100% LTC & 100% CLTC Acquisition & Development Financing
Condo Conversion Financing
Program guidelines:
- Loan Amounts from $5 Million to $500 Million
* $5 Million minimum in the United States
* $10 Million minimum International - 100% LTC on all Soft & Hard Costs & Interest Reserve
- Available in the USA, Canada, Mexico, Bahamas, Caribbean, So. America
- Max Loan to Value is 80% of completed value
- Loan term is 36 months with options to 60 months
- Interest Rate is LIBOR + 2pts (varies between 1pt & 2pts)
- Initial Commitment fee is required $10,000 to $70,000 depending on project, location and loan amount
- Closing costs can be rolled into loan if it does not exceed 80% of completed value
- Total Points on file to be roughly 4 points (IFS included in this amount)
- High Leverage Participation Fee: **Either** 2% on Debt or 10% of Profit from sales.
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West Coast Based projects (CA, WA, OR, NV, UT, etc):
* 100% LTC on loan amounts from $5 Million to $65 Million
* Loan amounts over $65 Million requires 2 loans (75% & 25%)
* The 25% equity portion requires 15% to 18% profit sharing (on the 25% portion)
For us to review your project for financing, please email us the following documents...
* Detailed Business Plan
* Detailed Pro-forma
* Summary Form (please request this from us)
Special Notes:
- Commitment Fee is due at time of Term Sheet is issued & not negotiable
- Commitment Fee does not cover 3rd party reports, appraisals, surveys, attorney or title fees due before there is a funding.
To proceed to a successful closing and funding on this program please contact us via e-mail or phone.
Sincerely,
Sean Allen
President
Ph: 239-898-9281
Email: sallen11867@aol.com
Please keep in mind that Terms & Conditions are subject to change at any time without notice. For the most current Guidelines please give us a call or send an e-mail.
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