|Collateral Type:||First Trust Deed (First Mortgage).
Will consider a 2nd Trust Deed on case to case basis.
|Loan Amounts:||$30,000 to $2,000,000|
|Loan Application Approval Process:||Same day approvals in most cases.|
|Location:||Greater Las Vegas area|
|Closing Time:||Typically, 5-10 business days from receipt of application|
|Loan Type||Purchase, Refinance, Bridge, Renovation, Fix & Flip, Land, Cash Out, and Rehab|
|Loan To Value:||Up to 80%|
|Loan To Completed Value:||Up to 80% including renovation costs|
|Interest Rates:||9.0% –12.0% interest only (on First Trust Deeds)|
|Pre-Payment Penalty:||No Pre-payment penalty.|
|Loan Term:||3-36 months|
|Recourse:||Our loans are No Recourse Loans!
A recourse loan holds the borrower financially liable for paying off a loan and allows the lender to collect on the borrower’s assets or pursue legal recourse if a loan goes into default status. In case of a default, we don’t hold the borrower personally liable for the loan.
|Origination Fee:||2.0% of the loan amount (3.0% for loans under $75,000)|
|Closing Costs:||$750 processing fee, and standard third party
costs such as title and escrow
|Appraisal:||No appraisal is necessary in most situations|