Ditmas Park Capital offers loans secured by real estate. We currently lend in the tri-state area of New Jersey, New York and Connecticut.
All of our loans must be in first position (i.e. no second mortgages).
Our loans cannot be more than 78% of the purchase price of the property.
Our loans cannot be more than 68% of the appraised value of the property.
Our loans are typically for twelve (12) months with interest only paid on a monthly basis.
We typically close on a loan as fast as three (3) days.
We charge 2 points up front and 1% per month. We charge another 1 point at the end of the 12th month if the loan is still outstanding.
Your initial cost will be $250 for a BPO (Broker Price Opinion – the appraisal), $250 for an inspection and $150 Application fee.
When you contact us, we will put together a Term Sheet for your review.
To see a typical Term Sheet click here.