LAIC Venture Capital Companies, announces “LAIC Interim Construction Finance Fund"

Oct. 30, 2010 - PRLog -- LAIC Venture Capital, a Beverly Hills and Los Angeles Private Equity Investments Fund, announces the launch of a three hundred million dollar “Interim Construction Financing Fund” for Fannie Mae Approved Mortgage Loans.

"LAIC Interim Construction Financing Fund" is a three hundred million dollar private investment fund established by LAIC Venture Capital in partnership with a pool of both private accredited investors, institutional investment firms and international investors. The fund will make first deed of trust interim construction loans to consumers throughout the United States that have an “end loan” guarantee from the Los Angeles based “LAIC Mortgage Bancorp”.

This program is designed for the borrower who wishes to obtain a first mortgage loan to construct or rehabilitate a primary residence or second home and has obtained a permanent financing loan approval from one of the LAIC Mortgage Bancorp Fannie Mae Loan Programs. The program provides for both construction financing and permanent financing with a simple single loan closing, avoiding the traditional two loan closing process and the excessive fees associated with it. The borrower signs one set of loan documents that cover both the interim construction phase and the permanent loan phase.

The borrower may choose from several Fannie Mae Mortgage Loan Products (Fixed and ARM) available through LAIC Mortgage Bancorp and multiple rate lock options that offer a variety of features. The construction period can vary in length between 6, 9, and 12 months.
Additionally, construction periods of 15 and 18 months are available for the 1-year Treasury ARM product. During the construction period, the loan will be interest only with interest payments paid from an interest reserve account. When the home has been completed, the loan will be converted to a permanent mortgage.

LAIC Venture Capital Companies anticipate nationwide rollout of the program during the first half of 2011.

For more information:

LAIC Venture Capital
Steve Muehler, Managing Partner
13101 Washington Blvd.
Los Angeles, CA 90066
(310) 566-7469

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LAIC Venture Capital is an Investment Banking firm making direct investments in the fields of Oil & Natural Gas, Mining & Mineral Rights, Alternative Energy, Bioenergy and Real Estate Ventrues in North and South America.