HARD MONEY - Purchase/Rehab & New Construction

[Copelon Kirklin]

Purchase & Rehab

• Up to 65% ARV
• 20% in the deal from the borrower (will lend 80% of purchase/repairs)
• Rates 12/13%
• Points determined by location
• 13 month term
• No pre payment penalty
• 630 required
• 7 day closings
• Loan amounts from 25k and up
• Available in AL, CO, CT, DC, FL, GA, IL, IN, KS, KY, LA, MD, MA, MI, MO, NE, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WA, WV AND WI

New Construction

• Same terms as above
• Land can be used for down payment if owned free and clear
• If using free and clear land, purchase price has to be 20% of loan amount
• If free and clear land purchase price is less than 20%, need cash to cover difference