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For a full list and description of available loan types click below.
Available Loan Types

For a full list and description of eligible property types click below.
Eligible Property Types

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Sale Leaseback
When a building is sold to a third party and then leased back from that entity. It enables the seller to convert real estate assets into cash while maintaining expense base.
Sales Comparison Approach
A method of estimating the value of real property by comparing recent sales of comparable properties to the subject property after making appropriate adjustments for any differences. The comparable properties chosen should be substantially similar to the subject property and should be arms-length transactions.
Second Mortgage
A mortgage that has a lien position subordinate to the first mortgage.
Second Mortgage Market
The means by which existing first mortgages are bought and sold. The secondary mortgage market provides a lender with an opportunity to sell a loan before its maturity date, thereby providing greater availability of funds for additional mortgage lending.
Secured Loan
A loan that is backed by collateral.
The property that will be pledged as collateral for a loan.
Self-Amortizing Loan
A mortgage loan that requires level annual payments sufficient to meet the interest requirements and fully repay the entire principal over its term.
Seller Carry-Back
An agreement in which the owner of a property provides financing, often in combination with an assumable mortgage.
The collection of mortgage payments from borrowers and related responsibilities of a loan servitor.
Servicing Fee
The periodic (monthly or annual) payment made by the purchaser of a mortgage (Lender) to the mortgage banker (correspondent) who originally made the loan for servicing the loan. The fee, which varies from one-eight to one-half percent of the outstanding loan balance, covers the administrative costs of servicing such as collection and payment of property taxes and property insurance premiums. Servicing rights may be bought and sold along with the loan.
An organization that collects principal and interest payments from borrowers and manages borrowers’ escrow accounts. The servitor often services mortgages that have been purchased by an investor in the secondary mortgage market.
The difference between the rate at which money can be borrowed and the rate at which it is loaned. Typically the rate (percentage amount) that is added to the Treasury Bill by a Lender when quoting a rate to a borrower.
Term associated with the operation of a property wherein the income and expenses have achieved and maintained a consistent level of performance. The minimum is usually established when the property has performed at a specific minimum for ninety (90) days.
A housing development that is created by dividing a tract of land into individual lots for sale or lease.
Subordinate Financing
Any or other lien that has a priority that is lower than that of the first mortgage.
Subordinate Ground Lease
A land (ground) lease in which the rent payment due from the lessee (borrower) to the lessor (land owner) is subordinated to the debt service owed by the lessee (borrower) to the mortgagee (lender). Normally, a ground lease contains a subordination clause because without it, construction of improvements may be more difficult. A mortgage lender will consider the full value of the property only with a subordinated ground lease.
The process by which the precise physical boundaries of a parcel of land are measured. Legal descriptions appear in title reports, sales contracts, deeds, mortgages, notes, and other instruments involving rights and interests in real estate. When land is conveyed from one party to another, the survey provides a visual representation of the legal description including the precise location of structures, easements, encroachments, rights of ways and other physical features.
Sweat Equity
Contribution to the construction or rehabilitation of a property in the form of labor or services rather than cash.
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