Copyright 2006-2010 Elite Financial Group, LLC. All Rights Reserved.
ELITE FINANCIAL GROUP
Specialty Finance Company
Loan Program Overview
Elite Financial Group, LLC specializes in funding short-term (1 year) investment real estate loans. Typical Elite projects including property flips, renovations, construction, development, build-outs, conversions, business startups, partner buyouts, consolidation and much more. If your project can be sold or refinanced within one year, Elite Financial Group will work with you to find a solution. Our loans fund quicker than other lending institutions saving you time, saving you money and enabling you to bid on projects first. We have a significant amount of experience in putting together difficult financial transactions. We also use creative financing to find solutions for our borrowers' needs while protecting the interests of our investors.
We require strong collateral, which can be the property you are borrowing against as well as any other form of real estate that is not the borrower's primary residence. If that property does not meet our loan-to-value requirements, we can often cross-collateralize a second property to meet our underwriting guidelines.
Once we receive your Loan Application, Elite can be ready for settlement in 7-14 days. If your client's scenario requires a quicker settlement, out staff is ready to work around the clock to make a deal happen.
Preferred Loan Size: $50,000 - $3,000,000
Collateral: Secured by subject property real estate; secondary properties if needed. First Deed of Trust position.
Loan Structure: Loan amounts can be up to 70% of the quick sale value and can be based off of improved value if loan is used for renovation or construction. Loan can also be disbursed in draws (stages)
Prepayment: Loans may be paid off at any time without penalty.
Rates: Interest rates vary based on credit ability and scenario. All payments are interest only.
Points: Between 5-10 points charged based on project risk/time.
Term: Flexible loan terms up to a year.
Use of Loan: Business purposes only.
