(Newswire.net — February 19, 2020) — A Mortgage and Investment Company has launched hard-money financing options for those interested in properties and projects in the Turks & Caicos Islands.
Hard money bridge loans have been launched for properties and projects in the Turks and Caicos Islands. Ray Wateska, the owner of Westshore Mortgage & Investments has arranged financing for numerous developers in the Turks and Caicos Islands.
For more information see https://caribbeanmortgageloans.com
The launch of hard-money financing in Providenciales and Grand Turk in the Turks & Caicos brings a viable new option for those desiring to establish a resort or other similar project in these Islands.
Ray Wateska is headquartered in Tampa, FL but has coordinated financing in the Bahamas, Barbados, Dominican Republic, Jamaica, St. Maarten, St. Lucia, Trinidad, Virgin Islands and other stable areas of the Caribbean.
The opportunity to borrow hard-money from Westshore includes 65% of Current “as-is” appraised value or up to 65% of “As Completed” appraised value on development and construction projects.
Loans available to purchase property or develop a project in the Turks & Caicos Islands begin at $3 million. Interest-only loans and generally there is no pre-payment penalty. Rates begin at 12% with a 1-3 year repayment plan.
The requirements for hard money loans in the Turks & Caicos include equity in the subject property, a new appraisal of the property by an “approved” appraisal of the lender’s choosing, and the borrower must have capital to invest in the property.
Loans for properties in the Turks and Caicos Islands generally close within 30 days. All times are subject to third party appraisal, clear title report and receipt of payoff information and any other documentation requested.
Anyone interested in exploring a loan for a property or project in the Turks & Caicos Islands should contact the company for a complimentary, no-obligation initial feasibility review of the financing request.
Westshore will review the information and determine which of its investors may have an interest in financing a property or project. If there is no interest from its network of investors they will offer advice and guidance on how to structure a transaction for successful funding in the future.
The launch of hard-money financing in the Turks & Caicos Islands adds a new option for anyone interested in financing in this beautiful and stable Caribbean destination.
For more information see the above URL.