-- A financier has launched hard money loans, also called bridge loans for investment properties in the Bahamas. Westshore Mortgage & Investments has decades of experience in helping investors with loans for hundreds of projects throughout the Caribbean.
For more information see https://caribbeanmortgageloans.com
The launch of this needed financing in Nassau and other locations in the Bahamas brings hard money access to investors that need fast cash to finish a project. Often traditional sources of capital do not understand the time value of money and that a developer can lose an entire project if funds are not provided in a timely basis.
Although Westshore is headquartered in Tampa, FL finances have been arranged in the Turks and Caicos Islands, Bermuda, Barbados, The Dominican Republic, St. Maarten, Barbados, Jamaica, St. Lucis, Trinidad and Tabago, St. Thomas, The U.S. Virgin Islands and other stable areas of the Caribbean. Now hard money loans are available in the Bahamas.
This opportunity to obtain a bridge loan and obtain hard-money from Westshore includes 65% of Current “as-is” appraised value or up to 65% of “As Completed” appraised value on development and construction projects. Loans available to purchase property or develop a project in the Bahamas begin at $3 million. Interest-only loans and generally there is no pre-payment penalty. Rates begin at 12% with a 1-3 year repayment plan.
The requirements for hard money loans in the Bahamas may include equity in the subject property, new appraisal by “approved” appraiser that the lender chooses. Also, the borrower must have the necessary monies to invest in the development, resort or investment property.
Capital bridge money for the investment properties in the Bahamas usually can be closed in 30 days or less. Times are always subject to a third party appraisal, a clear title report and receipt of payoff information and all other documentation requested.
A company spokesperson stated, “Anyone interested in exploring a loan for a property or project in the Bahamas should contact the company for a complimentary, no-obligation initial feasibility review of the financing request. We will review all information and determine which of our investors might have an interest in financing a property or project. If there is no interest from our network of investors we will offer advice and guidance on how to structure a transaction for successful funding in the future.”
This launch of hard-money financing in the Bahamas provides a viable a new option for anyone developers and anyone interested in financing in this beautiful and stable Caribbean destination.
For more information see the above URL.
Release ID: 88950363