Bridge Loan established in two parts then merged into one:

• Land – 60% LTV
• Construction – 70% LTV (Completed Value)

Terms:

• 9% to 13% interest (paid only on drawn amount)
• 3 to 7 points (longer term = higher points)

Approval:

• Initial approval 3 – 5 days
• Final approval and commitment requires full due diligence and MAI appraisal (Land and Development)

Exit Strategy:

• None – Broker/Borrower must establish