Typical loan candidates are borrowers with equity in real property who can not secure institutional financing due to credit problems; property does not fit the guidelines, or timing requirements. UIAL can fund purchase and refinance loans up to $5,000,000 secured by 1st Trust Deed on the following type of properties:
- Residential 1-4 units (N/O/O only)
- Apartment/multi-family residence
- Strip mall
- Mixed-use
- Office/commercial
- Rehab
- New Construction
Documents Needed:
- LOAN SUBMISSION FORM
- Recent Tri-Merge credit report
- Loan Application
- Operating statement & current rent roll (if applicable)
- Photos
- Copy of purchase contract (if purchase)
- LOE & exit strategy
The following financial considerations apply too all loan applications:
- Borrower must have the ability to repay the loan.
- Borrower must have some of their own financial investment in the property (min. 30% down payment on Purchase and 35% equity on Refinance).
- We do not lend in rural areas.
- California only.