Borrowers  |  Testimonials

Borrowers
Questions and Answers

 
What type of transactions do you consider at TCT Mortgage Group Inc.?
For Developers we offer services to purchase raw land for development, servicing of subdivisions, home construction, spec builds, small commercial and multi-family units.
 
Why would I use a private lender in these cases?
In today’s marketplace, many of the traditional lenders have backed away from the smaller construction projects as noted above. With private lenders, such as our company, these projects are still possible.
 
How complicated is the approval process?
Actually, since we have no layered approval format, the process is simple. Once we have all of the required information, we should be able to have an approval for you within 72 hours. The required information consists of an application, credit history, costing, building plans, and appraisals. After approval, you could have funds within 5 business days.
 
Do you do draws?
This is our specialty!
 
Is there any chance that your company could commit to funding the initial draws, then not have the funds available to help me complete my project?
Our model calls for your entire financial request to be placed into the lawyers trust account at the onset. Your funds are always safeguarded, and available to you according to a pre-determined draw schedule.
 
What are the terms of your mortgages?
As with our residential program, the mortgages are written over 12 month terms, at a 12% interest rate, all mortgages are open (no penalty), a lender fee will apply. Please call our company for the details.
 
Our company has multiple projects running at the same time, custom builds, spec builds etc. Is that a problem?
It is not a problem, we are there to support your business, and trust your ability and judgement. As long as each individual project fits into our LTV criteria of 65%, you would have a good opportunity to have your project approved.
 
How would I apply?
Simply apply online, or call our office at 506-855-7001, one of our staff would be only too happy to discuss your financing requirements.



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