What is the interest rate and loan term? Usually, loan rates are 9% and 1.75% points. Loan terms are 12-36 months
What is the loan type? Most our loans are interest only, which means a fixed interest is paid throughout the term and full balance at maturity. For example, a $100,000 with 12 months term and 9% rate will yield 12 monthly payments of $750 and a final payment of $100,000
What happens if I sell the property or prepay the loan before maturity? In most of our loans there is no prepayment penalty.
This is not an offer for extension of credit nor a commitment to lend. Programs, rates, terms, and conditions subject to change without notice. Certain restrictions may apply. All approvals subject to underwriting guidelines. Not all applicants will quialify.