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America direct finances
Location:
Houston, TX
Description:
Commercial Lending First Mortgages Loan to Value Ratio Up to 75% (up to 100% in certain cases) Interest Rate 6.00% 12% Term 1 3 years; 5-25 years Amortization Interest Only Recourse & Non-recourse Lender Fee 3 5 Points Exit Fee None Extensions Yes Extension Fee: 1/2 1 Point Borrowing Entity: Special Purpose Entity Construction Lending Program Loan sizes range from $500,000 to $350 million. Term ranges from 12 to 24 months. Interest rates: spread over Wall Street Journal Prime Rate. Guaranty is full recourse for project completion and loan repayment. Subordinate mortgages may be permitted subject to secondary market loan guidelines and completion of lender due diligence and underwriting. Prior to closing, a suitable permanent loan commitment must be in place. Gap funding permitted subject to due diligence and underwriting. Typical due diligence fees apply which cover the costs of third party reports (appraisal, market feasibility if rental achievement is a requirement of permanent loan commitment, phase I environmental and plan & cost review) and other lender due diligence costs. The borrower is responsible for legal fees and customary closing costs. Conventional Lending Program Loan sizes range from $1 to $500 million. Term ranges from 24 to 25 years Loan to value from 70-85%. Interest rates: spread over Wall Street Journal Prime Rate. Guaranty is full recourse for project completion and loan repayment. Subordinate mortgages may be permitted subject to secondary market loan guidelines and completion of lender due diligence and underwriting. Prior to closing, a suitable permanent loan commitment must be in place. Typical due diligence fees apply which cover the costs of third party reports such as the appraisal, phase I environmental, plan & cost review, and other lender due diligence costs. The borrower is responsible for legal fees and customary closing costs. Call us for current rates Non Recouse Loans Non-Recourse Commercial $1 to $50+ Million Rates from 3.75% Terms Up to 30 years Max LTV 85% Nationwide Urban and Suburban Income-producing commercial properties without differed maintenance A third party expense deposit is required. Acceptable Property Types: Hospitality, NNN, Warehouse, Retail, Office, Self-Storage, Assisted Living, Student Housing, and Mobile Home Parks. 916743XXXX call now! Apply now at XXXX@americapdirect.net
Category:
Financial & Legal Services
Posted:
November 23 2023 on Claz
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