| Loan Size: |
$2,000,000 to $30,000,000 |
| Pricing: |
Risk-based floating over 1-month LIBOR |
| Amortization: |
Interest only |
| Lender Fee: |
50 to 100 basis points |
| Exit Fee: |
50 to 100 basis points |
| Term: |
Up to 2 years |
| LTV: |
Up to 80% |
| LTC: |
Up to 85% |
| Recourse: |
Full recourse including completion guaranty |
| Reserves: |
Reserves and escrows as required by lender |
| Fee Deposit: |
Application fee and good faith deposit due upon application |
| Legal Fees: |
Typically $12,000 to $25,000 |
| Reports: |
Third party reports, inspecting architect's reports at borrower's expense |
| Draws: |
Through title insurance company |
