General Terms and Loan Cost
Greenbriar Lending is a great choice for financing your next short term real estate investment flip. As a private direct lender, we work with you to tailor your financing to your specific needs. Our underwriting criteria is based primarily on the property being purchased, so you avoid the extensive paperwork and personal financial information usually required by banks and mortgage companies. We are quick and nimble for you, so you can get your deal closed without normal banker headaches.
Our basic loan criteria are:
- LTV (Loan to Value) up to 80% of After Repaired Value
- 12 month balloon
- Rates and origination fees vary depending on the deal particulars
- NO application fee
- One time commitment fee due with executed term sheet
- NO Appraisal fee
- NO Inspection fee’s
- Origination Fee varies based on deal particulars
- Closing available within 5 days of approval
- No survey or termite report required
- No pre-payment penalty
- Loan amounts from $50,000 to $1,000,000+
- No employment verification
- No minimum credit score requirement
- No income verification (no W-2’s, pay stubs or tax returns)
- A GOOD DEAL!
- Builders Risk Hazard Insurance Required (we are happy to provide this for you if necessary)
- Scope of Work
- LLC Documentation
- Your Contract
If applicable, funds for your renovation are withheld from the loan proceeds and funded upon completion of repairs. We now offer renovation draws with NO wire fees and NO inspection fees. If you know how to operate a smart phone properly, you can save us time. Saving us time saves YOU money. We ask all our borrowers to place a combo box on the home so we can check and see how things are coming along. At Greenbriar Lending, we want to be your capital partner. It’s our goal to make your renovation and applicable draws, as quick and easy as possible.
Have a deal? The next step is easy! Apply now or drop us an email. We are eager to evaluate your deal and provide you with a framework of what we can do.