| QUESTIONS & ANSWERS |
 | Below are answers to the most commonly asked questions about our mortgage service. These are generally applicable, though each transaction is reviewed on its merits. |
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| What kinds of property do you accept for mortgages? | We accept a wide range of properties including residential homes, commercial property, investment property, multi-family homes, residential apartment buildings, and portfolio properties. |
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What mortgage time periods do you accept? |
We accept mortgages from 2 to 20 years. |
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| How frequently are mortgage payments made? |
Payments can be made monthly, quarterly or annually. In some cases, we offer a prepayment option. |
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Do you have any approaches to deal with a property where the appraised value is lower than the purchase price? |
Yes. In these cases, we sometimes consider a multi-collateral format so you can acquire the property. |
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Am I required to provide a personal guarantee for the mortgage as is requested by banks and other mortgage companies? |
No. Generally, our mortgages are non-recourse. However, we do reserve the right to request a personal guarantee if we feel it is needed to support the mortgage transaction.
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Do you accept a mortgage on raw land? |
No. We do have an associated company which considers land mortgages. Woodmere Park, however, does not. Look at the Contact Us section of this web site for details. |
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Do you provide construction financing? |
No.
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| What is the loan to value ratio you accept for mortgages? |
Our loan to value ratio ranges between 50% and 70% depending upon the property. If you pledge additional assets, you may be eligible for a loan to value ratio between 70% and 100%. |
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How do your rates compare with the general industry? |
Our rates are extremely competitive. In percentage terms, the Cash Flow percentage rates on our mortgages start at about 1% to1.5% above bank mortgage rates. |
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Do you limit mortgages only to those applicants with the best credit history? |
No. We work with all types of credit histories. |
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Do you limit the purpose for which a mortgage can be obtained? |
No. You may use mortgage funds for any purpose.
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