PURCHASE, CONSTRUCTION  

& RENOVATION LOANS. 

An investor/rehabber can use a private loan as a lending tool for financing when he/she only plans on holding the investment property until the construction or rehab work has been completed and the property goes to sale. A construction loan will typically be disbursed in increments as a borrower needs funds to complete construction of the property. Once a property has been constructed and/or renovated and sold for a profit, the loan with the private lender is paid off in full. The typical maximum loan-to-value allowed on a subject property is 70% with disbursements made to a borrower pursuant to the terms and conditions of a construction holdback agreement signed at closing.

GENERAL LENDING PERAMETERS: 

LOAN SIZE & TERMS

Up to $1,000,000

for 6-12 months.

MONTHLY PAYMENTS

NO Monthly Payment Program

Peak Proprietary Program

INTEREST RATES

Programs starting at 9.99%

per annum and

NO prepayment penalties!

REQUIRED FOR LOAN ACCEPTANCE:

  • Submission Package Submitted and Approved

  • Contract of Sale and or Assignment

  • Clear Marketable Title Policy

  • Liability and Hazard Insurance at Closing

  •  Scope of Work & Draw Schedule Completed

  •  Ferrous Metal Scan (Under Ground Tank Sweep) 

  •  Flood Search and Map

  •  Home/Termite Inspection

LENDING AREAS:

 

NJ, NY, FL, PA, MA, CT, DE, MD, OH, TX  

PROPERTY TYPES:

Non-owner occupied residential; commercial; all income producing properties; rehab properties; ground-up construction.

 LOAN TO VALUE

Property Acquisitions and Rehab – Up to 70% of After Repaired Value

Peak Proprietary Loan Program - Up to 100% Financing

Cash-out Refinances -On Non Owner Occupied or Vacant Investment Properties to 65% LTV

WHEN OTHERS SAY NO, WE SAY YES! 

We are Active Investors... Lending to Investors...Understanding exactly what they want. Easy! Fast! Simple!

free loan ANALYSIS

Free Initial Analysis of Borrowers Submission Package:

 DUE DILIGENCE:

Inspection/appraisal, internal review, title report – satisfactory in all respects to the Lender

MORTGAGE POSITION:

1st Mortgage Position Only – No Second Mortgages Permitted Or Peak Proprietary Program Regulations Apply

Direct Private Lender

We are NOT Brokers...

But we are Broker Friendly

 TURN AROUND TIME TO CLOSE:

5-7 days after an approved

Submission Package and Clear Title

© 2020 by Peak Properties, LLC

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