Second mortgages are available for commercial real estate
properties, subject to funding availability. Basic terms are as follows:
MINIMUM LOAN: $1,000,000
CLTV: 40% to 50% of "AS IS"
value (as per lender's appraisal)
TERM: 12-36 Months
AMORTIZATION: Case by case basis - most
loans are interest only
RATE: 11% to 16%
POINTS: 5 to 7 Points - Plus Closing
Costs - NOTE: Points are based on the total first and second mortgage
balances. For example, if your first mortgage is $1,000,000 and our second
mortgage is $1,000,000 the fee of 5 to 7 Points will be based on an amount
of $2,000,000.00.
Above terms subject to change without prior notice. Other
terms and conditions apply. To apply for a land loan, please Press
Here for the Application.
For more information, please CLICK
HERE to contact us. Thank you.
