Non-Recourse Loans Tampa Florida: DKC Lending is now providing real estate investors with a non-recourse loan option. Non-recourse debt is a type of loan secured by real estate collateral, in which if the borrower defaults, the lender can seize the collateral but cannot seek out the borrower for any further compensation. This is one instance where the borrower does not have personal liability for the loan.
LTV: Funding up to 50% of asset value
Term: 6 to 24 Months
Rate: 12-18% Interest
Origination Fee: 2-6%
A non-recourse loan is a type of loan secured by real estate collateral, in which if the borrower defaults, the lender can seize the collateral but cannot seek out the borrower for any further compensation. In a non-recourse loan, the borrower does not have personal liability for the loan.
Contact DKC Lending at +1 email@example.com for Non-Recourse loans in Florida.
Recourse debt gives the creditor full autonomy to pursue the borrower for the total debt owed in the event of default. After liquidating the collateral, any balance that remains is known as a deficiency balance. The lender may attempt to collect this balance by several means, including filing a lawsuit and obtaining a deficiency judgment in court. If the debt is non-recourse, the lender may liquidate the collateral but may not attempt to collect the deficiency balance.
In the event that the borrower conducts any fraudulent activity or misrepresents themselves in any way, the non-recourse loan becomes a full recourse loan and the lender can then go after any of the borrower’s assets in a case of default.
If you have any queries about our Non-Recourse Loans Tampa, FL call us at +1 727-977-8480, or fill out our Apply funding form online and we will contact you within 1 business day.
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