Hard Money Loans
Typical Loan Terms:
|Loan Type:||1st Mortgage Lien|
|Loan Amount:||$250,000 - $5,000,000|
|Loan to Value (LTV):||Up to 65% (of appraised value or purchase price)|
|Interest Rate:||8.5% - 12%|
|Term:||1 Yr. (w/Renewal Option)|
|Origination Fee:||1% - 3%|
|Geographies:||NY, NJ, CT & South FL|
|Up To 65% LTV:||On income producing properties.|
|Up To 40% LTV:||On properties with a finished building on it, but not producing income.|
|Up To 30% LTV:||On vacant land|
|Construction Loans:||Loan will be in the form of a line of credit.
Each drawdown is subject to the approval of a professional engineering firm of the lenders choice (paid for by the borrower) to ensure the monies that were loaned to complete the job is in accordance with all the local construction laws and that everything was done by licensed contractors.