Looking for projects within the following parameters: Asset Based, No Credit Requirements $1m to $90M-In House Funds Location: Primary & secondary markets,nationwide (48 states) Bridge Lending,Construction, Acquisition,Refinance Security: 1st mortgage bridge loan Property Types: office,retail,multi-family,industrial,land,hospitality,hotels/motels etc.. Horizon: 12,18,24 36 months Rates: 9-12% LTV: 50% (may go to 60% for stronger projects) No Pre Payment Penalty Interest Only option You…See More
Closing: 30-60 days after we receive all required documents and Due Diligence is complete.
Cash Required: 1-10% for all projects ( see below)
Due Diligence Fees: $50,000 US/$100,000 International
Our process is simple:
1) We will issue a commitment to fund if we are interested in moving forward. After which 10% of loan amount will be required as a down payment. 1% will be put into our designated third party escrow company for our Due Diligence. The remaining 9% can be put into escrow either with our designated escrow company, our escrow attorney or Chicago Title. The 9% must be put into escrow by the scheduled closing date which will be 30-60 days after opening of escrow.
2) You will then receive a list of required items needed to close. Everything will be handled by our attorney expeditiously.
3) After all items required to close have been received, we then schedule a closing through our attorney and yours. The remaining 9% will be due on or before the scheduled closing date which will be advised upfront.
4) Again this program has been set up for serious borrowers who understand private financing. It is not for all borrowers. If you have no liquid cash to commit, do not apply.
5) Now offering a rate buy down! If you have more cash to apply towards funding, you can receive a lower rate!
Brokers are Always Welcomed and Protected. Brokers receive anywhere from 1/2 point up to 2 points. maximum for every referred project that closes depending on the loan amount.
Submit your projects to: email@example.com
I will respond within 24 hours if we are interested.
Now Hiring Consultants Nationwide!
Phoenix Capital Funding Group, LLC
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Large Investor =>100K, Commercial Lender, Hard Money Lender, Direct Lender, Open Networker, Old Salt, Other (see below)