asset based, private source CONSTRUCTION LOAN in Boston, Massachusetts For Sale
Type: Houses, For Sale - Private.
We are offering an excellent (private source) NO DOC-NO CREDIT REPORT-ASSET BASED construction loan program for spec residential construction projects, flips of existing homes, and condo conversions.
We offer 100% financing of construction costs. For new construction, LAND FINANCING MAY BE AVAILABLE - TO BE DECIDED ON A CASE BY CASE BASIS. Land financing will usually not exceed 50% of the purchase price of the land. But, a seller second mortgage can often be acceptable up to 100% CLTV of the purchase price of the land. For flips and conversions, the program allows up to 70% LTV purchase financing.
Please note these details:
1. Loans from $100,000 to about $2,000,000;
2. 12-36 month loan term, interest only monthly payments required, 4 month interest guarantee;
3. 15% with 4 pts;
4. Asset based underwriting;
5. Must be non-owner occupied;
6. Must be with a 2 hr drive of Boston; and
7. Easy submissions/reviews, rapid feedback and rapid closings of approved loans.
Please contact me anytime to discuss further.
Regards
Joseph Mottola
Vista Mortgage Corp.
200 Sutton St.
N. Andover MA xxxx5
Ph 978 688 xxxx
jmottola@vistamtgcorp.com
Vista Mortgage Corp. is a mortgage broker. Restrictions apply; rates and terms can change. We arrange, but do not make mortgage loans.