INTEREST-ONLY BRIDGE LOANS

HARD MONEY & BRIDGE LENDING TERMS

PROPERTY TYPES: All property types considered, except owner-occupied residential

LENDING AREA: Northeastern and Mid-Atlantic USA focused, but will consider all major cities nationally

LOAN SIZE: From $150,000 to $5,000,000

LOAN TERM: 12 to 36 months

AMORTIZATION: Interest only

INTEREST RATE: 8.99% – 11.99%

LOAN-TO-VALUE: Up to 65%*

ORIGINATION FEE: 1% – 2% of the loan amount

PREPAYMENT PENALTY: No prepayment penalty, although typically a short interest guarantee

RECOURSE: Typically, there will be recourse to Sponsors

EXPENSE DEPOSIT: Adequate to cover third-party reports, legal fees, and customary expenses

CLOSING TIME: Typically within 10 business days

* Stormfield’s “Fix & Flip” Loan Program provides up to 85% of the purchase price, and 100% of the renovation costs, up to 65% of the after-repair value