Harrisburg PA lending opportunity

[Charles Williams]

I have an opportunity to lend on a rehab project in Harrisburg PA area but I have no experience in the state.  Ive done many loans in MD (both as rehabber & lender) but this is my first one for PA.  

Can anyone shed some light on both: 1) location of the rehab project  & 2) PA specific loan terms

1) The house is in the Drexel Hills neighborhood of New Cumberland, approx 3000 sq ft. How is this part of town for desirability and resales? Do good quality rehabs tend to fly off the MLS listings or sit for a bit? Is this a safe area with decent schools? Anything odd I should be aware of?

2) Are there any unique private lending issues in PA? It's a first position lien, I plan on asking for lender title insurance and loss payee on insurance policy and theres plenty of space in LTV. I'll also require a personal guarantee but its a loan to an LLC. Are there special mortgage clauses I should require for foreclosing options? Do I need a commercial loan affidavit?

I appreciate any feedback.

[Steve Babiak]

Can't speak about location, but the thread in link below has posts from an attorney in PA who has clients that do lending:

https://www.biggerpockets.com/forums/49/topics/555...

@David Krulac

@David Krulac might be able to discuss that location.