Bridge and Rehabilitation

Property Types: Office, Industrial, Multifamily, Retail, Self Storage, Assisted Living/Congregate, Manufactured Housing (Mobile Home Parks), Special Use (Almost anything except outlet malls and land, especially if the sponsorship is financially strong).

Maturity: Exit Strategy mandatory - 12 to 36 months

Markets: Nationwide major MSA’s in cities with 50K populations

Loan Size: Minimum $2 million to Maximum $12 million loan amounts

Pricing/Points: Prime Plus 2.75% and 2 points

Max LTV 70% Purchases and Refinances we use LTV unless the property was acquired within the last year then we use what the cost was in determining value. We order an appraisal to make sure borrower didn't overpay which is extremely rare, but if borrower did we default to value. Existing hospitality max 50% LTV

Exit: Must underwrite to current conventional refinance guidelines at inception or at exit

Borrower Liquidity Borrower must have 10% liquidity of the loan amount request pre closing Cash or marketable securities. We can count IRAs and 401k’s at about 65% of their face value

Close Time: 30 - 45 days

Appraisal: We order appraisal and all third party reports

Pre-Qualification Package