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Resort Area Loans

Montegra has a long history of funding commercial real estate loans in resort properties going back over 36 years. We have funded loans in Aspen, Vail, Telluride, Steamboat Springs, Jackson Hole and Sun Valley. Montegra strongly believes in resort properties and will work very hard to close your loan request.

We will fund loans on both improved properties and land. The improved properties may include single family residences (purchased for a business purpose) residential or commercial condos, and residential or commercial building lots. Our long history of working with appraisers over many years allows us to order and receive a completed MAI appraisal in as little as one week.

Loans are considered up to 65% loan to value on improved properties and up to 60% loan to value on land. Please remember that Montegra always uses the current fair market value for its appraisals, not the "quick sale values" that many other hard money lenders use. When your property is appraised at its fair market value you will receive more funds that when some other lender appraises it at "quick sale value". When considering a purchase loan request, Montegra uses the higher of appraised value or purchase price, something few if any traditional lenders will consider.

Flexibility is built into all of our underwriting. We recently funded a purchase money loan to help a buyer close on a single family residence where he intended to tear the existing house down and then re-zone and re-plat the property into one single family lot and one duplex lot. Conventional lenders and banks were not willing to work with this buyer to help him tear down the existing improvement. Montegra got the job done for him.

We have also made loans in resort areas where the borrower had all of his assets in off shore trusts which prevented traditional lenders from considering his loan application. Montegra can fund loans to foreign nationals looking to own property in prime resort communities. Let us help you with your asset based loan requests.

Click on Apply Now to see what Montegra can do for you.