Escrow: All escrow fees and expenses are paid by borrower
Recourse:
Yes, all that is allowable by law.
Prepayment: Usually no prepayment penalty
Extension Fees: 1 to 1.75 points
Assumption Fees: 1 to 1.5%
Assumption: Loans not in default may be considered for assumption at the sole discretion
of the lender.
Closing:
Approximately two to four weeks from lender receiving a completed loan package
and acceptance of property value.
Extension Fees: 1 to 1.75 points.
Term: Up to 12 months with allowable extensions if loan is not in default, at
the discretion of the lender.
Loan to Value:
Up to 75%
Interest Rate:
8 to 14%
Points: 2 to 4.5 points
Origination Fees:
2%
Location: State of California
Lender: High return on funds over a short term
Borrower: Lower ultimate cost of money
Multi-Family
Retail
Office
Industrial/Warehouse
Land – at any stage of entitlement
Type of Security:
RTS Financial Corporation
Typical Terms of Private Money Loans
Available Through RTS Financial Corporation
Ray T. Sparling, President
RTS Financial Corporation
P.O. Box 1489
Rancho Santa Fe, CA 92067-1489
Loan Strategy:
