LOAN TERMS AND FEES |
| LOAN TERRITORY | Fredericksburg, Virginia (includes Stafford, Spotsylvania, King George and Culpeper) |
| PROPERTY TYPE | - Residential, non-owner occupied - No condos or mobile homes |
| LIEN POSITION | First position only |
| LOAN TERM | 6 months, can be extended on a case-by-case basis |
| LOAN TO VALUE | Up to 65% of 'After Repair Value' |
| INTEREST RATE | 1.04% - 1.21% monthly (12.5% - 14.5% annualized) |
| POINTS | 5 points, due at closing |
| RESERVE FUND | - 100% of rehab estimate - Funds advanced in 1-3 draws |
| APPRAISAL / INSPECTION | - $350-$500 - Appraiser, Inspector selected by Edgeworth Private Lending |
| APPLICATION FEE | - $20 per borrower |
| TITLE SEARCH FEE | - $150 |
| REPAYMENT | - Monthly interest-only payments - No pre-payment penalty |
| GUARANTEE | Personal guarantee required |
| BORROWER CREDIT | - Minimum score of 640 required - Bank statements required at application |
| LOAN CLOSING | - Closing attorney selected by Edgeworth Private Lending - Fees determined by attorney but are generally around 3% of the purchase price |
INSURANCE | - Title insurance and hazard insurance required at closing - Must use our 'Builder's Risk' provider |