© 2017 by North Star Lending, LLC

TERMS AND CONDITIONS OF ALL LOAN PRODUCTS

Regardless of which loan product you decide suits your needs best, all our products are subject to the same general terms and conditions set forth below, among others:

  • Maximum Overall LTV: 70% of current, as-is market value of collateral

  • Installment Payments: Monthly, interest only with balloon upon maturity

  • Recourse (personal guaranty) required for most loans where LTV exceeds 60%

  • Appraisals rarely required

  • All escrow, title and closing-related expenses, including but not limited to the cost of an extended ALTA policy of title insurance with appropriate endorsements, are payable from loan proceeds at closing

  • Due Diligence Fee: $500 to NSL - payable upon NSL's issuance of firm loan commitment

  • Documentation Fee: $1,500 to NSL - payable at close of escrow from loan proceeds

Our license status prohibits us from making any consumer-purpose loans (no traditional home loans).  Stated differently, our loan proceeds may be used only for commercial, business and/or investment purposes.

Nearly all types of California real estate can serve as collateral for NSL loans, subject to underwriting approval.