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01-04-2022, 05:43 PM #4
Cannabis Real Estate Loan Guidelines...
LTV/LTC Up to 65% LTV, not to exceed 75% LTC. No greater than 50% on land!
Interest rates 9% to 15% interest only
Loan Term 12 to 24 to 36 months; fixed term or renewable.
Also 15-year self-amortizing for stabilized properties
Origination fee 3% to 7% of loan amount depending on the transaction, payable at closing
Add broker fee of 3% which I split with broker and paid at closing
Application fee Fee of $5,000 is due with the accepted and signed Letter of Intent. ($10,000 for new construction)
Minimum loan amount $250,000
I need a 1003 (real estate loan application) PFS and credit report.Last edited by Olderguy; 01-04-2022 at 05:52 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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