Some of the loans closed in 2018
These are just some of the properties that we have financed over the past year. You can see that we finance raw land, high rise condos, vacation rentals, hotels, paper lots, construction loans, restructuring loans, office buildings, land development deals and anything else that makes sense.
The loans listed above had loan amounts as follows: $440k, $1.55M, $2.7M, $750k, $4.35M, $2.5M, $1.437M, $700k, $2.55M, $4.0M, $1.95M, $595k, $4.3M, $1.5M, $1.2M, $1.081M, $1.357M, $500k, $885k, and $700k. Some of these loans closed in under 24 hours. Some took two months. It depends on what you need and how soon you need it.
We are usually the last mortgage company a borrower calls. They have usually been through 3 or more lenders who have all had one reason or another to not close their hard money commercial property loan. If you have a loan request greater than $500,000, call us and ask for Corinne Cordon, the underwriter. Within 10 minutes she will tell you “yes” or “no”, and if she says “yes” then Capella can close the deal. If the loan is an emergency rush, there is a possibility that the fee will be 1% higher than normal, but if you are going to lose the deal and your earnest money, then the extra 1% will get you closed on time, even if there are only a few days left before your contract expires.
One thing that is different about us from other lenders is that we can actually see the whole picture, and we use a common sense guideline that is more practical than the other commercial lenders you speak to. Bottom line, we are going to make sure that your deal is profitable enough to pay hard money interest rates, pay our fee, pay the costs to fix, renovate, build, etc., and still make a good amount of profit for you. If we see that you will not be able to make a profit, then we are going to wonder why you are doing the deal.