Summary of Fort Brooke Loan Program
TERM:
12 to 24 month term with a 12 month extension for a fee.
Minimal PREPAYMENT PENALTY:
Loans may be repaid at any time without penalty after 6 to 12 months.
USE OF PROCEEDS:
Loans are made for investment business purposes only.
LOAN TO VALUE:
Loan amounts can be up to 65% to 87% of the market "As Is" value of the Collateral.
RATES:
Rates vary from 12.0% to 15.0% per annum, interest only, depending upon collateral and loan structure.
LOAN FEE:
In lieu of equity participation, a fee or points of 5.0% of the loan amount will be included in the loan. Third party brokerage fees not included.
LOAN SIZE:
From $20,000 to $500,000. Loans in excess of $500,000 value will be considered on a case by case basis by our commercial department.
COLLATERAL:
Real estate and other fixed or liquid assets. Properties can be Single Family Investment or Commercial. No owner Occupied homes.
APPROVAL REQUIREMENT:
• 35% Cash down
• Completed application
“Bringing Service and Integrity to the Hard Money Business”
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