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Loan Rates & Terms

Persevere Lending offers strategic, creative, and efficient loan programs for residential and commercial properties, and land in select locations.

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Loan Amounts - $50,000 to $15,000,000
 

Loan Terms - 12 to 18 months, interest only

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LTV - Up to a maximum of 75%. However, most deals are 65% and under. 40-50% maximum for land.

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2nd Position Loans - Contingent on the following factors:
• Balance Ratio (1st to 2nd) can not exceed 4 or 5 to 1
• 1st must be a low, fixed rate conventional loan in good standing
• Maturity date of the 1st must be well beyond our maturity date

 

Fixed closing costs $3,450 - (Does not include Title/Escrow fees.) The costs of any 3rd party reports must be paid upfront. Loan extensions are contingent on stable market value and satisfactory payment history. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan. 

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Location - We are located in the East Bay of Northern California and have a strong investor presence in all the surrounding counties. We are licensed and active statewide in California and Tennessee, and have broker alliances in Hawaii, Nevada, Oregon, Colorado, Washington, Idaho, Alabama, Texas, New York, and Florida.

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Speed - While we have closed loans within 48 hours from submission, however, the average closing takes 7-10 business days upon receipt of a complete due diligence package.

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Advantages of Private Lending:

  • Speed & Efficiency

  • Flexible Terms

  • No Verification Issues

  • Not Based on Credit Score

  • Bankruptcy & Foreclosure Bailouts

  • Personal & Professional Service

This matrix is intended to provide a preliminary baseline for general reference. The rates & fees, as well as the loan term, are not set in stone and are subject to additional modifications that could result in an increase or decrease. We will evaluate the circumstances of every deal independently. The financial strength of the borrower, their creditworthiness, their overall qualifications, and the quality and desirability of the proposed collateral, remain the primary determinant factors of our final proposal.
 
In addition to the origination fee, our fixed closing costs total $3,450, and covers; documents, processing, administrative, insurance review, credit and background reports, and servicing set up. Does not include Title & Escrow fees. The costs of any 3rd party reports must be paid directly to the vendor up front.

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General Rates & Fees as of October 2024

1st position loans
LTV  /  Rate  /  Points
Up to 50%   |   Prime + 2.00   |   1.5
51-55%   |   Prime + 2.50   |   2.0
56-60%   |   Prime + 3.00   |   2.5
61-65%   |   Prime + 3.50   |   3.0
66-70%   |   Prime + 4.50   |   3.5

2nd position loans
LTV  /  Rate  /  Points
Up to 50%   |   Prime + 5.00   |   3.5
51-55%   |   Prime + 5.50   |   3.5
56-60%   |   Prime + 6.00   |   4.0
61-65%   |   Prime + 6.50   |   4.5
66-70%   |   Prime + 7.00   |   5.0

Credit-Based Rate & Fee Adjustments
Credit Score    |   Rate & Fee Adjustment
780+ Credit       |   Subtract 0.5 from rate & fee
720-779             |   No Adjustments
660-719             |   Add 0.5 to rate and 0.5 to fee
600-659             |   Add 1.0 to rate and 1.0 to fee
599 and below |   Add 2.0 to rate and 2.0 to fee

Land loans (1st position only)
LTV / Rate / Points
Up to 35%   |   Prime + 6.50   |   4.0
Up to 40%   |   Prime + 7.00   |   4.5
Up to 45%   |   Prime + 7.50   |   5.0
Up to 50%   |   Prime + 8.00   |   5.5
 

Let us Review

Your Deal!

Email Damon Bowers Now

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