Residential Development Financing
Due to the current housing conditions in the United States and other countries very few lenders are financing Residential Development. It doesn't matter how much of a down payment the developer is willing to put on the loan, they still will not touch it.
BUT. ...... We have a lender who will !!!!!!
International Financing Solutions & ACT Global Financing have a lender based in the United Kingdom who is financing Residential Development in the United States, Central America and the Caribbean. Their belief is that the worst of the housing crisis is over and because of the conversion factor of US Dollars to the British Pound, it is well worth their investment.
As of this writing we have a few of these loans in the works for funding and we can add your project to the group. The minimum loan amount for these projects is $50 Million USD and has no upward limit. The financing will cover 100% LTC and up to 80%LTV of the finished product.
General Guidelines:
- 100% LTC with 80% LTV of finished product
- Minimum Loan amount of $50 Million
- Available in the Americas (North, South, Central and the Caribbean)
- Interest Rate is LIBOR + 2%
- Interest Reserve for 24 months
- Loan Term from 2 to 5 years (depends on build-out schedule of project)
- Must have a ‘Green" or "Humanitarian" component
- Requires a Retainer fee of $35,000 paid to the Lender/Gate Keeper
- Pre-Sales are no mandatory if developer has a feasibility study
- Most Closing Costs can be added into the loan
This program is designed for the development of a single family residences, condominiums or multi-family. Mixed use developments are eligible also.
This is one of the FEW lenders who is currently funding Residential Developments.
For more information contact:
Sean Allen
239-898-9281
sallen11867@aol.com
Please be advised that Rates, Terms and Conditions of the financing program can change
at any time without notice.
