OCL’s note purchase loan product automatically converts to a bridge/mini perm loan when the underlying property is foreclosed upon. This non-recourse mortgage — which includes lease-up facility and other benefits — allows time to stabilize the property. You’ll get the security and certainty you need to make the most of your purchase. Future funding facilities including TI/LC can be included along with most property types.
OCL also offers a recourse private product for a quick close to 80% of the purchase, limited to a 50% appraised value. Typical terms will be 12 – 24 mos with 12% interest only monthly payments.