Loan Terms

• 12.0% interest rate
• 3.0 origination points
• Monthly Payments
  • Interest only
  • No amortization of principal
  • No tax or insurance accruals
• Other Costs:
  • $295 property valuation and loan commitment fee
  • $95 construction draw fee
  • $450 title review and loan doc review fee to King Title ($0 if closing at King Title)
• No prepayment penalty

Loan Criteria

• Loan Size – $25,000 to $350,000, total of purchase and construction funds.
• 65-70% loan to value (LTV) based on the after repair value (ARV) of the property.
• Closing costs and points can be financed if LTV allows.
• Borrower can be you personally, LLC, or corporate entity. Personal guarantee required.
• Commercial loans only – no loans on owner-occupied homes due to licensing restrictions.
• Property must be located in Maryland or Washington D.C.
• Security for loan is a first lien on the subject property. Other real estate collateral can also be used to secure loan.
• Main criteria for both deciding to do a loan and for the loan amount is the asset value of the property. This is followed by the cash reserves you have available to handle closing costs, to front construction draws, and for delays or surprises that might affect the project. Finally, income, credit score, and experience are weighed in making the lending decision.