PRIVATE LOANS
It’s often easier to qualify for private mortgage loans because the focus is on the property and its value.
Highlights
→ Monthly interest only payments at 1% rate.
→ Closing costs can be added to the loan amount. No out-of-pocket expenses for you.
→ Low documentation process
→ No seasoning of funds
→ Corporate title is acceptable
→ Loan decision within 24 hours
→ Recent foreclosure – OK
→ Recent short sale – OK
Requirements:
→ Loan amount – The loan amount for a private loan is generally $75,000 to $1,000,000.
→ Down payment – Require 50% as a down payment plus closing cost.
→ Credit history – Approval based primarily on borrower’s ability to repay loan, rather than credit score
How it works:
→ Approval based primarily on borrower’s ability to repay loan, rather than credit score.
→ 24 -36 month terms, which is renewable for same period of time without cost to you, based on payment history.
→ One balloon payment at the end of the loan, for the total of principal amount owed.
SCENARIO:
The payment on a $200,000 2 year private loan at 12% and 50% loan-to-value (LTV) is $2,000.00. The Annual Percentage Rate (APR) is 15.316%.
* Payment does not include taxes and insurance premiums.
* Rates are subject to change without prior notice.
* Loan information is informational purposes only and is not an offer to make a loan.