Lending Parameters

  
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 TypePurchase, 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