All loans made by Prestige Florida Fund Partners will need to abide by the following guidelines:
Prestige Florida Fund Partners will fund loans up to 90% of the project costs. The borrower must have a demonstrated and verifiable minimum of 10% equity in the investment.
All residential rehab loans will have a 75% loan-to-value ratio based on after repair value (ARV). All other loans will have a loan-to-value ratio of no greater than 75% of current market value.
Prestige Florida Fund Partners will either have a first priority mortgage lien secured by the underlying property, as well as an assignment of the equity positions of the borrower or mezzanine financing so long as the guidelines are met.