Avatar's Blog

» 1st Lien, 2nd Lien

Posted on 10/16/2004
Avatar's rates are among the lowest in hard money comemrcial bridge lending. In exchange for excellent rates, Avatar must be in the first position when providing a hard money loan and will provide up to 65% LTV on an incoming producing property. As the borrower, you are required to have 20% in your own property to obtain that loan. If you need more cash, take an additional 15% from a hard money lender who is willing to take a second lien position at a higher rate, rather than trying to find a single lender to give you the entire 80% LTV in one loan. It will probably cost less to split the loan.
Posted in Miscellaneous