We can handle transactions where the borrower is in foreclosure as long as they have enough equity in their property to pay off the first lender to enable us to receive a clean first mortgage.
We are currently focusing on loans in NV, TX,Colorado, FL, PA, MA, MD,GA,IL,NY and few other states not mentioned but we can always decide based on the deal available on residential investment properties and commercial properties. We can also lend on commercial loans in the Chicago metro area.
Yes we do. We consider second lien on 10.25% – 15.25% interest
Yes, we can accommodate various loan structures based on the transaction.
One of our in house underwriters pulls and analyzes comparables (properties that have sold, properties that have leased, properties that are available for sale, and properties that are available for rent). We will evaluate properties based on the income approach (comparable leases) and the sales approach. In some cases only one of the approaches might be valid for determining the value.
We lend our own funds and can close quickly. Our typical close time is 5-10 days depending on the borrowers needs. We close and fund the same day
We fund with our own capital and therefore are not bound by the same requirements as a traditional lender. All underwriting decisions are made in house by a team of seasoned real estate experts that understand the uniqueness of each market and each deal.