-
What sets Mortgages Ltd. apart from other private lenders?
Several characteristics distinguish Mortgages Ltd. from other lenders, including:
- Credibility. As the largest and oldest mortgage banker and private lender in the state, Mortgages Ltd. has been financing Arizona real estate since 1963. We have harnessed our tenure and expertise in this dynamic marketplace to successfully gauge the imperatives of the current economic climate. Were commited to managing and embracing change, all the while remaining true to the core values of our founders: passion for business, results-driven approaches, quality service, and most importantly, integrity.
- Flexibility. Mortgages Ltd. has celebrated record-breaking results each year. Our sustainable growth and strength have enabled us to underwrite a variety of loans and originate loans not readily available in the conventional market. While other lenders may resort to syndicating transactions to help make loans, Mortgages Ltd. has the ability to finance loans ranging from $1 million to $150 million, secured by seasoned Deeds of Trust. Our loan officers look for ways to make a loan work instead of ways to reject it, and we typically do not require pre-lease or pre-sale agreements prior to funding.
- Accessibility. Unlike other lenders, Mortgages Ltd. manages the entire lending process from due diligence research to construction administration and loan servicing. We originate, invest in, sell and service all of our loans, and take great pride in the superior quality of our personalized service.
-
What types of properties does Mortgages Ltd. finance?
We underwrite a variety of land, industrial, commercial, residential, refinance, acquisition and development loans ranging in size from $1 million to $150 million. In a dynamic market like real estate, where cyclical highs and lows are a given, the key to understanding what types of properties Mortgages Ltd. seeks to finance is knowledge of the market in anticipation of the next cycle.
Keeping pace with current market conditions, Mortgages Ltd. has shifted its focus from entitlement and subdivision projects to large-scale construction projects in Tempe and Phoenix. Projects such as Centerpoint and Mosaic, two high-rise projects in Tempe, and Hotel Monroe in Phoenix and Ten Lofts in Scottsdale represent some of the new and exciting concepts taking shape in Arizona. We share a vested interest in seeing sustainable projects come to our state that will enrich the quality of life. We actively pursue construction financing opportunities for mid-sized, mixed-use, infill projects that will revitalize our downtown areas by attracting new business and pedestrian traffic.
The constantly-changing economy may affect new and planned projects differently, and we are prepared to meet these changes and the future needs of our clients.
-
What is your max Loan to Value?
At Mortgages Ltd., we believe in the “art of the deal.” Rather than focusing on strict standards such as debt coverage ratios and matrices that turn a borrower into a number, we evaluate several critical factors to determine the feasibility and our comfort level of each transaction. We focus not only on the character and integrity of the borrower, but also on the capacity for repayment, the equity in the property, the location and the property or project type. We take care to determine if a project makes sense, both on paper and for the community, which combined with comfort level can stretch the loan to value.
-
How quickly can Mortgages Ltd. fund?
Every borrower that comes to Mortgages Ltd. does so with the confidence that we understand the urgency of funding a project. Generally, we provide closings within 7-10 business days after final underwriting approval. Depending on the title and how quickly we receive a complete package for due diligence review, the entire process may take 20-30 days. We meticulously plan our monthly funding schedule, which allows us to make decisions quickly. If you would like to learn more about the variety of ways we can assist you, please call 602.277-LOAN.
|