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Vertix Group
Home
Lending Programs
News
Meet The Team
FAQs
Contact Us
More
  • Home
  • Lending Programs
  • News
  • Meet The Team
  • FAQs
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  • Lending Programs
  • News
  • Meet The Team
  • FAQs
  • Contact Us

FREQUENTLY ASKED QUESTIONS (FAQ)

BRIDGE LOANS

 Usually, it takes between 10 to 20 days


a.)  Personal financial statement

b.)  Bank Statements

c.)  Resume


 Between 2 to 5 days 


 Between 1 to 3 weeks 


 The rate goes from 8% to 11% 


The LTV ranges from 50% to 70% 


 12, 24 or 36 months


 Yes, usually 6 months  


Depends on the LTV (Loan to Value) and the financial strength of the sponsor. 


CONVENTIONAL LOANS

1. How long does it take to obtain an approved conventional loan?

Approximately between 10 to 20 days

2. What documentation is required for a bridge loan?

a.)  Personal and corporate tax returns for 3 years

b.)  Interim financial statements

c.)  Personal financial statements

d.)  Debt schedule

e.)  Rent roll

f.)   Operating expenses

3. How long does it take for a commitment letter/approval?

Approximately 30 days.

4. How long does it take for third-party reports to be conducted?

Between 2 to 4 weeks.

5. What is the rate?

The rate goes from 3.25% to 5%.

6. What is the loan to value?

The LTV ranges from 50% to 75%, and up to 90% if SBA loan.

7. What are the terms?

 5,7 and 10 years. Up to 25 if SBA loan.

8. Is there a prepayment penalty?

 Yes, usually 3,2,1

9. Is it recourse or nonrecourse?

Depends on the LTV (Loan to Value).

10. How much of the loan can I pay down yearly?

 Up to 20%.

Find out more

Loans are for business purposes only and not for personal, family, or household use. This does not constitute a commitment to lend. All loans must satisfy Vertix Group LLC and Lender’s underwriting guidelines and due diligence. Loan amounts, interest rates and costs presented are for informational purposes only and are subject to change without notice and at Vertix Group LLCs and/or Lender’s discretion. Other conditions may apply.


info@vertixgroup.com


1000 Brickell Ave, Suite 580. Miami, FL 33131


  

If you have any impairment covered by the Americans with Disabilities Act or a similar law, and you  would like to discuss potential accommodations related to using this website, please email us at info@vertixgroup.com.


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