Wiseman Capital Group is catching the hard money industry off guard by starting a new lending program that does not have any upfront or commitment fees. The bridge loan product is designed to help clients with fast closings and who do not want to be bothered with lots of paperwork. Lending decisions we will rely on the strength of the subject property. As long as the client has a viable exit strategy in place then a loan can be made. Commitments to lend will usually be made within 24 hours once a file has been submitted.
The new streamlined program will offer loans between $100,000 to $1.5MM. With a maximum loan to value of 50% on most property types clients will be given the option of either choosing a one year interest only term loan or they can opt for a five year interest only loan until the loan becomes due. Rates and points will vary. Once the preliminary documentation is received and processed clients can expect to close and fund their loans within 7 to 10 day business days if not sooner.
Wiseman Capital is currently accepting loan applications for properties located in Delaware, Maryland, District of Columbia, Virginia, North Carolina, South Carolina, Georgia and Florida.
For more information please visit http://www.wisemancapitalgroup.com
