Our Borrowing Criteria
Terms are individually assessed for each case. However, the following terms outlined represent our standard agreement and typically establish the minimum criteria.
1
Our program caters exclusively to corporate entities; personal use loans are not available.
2
Residency in North Carolina is a requirement, and we regretfully cannot extend our lending services to out-of-state borrowers.
3
12% interest rate
4
A minimum of 2 origination points is to be paid at the conclusion of the loan.
7
Bel Air Lending should be named on the Title Insurance policy.
10
The borrower is responsible for any additional fees related to loan closing, such as attorney fees.
5
We require a first-position Deed of Trust on the collateral for Bel Air Lending.
8
Second position loans are not permitted; borrowers cannot seek financing from both Bel Air Lending and another lender or private party.
11
Loan terms are capped at a maximum of 12 months.
6
Bel Air Lending must be listed as the primary payee on the insurance policy.
9
Maximum financing is limited to 70% After Repair Value (ARV).
12
One-time $600 inspection/draw fee.
Questions?
If you have questions, please do not hesitate to reach out.