Term | 1 – 12 months |
Payments | Monthly interest-only payments |
Loan-to-Value | Loan amounts can be 50% to 70% of the market value of the collateral. |
Interest Rate | Rates vary from 12% - 15% per annum. |
Loan Points | Points Vary: 4 – 6 |
Collateral | 1st Lien Commercial real estate and non-owner occupied residential |
Costs | Borrower is responsible for all legal, closing and other out of pocket expenses. |