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Information About Our Loans

Requirements of the property:

  • Non-owner occupied New Hampshire properties only
  • First mortgages only
  • Single family or multi-family residential properties
  • flips or rentals
  • minor or major rehabs

Characteristics of the loan:

  • Minimum loan amount¬†$50K.
  • The maximum loan-to-value ratio (LTV) for our loans is 65% of the ARV (after repaired value).
    • Up to 65% of the lower of purchase price or appraised value can be disbursed at closing.
    • The remaining portion of the loan amount can be disbursed in up to 4 construction draws after each increment of rehab funds are expended.
  • Typical loan term is 1 year with no prepayment penalty.
  • Loan payments are typically interest-only with a balloon payment at the end of the loan term.
  • Interest rate is typically 12% for loans under $500K, 10% for loans above $500K.
  • Typically 2¬†points upfront.
  • We can usually close within 2 weeks, often even faster.

Disclosures:

  • Non-payment or late payment: Payments not made according to the loan terms may result in your loss of the property through foreclosure.
  • We will not make a loan unless we estimate that you can cover your expenses and make a decent profit on the deal. We want you to be happy with the results.
  • These loans are non-renewable. The outstanding balance of your loan will be due and payable at the end of the loan term.
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