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Q?
Who is Spinnaker Loans?
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A.
Spinnaker Loans is a premier private lender focusing on originating and funding non-owner occupied, non-consumer loans for flip, rental, and development investors.
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Q?
What types of Loans does Spinnaker Loans originate?
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A.
Spinnaker Loans originates short term investment loans.
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Q?
On what kind of properties does Spinnaker Loans lend?
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A.
Spinnaker Loans lends on Residential Single Family Residences, Condos. Multifamily, Commercial, and Vacant Land properties.
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Q?
What size loans does Spinnaker Loans originate?
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A.
Spinnaker Loans generally lends from $30,000 to $400,000 (please call for larger loan amounts).
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Q?
Is there a Pre-Payment penalty ?
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A.
Spinnaker Loans generally has no pre-payment penalty (it is case by case on longer term loans).
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Q?
How long does it take Spinnaker Loans to close a loan?
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A.
Spinnaker Loans can close as fast as the client and escrow provide proper documentation and complete all funding conditions; typically 10 days.
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Q?
Does Spinnaker Loans make provisions for Rehab Loans?
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A.
Yes, Spinnaker Loans will lend up to 65% of After Repair Value (ARV). A budget for repairs will be required at the time of submittal and held back as part of the closing. The lender will disburse funds once repairs are completed.
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Q?
How do I get started with the loan process?
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A.
Simply navigate to the "Get a Quote" page, completely fill out the information and a loan professional will contact you. You can also contact us through any of the contact information provided here on this site.