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Equity Funding FAQ's |
Q1.
What types of loans will Equity Funding fund?
Our loans are
generally short term, maturing in 3 months to 3 years. It
is not uncommon, particularly with shorter term loans, to
provide options to extend the due dates. Monthly payments
can be based on interest only or on an amortized basis,
depending on the needs of the borrower. |
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Q2.
Will Equity Funding work with Brokers and Lenders?
Absolutely! Brokers are always welcome and we are happy to
participate in loans with lenders and their investors. |
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Q3.
What types of real property are acceptable for use as
collateral?
Many types of real property are acceptable for use as
collateral including apartment buildings, condominiums,
office buildings, commercial buildings, retail and
shopping malls, marinas, single-family dwellings, and land
(particularly with entitlements in place). Equity Funding
will also consider notes and contracts receivables secured
by the foregoing types of collateral for both loan
purposes and for possible purchases. |
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Q4.
What loan to value ratios are required?
The loan to value ratios required vary depending on the
type of collateral. Generally, Equity Funding will loan
50% of value on land and 70% to 75% of value on improved
property. These ratios can fluctuate depending on such
factors as location, the nature and condition of the
improvements, and the net operating income generated on a
rental basis from the property. |
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Q5.
Is a second lien position acceptable?
Yes. Equity Funding is creative and will consider a number
of different lien positions, provided sufficient equity is
available. |
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Q6.
Are appraisals required on collateral?
Not necessarily. Equity Funding has been doing business
since 1987 and has extensive experience in the valuation
of real estate. As a result we are able to make rapid
decisions regarding the viability of a loan with or
without an appraisal. Even if an appraisal is required,
Equity Funding is often able to fund before the appraisal
can be finished, preventing delays often attributable to
this cause. |
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Q7. Does
Equity Funding make loans for personal use?
No. We only make loans for commercial, business, and investment
purposes. |
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Copyright © 1987
- 2012 Equity Funding. All Rights Reserved.
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