COMMERCIAL GUIDELINES

PROPERTY REQUIREMENTS

First mortgage lien.  Participations and joint ventures will be considered.

LTV

Loans up to 65% of appraised value
Loans from $50,000 to $3,000,000
All property types will be considered

Appraisal required on all properties by approved DJ Mortgage appraiser (borrower is responsible for payment)

Mortgagee title policy required at closing

Builder's risk and/or hazard policy naming DJ Mortgage as additional loss payee required at closing

Closing attorney selected by DJ Mortgage

BORROWER REQUIREMENTS

Completed borrower application

Historical financial operating statements and projected future pro-forma

Middle credit score of greater than 600 (lesser credit may be considered)

Executed contract for purchase and detailed construction budget, if necessary, from contractor required

Adequate financial reserves to cover expenses of closing and continued borrowing

Exit strategy to retire loan

LOAN PROVISIONS

Up to 65% LTV

6 month term, interest only at 14-17% per annum

Origination fee of 5-15% of loan ($4500 Minimum Fee)

Customary closing costs and fees paid by borrower

Appraisal by DJ Mortgage approved appraiser

Interest due on the first of each month

Extension fees beyond original term may apply