Borrower Resources

HOW IT WORKS

Send us your investment property information. These details include: address, purchase price, and renovation budget, estimated ARV (after repair value).
Our team will quickly review your project and be able to provide a loan term sheet.
Since we are direct lenders, we normally do not require appraisals (in most cases) and are able to underwrite loans much quicker than conventional lenders or banks. The entire loan process from application to funding typically takes 1 to 2 weeks.
We will coordinate with the title company and at closing, you will sign our loan documents (like a traditional loan). If you obtained a renovation or construction loan, as you work on renovating the project, you will send us draw requests for reimbursement.
Upon completion of the project, you will sell the property and payoff our loan.

EXAMPLE DEAL

At Ceasons Holdings, LLC, we typically will loan the lesser of: up to 70% of the after improved value or 95% of the total project “hard costs.” These funds can include purchase money and closing costs, but MUST also include repair funds.

A sample loan would be as follows:

To determine an eligible loan amount, the After Repaired Value (ARV) of the home must be determined first. This is where our local market knowledge comes in. We are typically able to perform a market analysis and determine a Ceasons Holdings final ARV. For our example, we shall assume a purchase price of $120,000, renovation budget of $25,000, and an ARV of $200,000.

After Repaired Value of Home: $200,000
Purchase Price of Home: $120,000
Estimated Repair Costs: $28,000
——————————————————————————-
Total “Hard Project” Costs: $148,000

WHAT IS MY LOAN AMOUNT?

Reminder, Ceasons Holdings loan amount will be the lesser of: up to 70% of the ARV or 95% of the total project hard costs.

$200,000 x 70% loan-to-value (LTV) = $140,000 Loan Amount
Hard Projects costs of $148,000 x 95% = $140,500 Loan Amount
In this scenario, the loan amount would be $140,000

At closing and funding for the loan, our loan would be structured as:
$140,000 total loan
-$28,000 renovation escrow (held by lender)
$112,000 funding at closing

In our example, the buyer would need to have $8,000 cash at closing (Purchase price of $120,000-Funding released at closing $112,000=$8,000).

In addition to the $8,000 cash down payment, the buyer would also need to have adequate funds at closing for standard closing costs, etc.

Each deal is unique and we look forwards to discussing your next project.

Renovation Draw Funds and Requests

Ceasons Holdings services all construction loans from start to finish and pride ourselves on providing exceptional service.

At loan closing, renovation/construction funds are held by Ceasons Holdings and released to the borrower upon staged completion of the renovation, after lender inspection.

We understand the importance of getting paid on time and want to ensure that your construction project goes as efficiently as possible.

We strive to process construction draws in 24-48 hours. We want to keep your project moving towards completion and understand paying all contractors on time is key. We look forward to being your financing partner for your next construction project.

We do NOT Charge for draw inspections.

Document Checklist for majority of loans

Individual Borrowers

Project summary (address, square footage, renovation budget, loan amount, estimated after repair value)
Renovation budget
Addresses for recently completed projects
Onsite Lender inspection
Executed purchase contract
Title company contact information. We will obtain commitment and title related items directly
Certificate of insurance for the property
Borrower financials

Business Entities

Project summary (address, square footage, renovation budget, loan amount, estimated after repair value)
Renovation budget
Addresses for recently completed projects
Onsite Lender inspection
Executed purchase contract
Title company contact information. We will obtain commitment and title related items directly
Corporate Documents (company operating agreement and EIN)
Certificate of insurance for the property
Borrower and/or Entity Financials

Payoff Requests and Statements

Congratulations on either the sell or refinance of your property. Please provide our contact information to the title company that will be handling your transaction. They may contact us to request a payoff statement for your loan.