GREAT WEALTH AVAILABILITY FUNDING,INC
PROCEDURES FOR LOANS
CONSTRUCTION TO PERMANENT FINANCING
80% + Loan To Cost ~ Non-Recourse
Low Fixed Rate General terms below.
Loans subject to project acceptance and underwriting approval
- Private USA and Global Commercial Lender
- Minimum $50 million, NO MAXIMUM. Currently funding over $5 Billion for Projects.
- Single or Multi-Projects
- All Types of Real Estate: Resorts, Hospitality, Hi-Rise, Energy, Industrial, Multi Story Structures, Infrastructure, Private and Government Loans, etc.
- 100% Loan on Project Cost: Hard, Soft, Financing, Interest Reserve
- Program requires a 25% Cash Deposit of Total COST at closing. The 25% is HELD IN THE DEPOSITOR’S OWN ACCOUNT DURING CONSTRUCTION… THE HOLD ON THE ACCOUNT IS RELEASED BACK TO THE DEPOSITOR AT THE END OF CONSTRUCTION. Projects costing more than $400M and above may likely require less of a Cash Deposit. Cash Deposit amount determined by total cost of project and monthly draw schedule over the construction period
- Cash Deposit is held in a non-depletion account in Depositor’s name & control
- Non-Recourse loan (except for Standard Carve-Outs) NO PERSONAL FINANCIALS – NO GUARANTEES REQUIRED.
- NO UPFRONT FEES OR DEPOSITS. Customary broker and lender fees included in Project Costs
- Interest-only during construction, Interest Reserve Account funded in Loan.
- Construction-to-Permanent Financing. Loan balance transfers to self-amortizing permanent loan for 15 to 20 years WITH NO FURTHER APPLICATION OR ORIGINATION POINTS. Lender does NOT place a mortgage on the property during construction but WILL when the loan rolls to permanent
- Low Fixed Rate – SAME fixed interest rate during Construction and Permanent Loan.
- Freely pre-payable. No prepayment penalties, defeasance, yield maintenance, or exit fees after first 12 months
NEEDED FOR LOAN SUBMISSION:
Please use the initial list below for items that need to be submitted to GWA for review and submittal to lender for evaluation of the loan program.
- Executive summary showing details on the project, business location, scope, quality, market demand, viability, values, timing and project readiness; architectural plans and specs, entitlement approvals, construction costs, etc. and information on the developers, sponsors, experience and history.
- Pro-forma on the cost of the project
- Pro-forma on the operations over 5 years after construction (revenue, expenses, net income and more)
- A monthly loan disbursement draw (tranche) schedule over the term of construction, to be reviewed and approved by lender; estimates are acceptable initially and will be firmed up later in the loan documents.
- Proof of Funds for the 25% cash deposit collateral . Actual POF can come after the project has been green lighted by lender, however the 25% collateral must be ready and available before submitting for review.
We will expedite the loan as soon as we receive the above information.
All the best!
The GWA Team
FOR MORE INFORMATION CONTACT:
GREAT WEALTH AVAILABILITY FUNDING, INC.
GWA Funding Inc.
17325 State Hwy #173, Hesperia, California 92345 U.S.A.