Borrowers

When real estate is your livelihood, you don’t often have time to wait the time it takes for traditional financing methods to be completed. And that’s if everything is in order and fits neatly into the institution’s box of requirements. The title is clean. The property is pristine. There are no liens placed on the property.

At the Pelorus Equity Group, we know that it’s difficult to find those kinds of properties, especially for investors. That’s why we specialize in transactions that need creative, specialized solutions in order to close quickly. Whether it’s to save a purchase transaction or a complex transaction requiring multiple special requirements to satisfy legal issues with partners, spouses or existing lender situations, we can provide solutions to expedite the close. We have first hand experience and know how to successfully negotiate a structure that is amenable for all parties involved, even in the most adversarial situations.

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Lending criteria:
  • Loan size
    • From $100,000 up to $5,000,000, and above on a case by case basis.
  • Location
    • California and on a case-by-case basis we now starting to lend in the Western Regional States.
  • Rates
    • From 8.99% - and 2.5 points.
  • Collateral
    • Non-owner occupied, owner user and owner occupied business purpose loans may be considered on a case-by-case basis.
    • 1st lien position only on: SFR’s, condos, commercial and improved income producing properties
  • Max LTV
    • Up to 65% LTV for coastal counties and up to 60% non-coastal counties.
    • Purchase: Value is based on the actual purchase.
    • Refinance: Value is based on Pelorus’opinion of the appraised value of real estate for refinances. We use our own appraiser review process and may require a site inspection.
    • Rehab: Value will be based on after repaired or future value.
  • Terms
    • 1 year, interest only, with three month guaranteed minimum yield returned to investors.
  • Creative/Flexible
    • We offer blanket loans and include points, fees and may include an interest reserve into the loan and multiple income sources may be considered.
  • Due diligence
    • Generally a deposit isn’t required; unless there are unique legal issues or extraordinary due diligence is necessary prior to the loan being approved. When applicable, the upfront deposit is fully refundable, less expenses (approximately $1,000 - $2,500).