|LOAN AMOUNTS$5,000,000 – NO MAX LOAN AMOUNT
NON- RECOURCE-NO PREPAYMENT PENALTY
All Commercial Property Types Considered
Cash-out Refinance (for acquisition or construction of another property only)
REFINERIES, MILLS, ENERGY PROJECTS-WIND FARMS, ETHANOL PLANTS, BIO DIESEL, RENEWABLE ENERGY PLANTS, CASINO’S, MARINAS , RESORTS, COMMERCIAL ACQUISITION & DEVELOPMENT, INCOME PRODUCING PROJECTS.
90% LTV Purchase/Refinance/Cash-out Refinance
100% Construction (Loan-to-Cost)
30 years fully amortized
30 Year Fixed
2.50% to 5.50% over the 90 Day Libor
Existing reports can be used in most cases (i.e. appraisal, phase 1,etc.)
Close in as little as 90 days
10% of the requested loan amount is required to be deposited in a 24 month face value insured Certificate of Deposit (CD) with designated bank prior to funding. The CD is in the funding entity’s name/Borrower.
The CD is the institutional lender giving your borrower an interest bearing account for the construction period of the project or longer if needed, or for 24 months on permanent financing if not a construction project.
The Institutional lender will collateralize the CD and draw down a line of credit to create the funds needed to finance the projects loan request.
After funding or construction period the borrower can keep the CD or cash it out at current market value at more than original cost.
No payments during construction and while the CD is in place, interest starts to accrue on construction draw downs, payments start once it rolls to perm, or immediately on a perm transactions with no construction component. Construction portion is always quarterly adjustable. Permanent is quarterly adj. as well unless we request fixed which we always can, out to 30 years fixed.