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Builder Loan Solutions
Since 2009, Dan Cassel and the Trinity Mortgage Broker team have been committed to helping Investors, Families, and Builders to achieve their Real Estate Dreams, as we navigate the often confusing world of Real Estate Loans.
We help leverage Borrower Real Estate Equity and Investment Loan needs, with good communication, solid technology, expertise, and the “Common Sense” to deliver several specific, quick, reliable, loan products for both SFRs and/or Multifamily projects.
We have also benefited from long term “Real Estate Lender” relationships and use various loan products that save our borrowers of all experience levels both time and money. These factors allow us to deliver a full range of well priced Investor-Builder and Family Real Estate and Business Loan products.
We offer various product lines. Construction and Fix and Flip loan products, are often strictly for more experienced “Professionals” actively building. We can offer those qualified Builders or Investors up to a 10 Million Dollar Line of Credit OAC!! (LOC) The Rates are also fixed for up to 1 year!
This money can be used for Fix and Flip Real Estate deals and New Construction.
We place and fund both Bank or Non-Bank Construction Loans. Most loans typically ready to begin with up to the lesser of 75% of Loan to value or loan to construction/LTC and go upwards up to 95% of the Construction Budget, depending on the desired cost of money sought.
There are all sorts of methods for determining the down but ultimately it seems a good number to build is 25% equity or more. And generally some loan contingency and interest reserves are common of course. The lender generally wants to know that if your project is delayed for any reason, that there are adequate Borrower/Entity reserves.
RE: Land-Often we start and buy out existing land Private Money Land loan’s to 75% LTV and set up the ground up construction loan. We do finance Land or “Lots”, -mostly to 50% LTV-non rural.
We generally place loans on “Ready to build” Multifamily and Residential homes, generally up to 20 units in California and the Western US. So the line cannot be used on other deals.
Please note: We are often able to close these loans in 30 days or less once we have all the documentation/Plans/permits and the LOI.
Our Construction loan sources typically offer our Borrowers Letters of Interest (LOI) within 72 hours of application and prior to final approval of course. We all review the loan terms and any required up-front fees to review plans, applications, and supporting documents. Our Loan knowledge saves our clients money and we look forward to the opportunity.
PORTFOLIO RENTAL LOANS-
With current equity positions possibly at their peak, now is a great time for Real Estate Investors to "improve their game" to retain wealth. Dan offer's many Investment Loan products on single or multiple rental properties. We can even use lite documentation and we understand the issues when you are slow at selling your RE and need to put one or two properties into a lease for 1 year or 2. Here are a few samples:
Asset Types SFR, Condo, Town-home, 2-4 Unit & 5-50 unit apartments (Larger Apartments on exception basis)
Max LTV generally 75%
Interest Rates- 5.50%-6.75%
Minimum DSCR 1.20 x (1.25 x for loans under $1 m) Ask about our No "Debt Servicing Coverage Ratio" Loans too!
Term Options- 5 year, 7 year 10 year Balloons Yield Maintenance Up to last 6 months of term
Amortization Options- 20, 25 & 30 year terms
Interest Only? Yes but it may affect the Loan to Value.
Yes- Foreign Nationals OK?
Yes- Delaware SPE LLC?
Yes- Required Expense Deposit?
Yes – 2 months of Taxes, Insurance,
Condo Types? Non-Warrantable & Condo Conversions likely OK