The Basics

THE BASICS:
  • We do 1st Mortgages ONLY.
  • Loan amounts from $10,000.00 on up.
  • Maximum Loan To Value range of 50% – 70%, depending upon each transaction. (Ex. For purchases $100,000.00 purchase price & $125,000.00 current value – maximum loan amount of $50,000.00 – $70,000.00 based off of the purchase price OR for refinances $100,000.00 current value – maximum loan amount of $50,000.00 – $70,000.00). The 70% LTV's are lender loans and 50% LTV's are private investor loans.
  • No Upfront Origination Fees.
  • Close on most transactions in 21 days or less.

PROPERTY TYPES:

  • Residential: Single Family Residence, Multi-Family, Trophy Homes, Condos, Townhouses and Mobile Homes/Manufactured Homes: Single-wide and Double-wide (no age or maximum acreage requirements, but must own the land it is on).
  • Commercial: Office Complexes, Retail Strip Centers, Mixed-Use, Apartment Complexes, RV Parks, Mobile Home Parks, Hotels/Motels, Restuarants, Nightclubs, Convenience Stores, Self-Storage Units and Churches.

LOAN TYPES:

  • Purchases: Foreign Nationals, FHA & Conventional Fallout, Short Sales, Bank Owned REO'S, Real Estate Investors, Blanket Loans/Cross-Collateralize Properties and ARV (After Repaired Value – case by case). Note: Loan Amounts are based off of the Loan To Value of the Purchase Price, not the Current Market Value.
  • Refinances: Foreign Nationals, Free and Clear Properties (No mortgage on the property), FHA & Conventional Fallout, Blanket Loans/Cross Collateralize Properties, Debt Consolidation, Discounted Mortgage Payoffs and Settlements, Payoff Credit Cards, Payoff Delinquent Property Taxes, Property Tax Deed Sales, Payoff IRS/State/County Liens, Payoff Judgments, Bankruptcy Buyout, Purchase Additional Investment Properties, Working Capital, Settle Credit Card Balances and/or Collections, Foreclosure Bailout (case by case) or you just want to get some cash out.

LOAN DOCUMENTATION:

  • Full Documentation: Required for a large majority of the loan transactions.
  • Lite Documentation: Single Family Investment and Multi-Family Investment properties for Tampa Bay surrounding area and South Florida.
  • No Ratio: Single Family Investment and Multi-Family Investment properties in Florida.

OCCUPANCY TYPE:

  • Owner-Occupied Residential: Full Documentation ONLY. The Debt To Income Ratio must be below 50% (Ex. You make $4000/month gross, then your payment for Principal, Interest, Taxes, Insurance, Credit Card Payments, Installment Loans, Student Loans, Child Support, etc. cannot be great than $2000/month). A lower Debt To Income Ratio may be required, depending upon your gross monthly income. Escrow accounts MUST be set up for Property Taxes and Homeowners/Flood Insurance.
  • Second Home: A bona fide Second Home. Must make sense as a secondary residence (distance from primary, resort, waterfront, lakefront, etc.)  
  • Non-Owner-Occupied/Investment Properties: Residential properties used strictly for investment/business purposes.
  • Non-Owner-Occupied and Owner-Occupied Commercial: Commercial property used for investment/business purposes or Owner-Occupied business purposes. 

SPECIALITY LOANS:

  • Land/Lot/Acreage/Farmland Loans: Up to 50% maximum loan to value, MUST own a primary residence with a minimum of 50% equity, a first mortgage lien will be placed on the land/lot/acreage AND a junior lien will be placed on the borrower's primary residence. The maximum loan amount is $100,000.00. The loan proceeds can ONLY be used for debt consolidation or bona fide payoffs, which must be paid for at the closing. A maximum of $1000.00 will be directly disbursed to the borrower at closing. There is absolutely NO flexibility to this loan structure.

THINGS WE DON'T DO: Second Mortgages, Personal Loans, ARV ( After Repair Value), Credit Lines, Home Equity Line of Credit, Business Loans or Un-Secured Real Estate Loans.