Costs:
Are there any “upfront fees”?
If you are able to provide us with the information that we request, we will review and analyze your request at our expense and then seek to find an appropriate lender to provide the requested funding. Only after this process, and only if we are able to gain the interest of from a specific lender based on the representations made by you, will we present you with a proposal and fee agreement wherein you decide if you want to proceed.
We can place loans into multi-millions. If you need a smaller amount, don't let that stop you from contacting us, we may have an investor for it.
Commitment Fee:
A good rule of thumb regarding our commitment fee is that it is .01 to 10% of our expected success fee. It depends on the loan amount and the complexity of the work involved. See how we work for a more in-depth discussion.
Investors will also charge a retainer for things like appraisals, legal and title fees, etc. There will be no surprises here, you will know and approve these expenditures ahead of time. For a more detailed explanation, see "How We Work"
Pricing:
- We used to be able to post a range of pricing, but given the recent volatile market conditions, simply can't do so. Pricing is is given at the time of the loan offering. For what it is worth, it has been in the 3% - 4% range for securities financing, 4.875% - 6% for conventional real estate financing, 12-14% range for private money financing, 14%-23% for sale/lease back financing, etc. Hard money is always expensive, expect 14%+ up to 6 points if you go that route.
Closing SUCCESS Fee:
White Knight will charge either a flat fee or a percentage, usually 1-3% depending on the loan amount. We can go lower if we do the servicing, higher if the loan amounts are small.
End Investors will charge varying fees to close your loan. Zero to five points depending on the credit worthiness of the principals and the strength of the principals. You will know about ALL fees UPFRONT with no exceptions, prior to agreeing to anything.