FOR BORROWERS

 

Metroplex Urban Spaces Inc. can help you achieve your financial objectives through private first and second mortgage loans available in conjunction with our private lending network affiliates. With flexible financing solutions for short to mid term periods, a simple application process, and quick disbursements, we can surely get you on your way to fulfilling all of your financing needs. Our rates are competitive, and our service is second to none.

 

For more information please contact us!

 

 

FOR LENDERS

 

Metroplex Urban Spaces Inc. can introduce you to safe, lucrative, money lending opportunities in conjunction with our proficient and experienced private lending network. Although the objective is to look for healthy returns, our first and most important priority is protecting your capital. We know the real estate market well and have the expertise and resources readily available to accurately appraise a borrower’s collateral property market value, in turn allowing us to determine the maximum loan amount to offer. This will help protect your money from being overexposed to any unnecessary risk by ensuring there is ample equity to protect capital in an unlikely event of a default. We’ll do all the legwork finding and structuring a safe investment opportunity, and then propose it to you for your approval.

 

For more information please contact us!

 

 

WHAT IS A PRIVATE MORTGAGE?

 

A private mortgage is a loan secured on a real estate asset that is offered by a private individual or business rather than a more conventional lender such as a bank or financial provider. It is typically a short to mid term interest-only loan, often used to provide financing that would otherwise be difficult to attain from other sources for various reasons, or when funds are needed quickly to achieve an investment objective.

 

WHAT IS A SECOND MORTGAGE?

 

A second mortgage is essentially an additional mortgage that is taken out on a property that is already mortgaged.

 

 

REASONS TO CONSIDER A PRIVATE MORTGAGE AS A BORROWER

 

• higher lending risk tolerance available
• flexible terms
• need for a quick disbursement (funds could be ready as soon as one week, whereas a bank could take up to 30-45 days to pay out).
• debt consolidation for higher interest loans
• to free up cash flow
• property renovate and flip
• bridge loan to secure financing on real estate or business investments
• avoiding bank foreclosures & protecting credit
• University tuition fees
• personal projects

 

REASONS TO CONSIDER A PRIVATE MORTGAGE AS A LENDER

 

• receive a better than average return on your capital without taking on higher risk
• maintain a high degree of capital safety as the loan is secured by a property that has met our investment criteria and has ample equity available to cover investment funds in the very unlikely event of a default .
• little to no reliance on the borrower, it’s the asset that secures the loan
• no need to be a landlord
• favorable terms and conditions
• very passive investment

 

 

HOW IS THE MAXIMUM LOAN AMOUNT AVAILABLE DETERMINED?

 

The maximum loan amount available to the borrower will be determined by the Loan to Value ratio or LTV which is:

 

(Loan Amount) / (Property Appraised Value) minus (-) any existing mortgage balance.

 

For example a $400,000 loan on  $1,000,000 property would represent a 40% LTV  ($400,000 / $1,000,000=40%).

 

Using the example above, if the property owner wanted to determine how much he can borrow against this property based on a 75% LTV, and assuming he had an existing mortgage balance of $500,000 the following calculation applies:

 

Property Value ($1,000,000) X Loan To Value (75%)=Available Equity ($750,000)

 

Available Equity ($750,000) – Mortgage Balance ($500,000) =Available Funds ($250,000).

 

In this example, the borrower would be able to borrow up to $250,000.

 

 

WHAT TYPES OF INTEREST RATE CAN I EXPECT TO PAY (OR RECEIVE AS A LENDER)?

 

Interests rates vary depending on the interest rate environment at the time of a loan, economic conditions, and the risk level of a particular investment. Rates between 10-15% can be expected. Administrative fees apply to borrowers.

 

HOW LONG ARE THE LOAN TERMS?

 

Loan terms will vary case by case and are customized to meet the needs of the borrower. That being said, the terms typically range between 3-24 months.

 

 

CONTACT US, WE’D LOVE TO HEAR FROM YOU!