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:
REQUIRED FOR LOAN ACCEPTANCE:
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Submission Package Submitted and Approved
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Contract of Sale and or Assignment
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Clear Marketable Title Policy
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Liability and Hazard Insurance at Closing
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Scope of Work & Draw Schedule Completed
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Ferrous Metal Scan (Under Ground Tank Sweep)
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Flood Search and Map
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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
free loan ANALYSIS
Free Initial Analysis of Borrowers Submission Package:
