Our Lending Services
At Romspen, we’re looking to provide capital to compelling real estate estate opportunities that don’t necessarily “check all the boxes” for a big bank or other traditional lenders.
If you’re an innovative and experienced sponsor with a compelling project or a mortgage broker acting on behalf of such a project, we want to hear from you.
- Types of loans:
- Pre-development and subdivision servicing facilities
- New residential and commercial construction facilities
- Revolving loan facilities for new construction and builder inventory
- Renovation, conversion and expansion financing
- Streamlined draw process to meet project requirements
- Structures of construction loans vary according to transaction requirements and are flexible and tailored to meet borrowers’ specific needs
- Term loans for many property types and unique borrower circumstances
- Conventional interest-only or amortizing loans with a fixed interest rates
- Acquisition financing and property refinancing
- Structures vary according to transaction type and are flexible and customized to meet a borrower’s unique requirements
- Short-term bridge financing solutions with fast turnaround
- Bridge the arrival of longer-term financing from a conventional institutional lender or to provide time to value-enhance a project or property type prior to sale
- Bridge financing covers conventional and non-conventional situations with terms from 1 month to 1 year
Property Types
(Canada & U.S.)
- Commercial buildings
- Hotels and hospitality
- New residential condominium construction
- Retirement and nursing home facilities
- Development lands
- Apartment buildings
- Automotive dealerships
- Industrial buildings
- Recreational resort properties
- Plazas and shopping centers
- Cinemas
- Places of worship
- Parking lots
- Multi-family residential
- Recreation-vehicle parks
- Private schools
- Subdivision servicing
- Builder inventory loans
- Condominium conversion projects
- Storage facilities
-
Deal submitted
(through a broker or directly from borrower) -
Romspen’s
origination team
performs preliminary review, qualifies deal:
24 hours -
Romspen issues
letter of intent (“LOI”): three to five days -
Borrower reviews financing terms;
if acceptable, borrower signs back -
Romspen performs due diligence (verification of documents, borrowers claims, market research, financial underwriting)
-
Site visit and in-person meeting with borrowers
-
Commitment
Letter issued
(two to three weeks from issue to execution) -
FUNDING
