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| Financial Solutions - Collateral Based Lending - Frequently Asked Questions |
What is the difference between your loans and conventional bank financing?
- Our loans are funded by private investors. Since the paperwork is less cumbersome,
decisions can be made faster, usually within 5 to 7 days.
- We offer flexible programs with terms beginning from six-months, some with
interest only payments and no prepayment penalties, some with terms as long as
18 months and no payments during the term.
- Call for details so that we can assist with your next commercial acquisition.
What is the Maximum Loan Amount that you will lend?
- Each loan is based upon collateral value, so this provides great flexibility
in loan amounts. Call for specific loan amounts and terms.
Do you offer acquisition and development or construction financing?
- We specialize in providing quick money to facilitate acquisition of real property,
thus permitting time for you to secure long term financing.
- On rehab properties, we will lend up to 75% of the after-repair value.
If bought correctly, the entire acquisition, closing costs, as well as any
renovation costs can be funded.
What documentation is required for loan approval?
- Copy of sales contract.
- AVM or sales comparables (three).
- One page Loan Request Form.
- Photo’s of property (inside and out).
- Complete list of repairs with associated costs.
How can I determine if a property would be fit within your guidelines?
- Provide us with projected numbers, and we will run an Internal Property Analysis
on any deal that you are interested in. It is helpful to know the acquisition cost,
cost of anticipated repairs, projected sales price or source of end loan financing.
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