Borrower Criteria

While we do evaluate the individuals behind a development company, and we do require a personal guarantee; unlike a conventional mortgage bank, we can still approve most loans even if the strength of the guarantor is not perfect.

• Minimum of 3 prior development projects completed successfully with HUD-1’s to support purchase and exit
• Minimum Credit Score of 640+ (must provide letter of explanation for lower scores)
• Loans are only made to development legal entity in good standing with the county and state of formation
• Personal guaranty from borrower required
• First liens only
• Loan amounts up to 70% of the After Repaired Value (excluding points & fees)
• 6 month term
• 2 month optional extension (extension fees may apply)
• 12% – 14% interest only payments with balloon at term end
• 3, 4, or 5% origination fee, depending upon loan amount