Loans from County Mortgage

Loan Programs:

Property Types	1-4, Mixed Use, Commercial
Loan Amount	50% of Current Appraised Value
Interest Rate	12-14%
Maximum Loan to After Repair Value (LTARV)	60%
Term	12 Months
Recourse	Yes
Origination Points	2
Expected Closing Time	2-3 Weeks
Appraisal	Yes
Prepay Penalty	None
Extension Available	Yes
Cross Collateral Accepted?	Yes
Minimum FICO	No

Property Types	Land
Loan Amount	50% of Current Appraised Value
Interest Rate	12-14%
Maximum Loan to After Repair Value (LTARV)	60%
Term	12 Months
Recourse	Yes
Origination Points	2
Expected Closing Time	2-3 Weeks
Appraisal	Yes
Prepay Penalty	None
Extension Available	Yes
Cross Collateral Accepted?	Yes
Minimum FICO	No

Property Types	Rehab
Loan Amount	50% of Current Appraised Value
Interest Rate	12-14%
Maximum Loan to After Repair Value (LTARV)	60%
Term	12 Months
Recourse	Yes
Origination Points	2
Expected Closing Time	2-3 Weeks
Appraisal	Yes
Prepay Penalty	None
Extension Available	Yes
Cross Collateral Accepted?	Yes
Minimum FICO	No

Complete A Loan Application

Your Commercial Loan Questions Answered

Do I Need to Work with a Mortgage Broker?

You may contact County Mortgage directly or go through a broker.

How Long Does the Process Take?

Most loans are closed in two to three weeks.

Are There Up-Front Fees?

There is a $1000 commitment fee and the consumer is responsible for paying the appraiser.

Can I Bring My Own Appraisal?

Yes. If you have a recent appraisal, it will be reviewed and may reduce the fee for the new appraisal.

Is a 21E Environmental Report Required?

Phase I studies will be required for all properties that have environmental exposure, such as gas stations, industrial sites, and auto services. Further testing will be required as indicated in Phase I.

What Information Will be Required?

A loan application form.

How Much Can I Borrow?

You can borrow up to 50% of the current appraised value.

Important Information Regarding Procedures when Opening a New Account

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information identifying each person who opens an account.

What does this mean for you? When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying documents.