Our main focus is on single and multi-family residential properties consisting of 2-4 family houses. We do not lend on vacant land or development of land consisting of variances, and town approvals of subdivisions.
Will Peak lend on an investment property I want to buy and refinance at a later date?
Mostly no, as this is not our sweet spot in lending. This depends on the borrower’s experience, our relationship, type of new construction, market conditions and loan to value, and is decided on a case-by-case basis.
Yes we are direct lenders and NOT brokers, as we use our company funds along with our investing partners and accredited investors. Your loan is not outsourced to a third-party servicing company as we service our loans directly.
Your submission package, if complete, will be reviewed and analyzed within 48 hours. Then you can get a pre-approval based on your application and information of the project. After that, we will perform our full due diligence. Depending on the complexity we will usually give our response in 2-3 days.
Our fees start at 1% of the loan amount depending upon the LTV, condition and work involved on the project. We also may include a project management fee depending on the experience of the borrower. Many newer and mid-level investors find this service very valuable, as they have added assistance to the project.
Mostly yes, but with our unique proprietary programs and assistance, we lend to beginners as well as the less experienced investors. Bring a qualified project and we will assist you in getting the project completed and provide the needed funds.
They all need to be licensed and approved by us. With our proprietary programs, we can assist as well in getting your rehab completed by offering our competent contractors and our project management services.