Frequently Asked Questions

What Kind Of Loans Do You Offer

We offer many different kinds of loans and will work with you to find the best one(s) to suit your unique needs and goals.
We offer interest-only for:

• Bridge financing
• Bankruptcy
• Foreclosure workouts
• Partner buyouts
• Unique acquisitions
• Financing of short loan payoff
• Working capital needs
• DIP financing (Debtor in Possession)
• Unstable properties
• Rehab/renovations
• Conforming commercial

We also offer fully amortizing loans (15-, 20-, or 30-year terms) as a mortgage broker.

Are You A Direct Lender?

We are both a direct lender and a commercial mortgage broker.

What Is A Commercial Loan?

Commercial loans are secured (backed) by commercial collateral, such as apartment buildings, offices, strip malls, mixed use and non-owner occupied residential buildings.

Can You Provide Blanket Loans?

Yes! We do offer blanket loans on commercial properties.

Can I Include The Closing Cost In The Loan?

Depending on the equity in the transaction, yes.

Can I Live In The Property While I Rehab It?

We only lend on non-owner-occupied property but still may be able to assist you.

What Kind Of Documentation Is Required?

To get started, we need:

• Photos of the property, including the inside, outside, and the neighbourhood
• Rent rolls, if property is currently rented
• Current signed personal financial statement
• Short executive summary that includes:
• Property type
• Purchase amount/estimated value in refinancing
• Requested loan amount
• Timeframe and exit strategy (refinance, sale, etc.)
• Equity (Please indicate where the balance of funds for this purchase will come from.)

Do You Offer 2nd and 3rd Position Loans?

We only offer first mortgages.

Do You Work With Foreclosures?

Yes, we are very experienced in handling transactions where the borrower is in foreclosure, as long as he/she has enough equity in his/her property to pay off the first lender and have a clean title.

Can We Work With Tax Liens?

Yes. We understand tax liens and have closed numerous transactions with various tax issues. All of the tax issues are typically paid off at closing since we typically cannot close a loan with any material title exceptions.

How Quickly Can I Expect Preliminary Approval?

Great news! If your request is approved, you will receive preliminary approval within 48 hours, and we will send you a Letter of Intent.

In What States Do You Loan?

We are currently focusing on loans in Massachusetts; however, we also lend nationwide as commercial mortgage brokers.

What Is A Hard Money Loan?

A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Interest rates are typically higher than conventional commercial or residential property loans because of the higher risk and shorter duration of the loan.

What Is A Bridge Loan?

A bridge loan is a short-term loan that “bridges” the gap between today’s need for immediate cash and the final closing of a long term financing, recapitalization or sale.

Do Properties Need To Be Seasoned?

Typically, no they do not

What Is Your Debt To Income Ratio Maximum?

Each transaction is unique and the ratio can vary from transaction to transaction.

Do Your Loans Have Pre-Payment Penalties?

Typically, our loans do not have pre-payment penalties.

Do You Fund Rehab Costs Too?

Yes!

Do You Offer Refinancing On Property I Own, Want To Fix Up, and Resell?

Yes. For more information on our Fix and Flip program.

Are There Any Properties That You Will Not Lend On?

We will not lend on churches, gas stations, or any property that could have an environmental concern.

What Are Your Rates?

There is no formal rate matrix since each deal is so unique. We price each deal aggressively based on the individual needs of the client.

How Do I Get Started?

You can get started by filling out our one-page application for a no obligation quote. For a more immediate response, please call us at (508) 559-2477.