|
Real Estate Lending from Slavie
Slavie is pleased to announce that Mike Tagg has joined the Slavie team. Mike brings a wealth of experience in real estate lending. His experience with the following areas:
- Acquisition and renovation programs for investors
- Income producing residential and commercial permanent loans
- Land acquisition
- Land acquisition with development and/or construction
Slavie Federal Savings Bank offers a wide range of products to assist investors, builders and developers with their various financial needs. These products can be tailored to meet your specific strategies.
To discuss your current financial goals, strategies and the various products Slavie has to offer, please contact:
Michael Tagg
Vice President of Commercial Lending
410-444-5555 x3112 –office
443-756-5554-cell
m.tagg@slavie.com.
Acquisition and Renovation Lending
This program is designed for clients who are looking to acquire, renovate and sell residential and/or commercial properties.
*80% of the acquisition price or “as is” appraised value, whichever is less, plus 100% of the cost to renovate as long as the total loan amount does not exceed 80% of the “after repair” appraised value;
*Limited Liability Companies, S Corporations and C Corporations allowed;
*Loan term is 1 year;
*Attractive floating interest rates, tied to the WSJ Prime;
*Interest charged only on amount disbursed and paid monthly;
Acquisition, Renovation and Permanent Lending
This program is designed for clients who are looking to acquire, renovate and hold for income producing purposes residential and/or commercial properties.
*80% of the acquisition price or “as is” appraised value, whichever is less, plus 100% of the cost to renovate as long as the total loan amount does not exceed 80% of the “after repair” appraised value;
*Limited Liability Companies, S Corporations and C Corporations allowed;
*One time closing on both renovation and permanent loan;
*Fixed or floating rate options are available;
*Renovation loan term is 1 year;
*During construction, floating interest rates, tied to the WSJ Prime;
*During construction, interest charged only on amount disbursed and paid monthly;
*Upon completion of construction, the loan converts to a fully amortizing loan;
*Amortizations as long as 30 years with a 5 year call provision;
Permanent Financing for Residential and/or Commercial
This program is designed for clients who are seeking long term financing for their residential and/or commercial properties.
*Limited Liability Companies, S Corporations and C Corporations allowed;
*Amortizations as long as 30 years with a 5 year call provision;
*Owner Occupied or investor (over 4 units)
*Up to 75%-80% of appraised value or cost of subject property;
Land Acquisition, Acquisition and Development, Acquisition, Development and Construction
This program is for builders and developers who are seeking financing for acquisition, acquisition and development and/or acquisition, development and construction for projects located in the State of Maryland.
*Limited Liability Companies, S Corporations and C Corporations allowed;
*Fixed or floating rate options are available;
*Loan terms available for 12 to 18 months;
*Floating interest rates, tied to the WSJ Prime;
*Interest charged only on amount disbursed and paid monthly;
|
