Services & Fees
INVESTMENT PROPERTIES ONLY / BRIDGE LOANS
The following is a general guide of our LTV, rate, term and fees. These figures are subject to change. Please contact Chris Cory directly for a detailed quote / loan proposal.
LOAN TO VALUE RATIO: Up to 65% MAXIMUM on select properties.
SERVICE AREA: Broward County, North Miami-Dade County and South Palm Beach County
PRE-PAYMENT PENALTY: NO
INTEREST RATE: 8% to 12% fixed depending on numerous factors, such as; the property location, property condition, loan size and balloon term. All loans are Interest only.
Application fee: $100 (required for a loan proposal)
Lender Inspection fee: $150 or higher depending on the property size & location
Lender Loan Origination fee: $2%-4% depending on the property, balloon, and loan size
Lender Processing fee: up to $500
Lender Document Preparation fee: up to $500
Lender Attorney review fee: Depends on the complexity of the transaction
BRIDGE LOANS HAVE A BALLOON PAYMENT: 12 to 24 month balloons. Your interest rate and fees will be higher with a longer balloon term. Our typical investor bridge loan term is 12 months. There are no prepayment penalties.
APPRAISALS: We require an appraisal on all loans. All appraisals must be performed by 1st Appraisal Services, Hollywood, Florida (954) 966-4477. Appraisal fees typically range between $350 and $450.
NATIONWIDE MORTGAGE LICENSING SYSTEM / LICENSE NUMBERS
CDC Financial Corp. : NMLS 381082
Chris Cory : NMLS 368933