Types of Loans

An acquisition loan is used to acquire property using the loan proceeds.  Can be improved lot(s) to completed and operating property.

Acquisition & Development
Loans to both acquire and develop real property to an improved state.  Voucher control is normally set up to disperse loan proceeds with interest only paid on funds distributed.  Loan to value is determined as to the improved value.

Asset Based 
Loans for any purpose whereby collateral is put up for security.

Bankruptcy and Foreclosures
Financing on real property assets until institutional financing is available or sale of asset.

A Bridge Loan is a loan that is used for a short duration of time until permanent financing is put in place.  Bridge loans are a perfect solution to a timely acquisition or business opportunity because they allow a purchaser or investor to act quickly.  These loans can be used for acquisition, buy-outs, foreclosures, cash out and construction purposes.  
Types of properties are income producing property, commercial, apartments, hotel/motel, office buildings, office complexes, golf courses, and almost all commercial businesses. Residential loans can be do in selected areas.  Short-term programs (6-24 months) are available.

Construction Loan is a loan used to construct a building or other improvements of real property, with the land and improvements as collateral for the loan.  Construction reserve accounts are generally maintained to disburse the money as the construction progresses. Up to 100% cost of construction available depending on the improved value.  Type of collateral property ranges from home construction to large commercial projects.

Raw Land
Unimproved real property. From lot(s) to large acreage. Normally raw land is valued at a 90-120 day "quick sale" price to determine loan-to-value ratios.

Rehab Loan
A rehab loan is any loan used to acquire an existing home or commercial property for the purpose of repairing deficiencies and remodeling.



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