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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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