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100% funding, no payments for up to 2 years, 5.5-9.5 Interest rates!!!
Posted by: Kevin Ward on 4/6/2010 4:53:08 PM
Funding Available:
Above $1mil
Category:
Real Estate / Construction
Website :
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Location :
USA
Viewed : 2802 times
Favorited : 16 times
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Description:
Spartacus Partners announces our Unique Funding Program (UFP)
- INTEREST ONLY funds available for Construction, Business Acquisition, Project Funding, etc.
- 100% financing with rates at 5.50%-9.5%, for all transaction types.
- NO - down payment, only interest reserve into escrow

1. Office
2. Student Housing
3. Healthcare properties
4. Hotels
5. Multifamily
6. Retail
7. Industrial
8. Restaurants
9. Night Clubs
10. Green Projects

• To qualify the client must have a minimum of 10% in cash available to be placed in UFP facilitating Attorney escrow trust account.
• 10% due at contract signing –Held as prepaid interest reserve
• Draw down schedule
• No application fee, due diligence fee or pre-closing fees
• Timing for Closing: 60-120 days from approval of application.
• Legal Services: Outside counsel selected by UFP and paid by Borrower. All fees and points paid out of closing proceeds.
• Third-Party Reports: Not required for funding
• Recourse: Negotiable; Carve-out provisions always apply
• Balloon payment at end of term – up to 10 years.


AT CLOSING

-- 4 pts origination fee + 2 pts total consulting fees allowed (total of 6 pts) – paid from closing proceeds
-- Consulting/Broker fees paid from closing proceeds
-- No upfront fees – all legal and other lender-associated expenses paid out of closing proceeds
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