We make private loans to fund residential (1-4 family) fix and flip projects.
Our commitment to developing long-lasting personal and professional relationships with our borrowing partners is what distinguishes us from our competitors. The “Pantheon Advantage” is captured through six merits:
Yes. We require a first lien security interest on all our loans.
You may apply to be pre-approved as a borrowing partner based on your credit report, background check, and personal financial statement without a property under contract. This process is normally completed within 24 hours. You can complete the pre-approval application here.
Once you have been approved as a borrowing partner, we can begin underwriting your projects. Approval of a loan generally takes two to four business days following the receipt of all necessary information and documentation. We typically fund loans submitted with a completed package within five business days.
Although we prefer to work with experienced borrowing partners who complete multiple projects each year, we recognize that every successful entrepreneur must start somewhere. Therefore, prospective borrowing partners with little or no experience will be considered on a case-by-case basis.
We typically only lend to individuals with credit scores above 650. Credit scores between 620 and 650 may be considered on a case-by-case basis.
For certain projects, we will fund up to 90% of the purchase price of a property and 100% of the rehab construction budget.
We make loans ranging from $75,000 to $2,000,000. Exceptions may be considered on a case-by-case basis.
Our loans are underwritten for 12 to 18-month terms. Extensions may be granted at the lender’s option but are not guaranteed.
There are no penalties or fees for early repayment of a Pantheon loan.
Our loan rates range between 10 – 12.5% depending on experience and deal terms.
Interest payments on Pantheon loans are made on a monthly basis.
The portion of the loan committed to the rehab budget is placed into an escrow account from which the borrowing partner can request disbursements at any time. Rehab payments are made “in arrears,” meaning borrowing partners use their own money to finance each step of the rehab and are reimbursed by Pantheon for costs incurred.
After completing work, a borrowing partner will submit a draw request to us via e-mail or over the phone. Following receipt of the request, Pantheon will send an inspector to the property to verify that the stated work has been completed. Upon successful inspection, Pantheon will release the requested draw amount within 24 hours.
Borrowing partners pay an origination fee of 2.0-3.0% of the loan amount depending on experience and deal terms. Other costs include appraisal costs, a lender attorney fee ($995), and inspector fees ($230 per draw) for applicable projects. These fees are standard for the industry and Pantheon does not charge any hidden fees.
We prefer that rehab budgets remain under 50% of the purchase price. However, “rehab-heavy” loans with construction costs exceeding 50% of the purchase price may be considered on a case-by-case basis.
Pantheon does not currently offer funding for new construction projects.
We do require an appraisal prior to funding any loan. For loans without a rehab budget, only an “as-is” appraisal is required. For loans with a rehab budget, an ARV (“subject to”) appraisal is needed.
To minimize costs and provide flexibility, we allow our borrowing partners to order their own appraisals.
ARV refers to the fair market value of the house after renovations have been completed.
Our team uses the appraisal as well as our internal systems to calculate the ARV. Pantheon lends up to 65-70% of the ARV depending on experience.
Pantheon makes loans on single family homes, duplexes, triplexes, and quadplexes (1-4 units).
Yes. We require a full insurance policy on each property for which a loan is outstanding.
No. Contrary to most other lenders, Pantheon does not require personal tax returns, bank statements, pay stubs, or other extraneous financial information.
Once the necessary documentation has been received and your loan has been approved, we can generally close within 2-3 business days.
No. Under no circumstances will Pantheon lend on an occupied property.
We only lend to LLCs or other special purpose business entities (e.g. partnerships). If you do not have an entity, you will be required to set one up prior to funding. Setting up an LLC is a simple and affordable process that can typically be completed within 24 hours. We are happy to assist you with this process.
Yes. We require that all borrowing partners have legal representation to protect their interests.
We have a national presence and lends in all U.S. states except for North Dakota, South Dakota, Nevada, Arizona, West Virginia, Minnesota, and Vermont.