Brookview Financial


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brookviewPhone:  (203) 230-8500

Address: 2321 Whitney Ave, Hamden, CT 06518

Website: http://www.brookviewfinancial.com/index.php

States They Lend In: Alabama, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Mississippi, Missouri, New Hampshire New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Washington D.C, Wisconsin

 

Rehab Loans

 

PROPERTY TYPE:

Commercial loans on 1 – 4 Family investor properties and small apartment buildings. Larger Commercial loans financed in our Commercial Hard Money Division.

 

LIEN POSITION:

First mortgage only.

 

ADVANCE RATE:

Up to 100% of the purchase and rehab, subject to: (i) a minimum borrower funded reserve of 12.5% of the loan amount and prepaid interest for six months, and (ii) up to a maximum LTV of 65% of the After-Repaired-Value of the property.

 

RENOVATION FUNDS:

Renovation funds are usually advanced in one to three draws, and wired directly to your account. Rehab portion of the loan typically not to exceed 100% of acquisition cost unless otherwise approved.

 

GUARANTEE:

Personal guarantee required.

 

QUALIFYING DOCUMENTS:

Investor Assessment Form

 

LOAN DOCUMENTATION:

Purchase Agreement

Summary of Rehab Work to be Completed

After-Repair-Value Appraisal (Obtained by Brookview)

Title Policy (Obtained by Brookview)

Brookview Deal Submission Form

Pictures of Rehab Property

Home Inspection

3 months of Bank Statements

2 years of Tax Returns

3 Most Recent Paystubs

Signed 4506-T

 

QUICK FUNDING:

Once a borrower has been approved, funding of individual transactions is quick. No need to reapply for subsequent transactions.

 

Commercial Hard Money

 

If you are looking for bridge financing on your commercial property, we can help. Regardless of the project size, Brookview has a vast network of affiliate investors who look for bridge financing opportunities in commercial loans. While there is no dollar limit, loans typically range from $2 to $20 million.

– Short Sales
– Discounted Note Purchases
– Properties Needing Renovations
– Quick Closings
– Apartments/Multi-Family
– Retail
– Warehouse/Industrial
– Hotels
– Office

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