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Construction Loan Programs
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Magna Capital Group, Inc. is primarily a LTV driven lender. Maximum LTV is typically 50% to 65%. Additional collateral may by used under certain circumstances to offset LTV requirements. We place significant weight on the acquisition cost of the property, plus estimated repair/completion costs, when determining the current value of the project. These �costs� are generally used as the value of the collateral when calculating the LTV, making loan to cost and loan to value potentially one in the same.
Project Types
� Owner Contractor
� Fully Entitled Lands Preferred
� Land Development
Borrower Types
� Individual
� Trust and Estate
� LLC, Corporations and Partnerships
Loan Purpose
� Any Investment or Business Purpose Loan
Guidelines
� Close in as little as 7 business days
� Credit – no requirements
� No income verification
� Borrower must have a realistic plan for repayment
� Purchase, REFI or cash out
� Loan amounts from $200,000 to $10,000,000
� Foreclosures, NOD's, Bankruptcy and Bad Credit OK
Pricing / Terms
� Term - Typically 1 to 5 years, interest only
� Rate - Typically 8% to 14%
� 1st & 2nd Mortgages (case by case)
Property Type / Condition
� All property types considered
� Any Condition
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Magna Capital Group, Inc™ 2011 | California DRE License # 01866646 | Nevada DRE License # RE.1450801 | NMLS ID # 342925
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