Our Loan Terms

  • We customize our loans to satisfy the needs of our borrowing partners. Whether your priority is receiving the maximum amount of capital for your deal or obtaining the lowest possible rate, we work with you to arrange an optimal loan structure.
  • We lend on non-owner-occupied (1-4 unit) fix and flip residential investment properties. We do not currently underwrite new construction or long-term buy and hold projects.
  • We require a first lien security position on all our loans.  No exceptions.
  • Our loan terms are typically 12-18 months. We do not charge any prepayment penalties or termination fees for early repayment of a loan. 
  • Our rates generally range between 1.5-3 points and 9.0-12.5% interest depending on experience and project specifics.
  • We fund up to 90% of the purchase price and 100% of the rehab budget for certain transactions. However, larger down payments result in lower rates.
  • We fund loan amounts of between $75,000 to $2,000,000 for a single project (including both the purchase price and the rehab budget).  We do not consider loans with total amounts below $75,000.
  • We require a minimum credit score of 620.
  • An appraisal is required for each property that we underwrite. For projects that do not involve a rehab, an “as-is” appraisal will suffice. For projects that involve a rehab, a “subject to” or “ARV” appraisal is required.
  • We require our borrowing partners have legal representation as well as a business entity (LLC, partnership, S- Corporation, etc.) to serve as party to the loan. We do not transact loans with individuals.

Loan Types

Properties

Loan Size

Lien Positions

Amortization

Prepayment Penalty

Rates

Origination Fees

Duration

Total Rehab Budget as a % of Purchase Price

Max Initial Loan to Acquisition Cost

Max Construction Holdback to Rehab Cost

Max After-Repair LTV

Minimum Borrower FICO Score

Appraisal Requirement 

Time to Close

Recourse

Ownership

Non-owner-occupied fix and flip residential investment properties

1-4 unit family homes and condominiums

$75,000 – $2,000,000

First Lien

Interest only (monthly) – balloon payment at maturity

None

9.0% – 12.5% depending on borrower experience and deal structure

1.5% – 3.0% depending on borrower experience and deal structure

Up to 18 months

< = 50% preferred, > 50% considered case-by-case based on borrower experience and deal structure

Up to 90% of purchase price

Up to 100% of rehab budget

70%

650 (620 may be considered in special circumstances)

For loans with no rehab budget: As-is appraisal. For loans with a rehab component: ARV appraisal

As little as 48 hours

Personal Guarantee

LLC or other business entity