| This is a sample
list of the property types upon which we can place financing. If your particular property
is not listed, just e-mail us the information about your particular situation and we will
be pleased to help you find the financing you require. for example, if you live in a
apartment building owned by a trust. A "Certificate of Ownership" evidences the
ownership of your unit. Given the language of the Trust Document, we can probably get you
a loan on your unit. |
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SINGLE FAMILY RESIDENCE
A free standing home on fee simple or leasehold land. This
includes Planned Unit developments, a form of common interest subdivisions. Permanent
Construction loans are available.
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CONDOMINIUM
An estate in real property in which one holds a separate fee
title to the airspace in a unit and an undivided interest in common to the common areas. A
form of common interest subdivision.
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OWN-YOUR-OWN
Officially known as a Community
Apartment Association, this is yet another form of common interest subdivision. One owns
an undivided interest in the entire project (the land or lease hold estate and the
buildings) and the right to occupy a particular unit.
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COOPERATIVE
A residential housing project
where the fee title/leasehold interest and the improvements are owned by a non-profit
corporation. The individual owns stock in the corporation which entitles the owner to
occupy, often times lease, a particular unit from the corporation.
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COMMERCIAL
Any building or parcel that
carries a commercial zoning. From a single unit, mixed use (Residential & Commercial)
to a major shopping center or office complex.
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APARTMENTS Apartments house loans are broken down into two categories, 2-4
units and 5+ units.
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LAND Beginning with individual lots for the development of a single
family home, moving to larger parcels for the development of shopping centers and
apartment buildings and finally acquisition and development for housing tracts.
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HOME OWNER ASSOCIATIONS
The controlling body of Common
Interest Subdivisions, e.g. Planned Unit Developments, Condominiums, Own-Your-Owns and
Cooperatives.
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