Effective September 1st 2023. All loans are first position only. Rates vary.* All loans are subject to credit review, inspection, clear, marketable and insurable title, with no liens. We are primarily focusing on SFH/MFH with other properties considered on a case by case basis. Cash out refinances are available on limited basis at 50% LTV.

Loans are made strictly to LLC’s Corporations or Land Trusts with a personal guarantee. Loans that exceed $300K, cannot be in a Land Trust, must be an LLC or Corp.

Residential Single Family Home

• 65% LTV max.
• Loans under $200,000-any renovation in excess of $10,000 shall be subtracted from the loan amount, subject to strength of borrower and condition of property.
• Loans above $200,000-all repairs over $15,000 will be deducted from the loan amount.
• Lender may require survey and/or appraisal.
• Residential deals may require escrowing for taxes.
• Please note: We are cautious in certain markets where the supply of inventory is high.
• Borrower will need to have money in the deal and is required to show proof of funds for renovations and/or carrying costs.
• Minimum Loan Amount: $40,000.

5 units and above

• 65% LTV max.
• Need to see rent rolls.
• Lender may require Phase One Environmental.
• Subject to physical inspection & clear title
• Lender may require survey and/or appraisal.
• Inspection fee to be determined and collected at time of inspection.

Other commercial properties/strip centers

• 65% LTV max.
• Lender may require survey and/or Phase One Environmental and appraisal.
• Inspection fee to be determined and collected at time of inspection

Luxury SFH

• 60% LTV max.
• Borrower will need to have money in the deal and is required to show proof of funds for renovations and/or carrying costs.

Long Term Loans

• They are available on a limited supply at a lower rate.*
• 1 point to lender may be collected.
• 1 year prepayment penalty.

Additional Fees

• Rush Closing Fees: 100k loan value or less, fee is $1,000. Loan value over 100k fee is 1 point. All rush closing fees are due at the time the file is opened.

Transactional funding: Available for double closings. Please call for details.

At this time, we are not funding any condo loans unless it is on the water.

*Rate is subject to change without notice, may not be available at closing.

1. Submit ONLY the loan submission form via email or fax. Do not submit our application until your submission is reviewed. Thank you for your cooperation.
2. We will give you a loan amount.
3. We will fax or email you the paperwork to fill out regarding your credit and property information.
4. We will request that you provide us a current credit report, and go to inspect your property. Property inspection fee for condos, townhomes and single family homes is $150 and is payable at time of inspection. An administration fee and document preparation fee payable to our law firm which totals $700, will be added to your closing costs. (Please note that in some cases, these fees will be higher.)
5. Rush Closing Fees: 100k loan value or less, fee is $1,000. Loan value over 100k fee is 1 point. All rush closing fees are due at the time the file is opened and are non-refundable.
6. REO Notary/Closing Fee $200. Fee may increase due to travel time &/or closing after hours.
7. We do not loan to individuals, loans are business loans for investment purposes only. *WE DO NOT LOAN TO OWNER OCCUPANTS.* We do loan on commercial property.
8. You must have a valid Corporation or LLC and a FEI # at time of application. *All borrowers must have filed their 2021 annual report with the State. *If borrower is an LLC, please submit operating agreement or a resolution clearly stating who is authorized to sign loan documents on behalf of company. Resolutions must be notarized within the last 6 months. *If borrower is a corporation, a resolution specifically stating that the president of the corporation is authorized to sign the loan documents. Resolutions must be notarized within the last 6 months. *Resolutions must be signed by all shareholders * signed in presence of a notary.

Borrower Checklist for Closing – You will need to bring these items to closing:

1. Hazard and Wind insurance that covers vacant property and proof of payment, if rental property, a Citizens Policy is acceptable. Insurance must be pre-paid for one year, please fax or e-mail this document to us 24 hours prior to closing for our review. *Please Note: On refinances, if your property is not insured, the closing will be delayed for 30 days.
2. Flood Insurance if your property is east of I-95.
3. Your cashiers check or wire for the closing cost due.
4. Your corporate seal and tax id number for your entity.
5. Your driver’s license.

The Closing Process

1. Fax or e-mail the full application, executed contract, title company information and recent credit report (if you have one) otherwise we’ll pull it for you. Please call to confirm receipt of all information faxed. Fax to 954-354-1010, email to nancy@daviddweck.com.
2. After the property inspection and all your paperwork has been faxed to us we will give you a loan commitment which includes the loan amount, percent, and points.
3. The title company will start their lien search to obtain clear title (estimated time is 10-14 days). You will need to provide how you are purchasing the property, i.e. corporation, trust, LLC and who is the president of the entity. You must also provide the buyers name, phone, fax and address, the sellers name, phone, fax and address, any real estate agents names, phone, fax and addresses and anyone who will be attending the closing to provide to them with the location and time of the closing.
4. Once the title company has obtained clear title they will fax us a title commitment and we will close shortly.
5. We will prepare the mortgage documents.
6. We will confirm with the title company the closing date and time.
7. One of our representatives will attend the closing.