Allied Financial Services, Inc

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CONSTRUCTION LOAN- Residential.

 

  1. PROGRAMS:  (a) New constructions and Rehabilitation.

 

     

Type of Borrower

 

Spec

Applicants building for resale or investment

Custom

Applicant hiring a builder to build their home

Owner

Owner acting as their own general contractor- no contractor’s license needed.

Loan Parameters

 

Loan Limit       

$50,000.00 to $600,000.00

Credit Score

Minimum middle score 540

Loan to value  

up to 100%

Term

6-9 months

Rates 

4.99 to  9.99 –subject to change , call to verify

Lender’s loan fee

2% of loan amount

Broker’s fee

1-5% of loan amount [ depending on loan amount and other factors]

First payment due

Approx. 105 days from loan Closing - 105 days interest hold back from loan.

Property Type

SFR, Duplex- steel framed, stick built or modular

Acreage

maximum 5 acre per building lot

Permanent Loan

UP TO 40 YEARS TERMS WITH MIDDLE  CREDIT SCORE OF  580 AND ABOVE

Subject to : 

Investor’s Appraisal review, builder and construction budget approvals.

 

                                  

Highlights: FOR CONSTR. LOAN.

 

Ø      No income verification

Ø      No asset verification

Ø      No seasoning or tracking of funds to close

Ø      No pre-payment penalty

Ø      No reserve requirement

Ø      No debt ratio calculation

 

 Terms and conditions subject to changes and may vary for construction and also rehab. Projects.

 

Call:   Ronnie (540) 785-9902 to request a basic short loan application form and update to this program.

 

                              

 

 2.  CONSTRUCTION LOAN - COMMERCIAL

          

 

HIGHLIGHTS:

 Creative Financing for your projects.

 

1ST. REFINANCE, 2ND. , CONSTRUCTION/ PERMANENT.

 

v     Neither sourcing nor seasoning of down payment plans.

v     No 4506

v     Seller’s 2nd. Mortgages are allowed

v    Up 90% LTV - based on the completed value

v     Or up to 95% Loan-to-Cost (LTC).

v     We welcome Bank rejects.

 

 

3.  CHURCHES & OTHER NON-PROFITS ENTITIES:

 

 

Ø      Minimum Loan $100,000

Ø      No Prepayment Penalty

Ø      No personal Guarantee

Ø      Amortization to 25 years

Ø      Interest only payment during construction

Ø      Loan to Value (75 – 100) %

Ø      Cash flow 1.5 times debt service.

 

(540) 785-9902      Fax: 1-866-515-4009      E-Mail: alliedfs@live.com

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