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CaribbeanMortgageLoans.com, a Tampa, Florida, based company specialized in providing hard money bridge loans to Caribbean properties, announced a significant loan-to-value increase across the board for all loans in Mexico, the Caribbean and Central and South America. The new LTV limits take effect immediately and are available on all types of properties including luxury single-family houses, condominiums, multifamily apartment buildings, commercial office buildings, retail strip malls, and resorts.
More information can be found at https://caribbeanmortgageloans.com
LTV, or loan-to-value, is all about how much one’s mortgage borrowing is in relation to how much a property is worth. It is a percentage figure that reflects the proportion of a person’s property that is mortgaged, and the amount that is theirs.
As such, loan-to-value becomes a key consideration when one comes to buy or sell property, remortgage or release equity. The loan-to-value ratio is important because it helps a borrower set his or her maximum budget, expected down payment, as well as estimate the size of the monthly payments
Typically, LTV was capped at 55% to 60% of the as is value of the property and approximately 55% Loan to Cost (LTC) for acquisition and development projects. At CaribbeanMortgageLoans.com, the new LTV will go as high as 75% loan to value on purchases and refinances and as much as 70% to 75% loan to cost on acquisition and construction.
The minimum loan amount for this program is $2 million USD and hard money bridge loans can close in 30 to 45 days.
The recent announcement is part of the company’s commitment to strategically align itself with both, institutional and private investors with managed funds who are interested to lend on qualified, real estate secured properties in Bahamas, Barbados, Costa Rica, Central America, Dominican Republic, Jamaica, Latin America, Mexico, South America, ST. Maarten, ST. Lucia, Trinidad, Turks and Caicos, United States, Virgin Islands, and other stable countries.
Interested parties can find more by accessing the above-mentioned website or calling +1-813-749-6953.
Release ID: 88903729