Where we lend
- Massachusetts: We lend in the eastern half of Massachusetts from Worcester and immediate western suburbs to points east, and from the Cape Cod Canal north.
- New Hampshire: We lend from Concord south, and occasionally in the Lakes Region.
- We do not lend in other areas
Terms
- First position only, always secured with real estate
- 75-85 % of purchase money and 100% of rehab or construction funds
- 10-12% Simple interest depending on the deal, interest only payments
- 2-3 points, usually paid up front, occasionally we will accrue points and even interest payments until maturity
- Minimum loan $100,000, maximum $1,000,000
- 6-12 month term, depending on the deal
- Up to 70% of ARV
- Must take title in an entity (LLC or Inc.)
- Must close with our title company (in NH) or attorney (in MA)
We do NOT:
- Lend in 2nd position
- Lend on any property intended to be owner occupied
Special Circumstances:
- We will consider cross collateralization in lieu of cash
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