HARD EQUITY INVESTOR PROGRAM

Effective October 1, 2007

All loans are first position only.  We typically will lend from Homestead to Ft Pierce.  Most residential rates are 14-15%.  All loans are subject to credit review, inspection, clear, marketable and insurable title.  We are primarily focusing on SFH/MFH with other properties considered on a case by case basis.

Residential

SFH, Duplex, Triplex, 4-plex

• 65% LTV max

Condos

• Will be considered on a case by case basis and subject to review of comparable recent sales, condo rules, and further due diligence.  50% LTV max.

5 units and above

• 60-65% LTV
• Need to see rent rolls.
• Subject to physical inspection & clear title

Other commercial properties/strip centers

• 60-65% LTV
• Lender may require survey and/or Phase One Environmental and appraisal

Luxury SFH

• 60% LTV max.
• Borrower will need to have some money in the deal and may be requiredto show proof of funds for renovations and/or carrying costs.

In most cases we can finance 90% of your purchase price as long as we do not go over our max LTV?s.  

We reserve the right to require survey and or appraisals on any deal.  In certain cases a phase-one environmental, mold, or other inspections may be required.  

Sufficient equity and/or credit required or higher rates & points may be charged.