Challenge
Property located in secondary market
DSCR below 1.00x
Accommodation
$3.3MM Bridge loan
75% LTV
Creative repayment method utilizing payment reserve
Challenge
Lack of Financial Statements
APN has not been assigned
Accommodation
$735k Land loan
50% LTV
$600k Cash out
Challenge
Guarantors have weak net worth with very limited cash reserve
Complicated ownership structure
Fair credit scores
Accommodation
$1M bridge loan
Closed within 28 days
Challenge
Construction plans and budget were not finalized prior to approval
Appraisal came back lower than expected, limited project profitability
Accommodation
$3.09 MM Ground-up Construction Loan
$774K Mezzanine loan
75% LTC / 88% LTV
Challenge
Borrower has limited liquidity and cash flow
DSCR below 1.00x
Accommodation
$1.19 MM Bridge Loan
70% LTV
Challenge
Lack of borrower’s financial statement
DSCR below 1.00x
Accommodation
$521K Bridge Loan
Creative repayment method utilizing payment reserve
Challenge
Rural-suburban area
DSCR below 1.00x
Accommodation
$2.4 MM Land Loan
Creative repayment method utilizing payment reserve
Challenge
No tax returns or financial statements
Fair credit score
Accommodation
$2.7 MM Bridge Loan
71% LTV