250K ?to $50 million
Private Money Construction Loans & Pre-development Construction Mortgages
- construction?mortgages to complete:
- residential and commercial new construction building projects
- revolving loan facilities for new construction and builder inventory
- renovations, conversions and expansion financing for the changing uses of real estate
Eligible Properties
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Typical properties include the following:
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Lending Area:
US & Canada
Minimum/Maximum Loan Amount:
From $250K to $50M
Minimum/Maximum Term:
From 1 month to 3 years
Amortization:
Interest only or flexible amortization
Rate and Points:
Varies depending on circumstances ? RATES 10-12% ??????? POINTS 2-4%
Payment Frequency:
Monthly ? in some cases loans can include an interest reserve
Loan to Value:
Up to 65% on commercial/ industrial/land and construction loans, higher loan-to-value ratios will be considered with collateral security. Up to 75% on select income producing multi-residential/commercial/industrial properties.
Appraisals/Opinions of Value:
Existing appraisals from a qualified appraiser up to 1 year old are acceptable for commercial real estate financing
Recourse/Guarantor:
Depends on strength of Deal!!!!
Turn Around Time:
Once we have the NF information, we can usually provide a Letter of Intent within a few days, and approve a loan within two weeks!
Best Regards,
Source: http://sincityfinancier.posterous.com/large-bridge-lender-who-has-money-to-lend-up
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