LOAN PROGRAMS

Terms 


Relative Lending has two loan options for you to choose from.

• One-Year Term at 13% plus 3% (points) origination fee
  
• Six-month Term at 13% plus 2% (points) origination fee
  

Most loans require interest-only payments
Some loans might qualify for deferred payments (One payment at the end of the term)

Other Loan Expenses not charged by Relative Lending:

• Title Insurance
• Title Company Fees
• Survey (an old survey is usually acceptable)
• Property insurance is required if there is a structure on the property.
• Loan Documents usually cost $400, but sometimes can be more depending on complexity of Loan

Relative Lending can give you a good estimate of your cost right away.

Loan to Value

LOAN TO VALUE (LTV) one of the most frequently asked question when making a loan is what is the amount of Loan (percentage) will the lender make as a ratio to the value of the property borrowed against.  There is no one number (LTV) that can be used across the board on every loan.  If we really like the property and the borrower we might loan 90%, if not we might loan only 50% of value or not at all.  An average LTV would be around 75%.  Mike and Larry make their own judgments of value and quite often do not require an appraisal because they do their own at no cost to the borrower.   Sometime if they cannot determine value or the borrower asks for a higher LTV then we will require and outside appraisal.

Loan Limits

Minimum Loan Amount $50,000
Maximum Loan Amount $2,000,000

GET STARTED NOW!

Or Call  713.662.9000