LOANS
OVERVIEW
T3F loans are primarily asset-based loans secured by first mortgage residential and/or commercial real estate. We target loans between $200,000 and $2,000,000. Larger loan applications are also welcome. We underwrite commercial loans in New York, New Jersey, Connecticut and Pennsylvania.
LOAN CRITERIA
Our standard loans range from 200,000$ to 2,000,000 with a maximum 65% loan-to-value (LTV). Larger loans are available for credit worthy borrowers, lower LTV, primary location with a clear and viable exit strategy. Our loans are principally secured by first mortgage residential and/or commercial real estate. Though our loans are primarily asset based, credit reports are required. Second mortgage loans are available on highly selective basis.
LOAN PRODUCTS
We provide first mortgage commercial loans for single/multi-family and mixed-use properties, acquisition, construction, ground-up or renovation and bridge loans. We also provide specialty financing such as partnership buyouts and immediate business finance needs secured by commercial property. Second mortgage loans are available on a highly selective basis.
LOAN TERMS & RATES
- Standard term: 1 year
- Interest rate: 11.5% to 13% depending on Loan-to Value, borrower’s credit, cash flow and loan type.
- Points: 2% to 4% depending on a variety of factors.
- Interest payments are paid monthly.
- Full or partial interest reserve available on select loans in order to help the borrower maintain current monthly interest payments.
- Optional loan extensions on loans in good standing in stable market conditions. (extension fees may apply).