Private Leanding Data Intake

Private Lending Terms

Lender:

Mike Richards | 781-953-1668 | [email protected]

Location:

Property must be located in Middlesex County or Essex County, Massachusetts

Interest Rate:

12%

Origination Points:

2 Points

Loan Amount:

Max $1,000,000 per project

Term:

Max One-Year (Will consider excess of one year for new construction)

Loan to Value:

Max LTV 80% (Will provide 100% plus construction costs with additional non-owner occupied collateral.)

Payment:

No payments required until loan maturity. No prepayment penalty.

Proeprty Type:

1-4 Unit Residential Properties | Townhouse | Condo | Mixed-Use

Owner Occupied:

Not allowed

Income/Credit:

Not Required | Asset Lending Only for Non-Owner Occupied Properties

Personal Guarantee:

Required

Closing Speed:

Ability to Close in ten days.

Upfront Fee ($725):

Title Search: $175 | MLC: $50 | Appraisal (if required): $500

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