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Listing ID #: 10872 HARD MONEY LOANS FOR FLIPPERS WA, CO, TX, FL, MA

Ad Info

  • Date Posted:
  • July 16, 2017
  • Region(s) Served:
  • Washington, Colorado, Texas, Florida, Massachussets

Advertiser Info

 User:  Rjennings

Member Since: Jul 2017

MapQuest


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For This Ad:   140


Description

Rehab • Bridge
Empowering real estate entrepreneurs by enabling their growth though a creative, fluid approach to the real estate backed private money lending industry.
Product Name TCP BRIDGE
TCP 75 PLUS 100
TCP 85 PLUS 100

LTV Up 75% of As Is Value
75% of As Is Value PLUS 100% of Rehab Cost
(LTC 80%) 85% of As Is Value PLUS 100% of Rehab Cost
(LTC 90%)
Geographic Location
TX FL WA CO MA TX FL WA CO MA TX FL WA CO MA
Interest Rate*
8.99% - 10.49% 9.49% - 10.99% 8.99% - 10.99% 9.49% - 11.49% 9.99% - 11.99% 10.49% - 12.49%
Retail Points
2.00 2.00 2.00 - 3.00 2.00 2.00 - 3.00
Size
$150,000 to $3,000,000 $150,000 to $3,000,000 $150,000 to $3,500,000
Position
First Mortgage First Mortgage First Mortgage
Type
Acquisition, Bridge, Refinance Rehab, Acquisition, Bridge, Refinance Rehab, Acquisition, Bridge, Refinance
Term
6 to 12 Months (Extentions Available) 6 to 12 Months (Extentions Available) 6 to 12 Months (Extentions Available)
ARV
N/A Max 65% ARV Max 70% ARV (75% on Case-By-Case)
Minimum Interest
3 Months Minimum Interest 3 Months Minimum Interest 3 Months Minimum Interest
Borrower Liquidity
Zero Minimum (6 months for 75% LTV) 3 Months Debt Service Liquid 3 Months Debt Service Liquid
Credit Score
Minimum 650 (700+ for 75% LTV) Minimum 620 Minimum 620
Experience Requirements
Minimum 4 Similar Projects (6+ for 75% LTV) Minimum 1 Similar Project Minimum 3 Similar Projects
Asset Type
SFR & 1-4 Units SFR & 1-4 Units SFR & 1-4 Units
Construction Draws
N/A Fund Control by 3rd Party Fund Control by 3rd Party
Fees
Processing: $925
3rd Party Appraisal Fee: Varies Processing: $925
3rd Party Appraisal Fee: Varies
3rd Party Fund Control Fee: $800 Setup & $200-$250 Per Inspection Processing: $925
3rd Party Appraisal Fee: Varies
3rd Party Fund Control Fee: $800 Setup & $200-$250 Per Inspection