Interest rate can vary, dependent upon
LTV and loan size
To learn more call
866.811.9217
5 Yr. Adjustable
Mortgages From 4.50%
Loan Parameters
Loan Geographic Coverage:
Nationwide
LTV:
80% ( 65% for MI, OH, FL, IN )
Loan Size:
$750,000 to $25,000,000 +
Terms:
5-30 years with 30 year amortization
Property:
Seeking 4 Star and up communities.
Parks to have 50 plus pads, 50% or
greater doublewides, paved and
curbed streets and extra park amenities
like club house, pools, tennis courts.
Transferable :
Loans are assumable to a buyer for
speedy ownership transfer.
Secondary Financing:
Allows
investor in future years to draw equity
from the property without having to
refinance the 1st mortgage with low
secondary interest loans. CLTV up to
80%
Prepayment Penalty:
Step Down or Yield Maintenance
Minimum
Occupancy:
90% for loans up to $3MM and
85% for over $3MM for 90 days prior
Investor Requirements
Minimum net worth & liquidity needed
Minimum credit FICO score of 680
Live within 100 miles of property or
have two years of similar size property
ownership experience
Initial Underwriting Requirements
Current rent roll
Rentable square footage of property
A few exterior color photos of the
property, "if possible " via email
Last two year & year to date property
operating statements
Gross monthly revenues by the
month from the last six months. For
loans over $2mm a 12 month trailing
profit and loss statement by the month
is requested.
Economic & Interest Rate Outlook -
3-02-09:
The Treasury supply that has been
threatening the market is now beginning
to hit. On top of that, the U.S. Federal
Deposit Insurance Corporation seems to
be offering competition to Treasuries as
it voted on a plan to guarantee new debt
issued by banks. The result means an
ever growing supply of government
guaranteed debt. Whether issued by the
U.S. Treasury or another entity, if the
guarantee is through the U.S.
Government, it is effectively sovereign
debt. So as we have seen recently, even
as the equity markets struggle, longer
term rates continue to be pushed upward.
California loans through PriBanc , A PriBank subsidiary CA Lic. #00402953 DRE