Avatar's Blog
» Avatar Offers Bridge Loans at Lower Rates
Avatar Financial Group annouces a NEW LENDING PROGRAM for the purchase or refinance of commercial properties. For buyers who are bank-qualified, but the bank can't move fast enough, Avatar offers COMMERCIAL BRIDGE LOANS at 9.99% and 3 pts.
Borrowers seek hard money loans for many reasons. Until now, those who need hard money for the 'best of reasons' - because there is an excellent deal that won't wait for a bank or conventional lender to get around to funding - have had to pay standard hard money rates for the term of their loan.
Today, Avatar Financial Group launched a new program to cater to the -need-it-now, bank-qualified market. At 9.99% and 3 pts, Avatar has significantly lowered the cost of commecial bridge loans for these buyers. Credit scores of 600 or better are required. The maximum LTV is 65% of the purchase price of the building. If used for a refi, "value" is defined as the price one could reasonably expect to get if the property had to be sold in three months or less. Debt service requirements are 1.2 for trailing 12 months. For more information call 888-886-0097 Pacific business hours.
