wolkenkratzer
REAL ESTATE EQUITY AS COLLATERAL
Real estate must be developed residential or commercial property, or income producing land
Must have appraised value of at least $100,000 per piece of real estate
Customer cannot owe more than $300,000 in total against real estate
Additional, non-refundable appraisal fee charged when real estate is used as collateral
Transactions using real estate as additional collateral may take 2-4 weeks to fund
Usable equity is calculated at up to 70% of appraised value (up to 50% for land) less everything owed

For Example:
A lessee owns a home worth $150,000. He has a 1st mortgage for $53,000 and a home equity line for $17,000. $150,000 x 70% = $105,000 – $53,000 = $52,000 – $17,000 = $35,000 in usable additional collateral equity

ADDITIONAL NOTES
Any open tax lien may prevent Dakota from perfecting our lien on collateral assets.
Processing Fee covers UCC searches, UCC filings, titling, inspections (at a single location) and documentation.
Any person who contributes collateral towards a transaction must also cosign on the lease.
Real estate fees are $500 for residential real estate and range from $1,000-$4,000 on commercial property and income producing land. Fees vary based on size and location of property. The fee includes the appraisal and title search. Please note Dakota will conduct a preliminary title search and desktop appraisal before collecting any fees.
Real estate fees are non-refundable, however we will credit the $500 residential real estate appraisal fee towards the customer’s first payment if the transaction funds.
An additional $2,000 titling fee is charged on all real estate transactions. This fee is financed and included in the customers final payment quote. However, this fee is not included in the published lease factors.

Call to speak to one of our loan specialist about our Real Estate Equity as Collateral at 866-611-7457 FREE Ext. 1 at Apple Capital Group, Inc.