We make private loans to fund residential (1-4 family) fix and flip projects, new construction projects, and long-term buy and hold properties.
Our commitment to developing long-lasting personal and professional relationships with our borrowing partners is what distinguishes us from our competitors. Learn more about us.
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.
Approval and funding typically occur within two business days of receiving all required documentation.
Although we specialize in serving experienced borrowing partners who complete multiple projects each year, we recognize that every successful entrepreneur must start somewhere. Therefore, investors with little or no experience will be considered case-by-case for Fix N’ Flip and Buy and Hold Rental loans. New Construction requires a track record of at least three completed gut rehabs and/or ground-up construction projects.
We typically only lend to individuals with credit scores above 620. Credit scores below 620 will be considered if an investor has a track record of multiple real estate investment projects.
For Fix N’ Flip projects, we fund up to 90% of the purchase price and 100% of the rehab costs (max 70% ARV). For New Construction projects, we fund up to 85% of the purchase price and 100% of the rehab costs (max 70% ARV). For Buy and Hold Rental loans, we fund up to 85% of the purchase price.
We make loans ranging from $75,000 to $5,000,000, inclusive of both purchase and rehab funding. Exceptions may be considered case-by-case.
Fix N’ Flip loans are underwritten for 12- to 24-month terms. New Construction loans are for 12-month terms. Buy and Hold loans are for 30-year terms. Extensions may be granted at the our discretion, but are not guaranteed.
There are no prepayment penalties or fees for Fix N’ Flip and New Construction. Buy and Hold Rental loans have a prepayment penalty of 3% during the first year, 2% during the second year, 3% during the third year, with no prepayment penalty thereafter.
Loan rates range between 6.5-12.0% depending on project type, experience, creditworthiness, and deal terms. Rates will be disclosed and confirmed early in the application process once the requisite information has been provided.
Interest payments 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 to date.
After completing work, a borrowing partner will submit a draw request to us via e-mail. 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. The entire draw process from request to reimbursement takes 3-4 business days.
Borrowing partners pay an origination fee of 1.5-3.0% of the loan amount depending on project type, experience, creditworthiness, and deal terms. Other costs include appraisal/BPO cost, a lender legal/processing fee ($500), and inspector fees ($125 per draw) for applicable projects. These fees are well below industry averages and Pantheon does not charge any hidden or “junk” 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 will be considered case-by-case depending on borrower experience and deal specifics.
A valuation document is required for any loan. For loans where we are only funding the property acquisition, we only require an interior BPO. For loans where we are funding both the acquisition and rehab, a full “as-is” and ARV appraisal will be required.
Borrowing partners are permitted to order their own appraisals so long as the appraiser contacts Pantheon to determine how the report should be prepared. Pantheon can also order the appraisal if the borrowing partner would prefer.
We utilize a third-party valuation as well as internal systems and metrics to calculate the ARV.
Pantheon makes loans on properties that are or will become single family homes, duplexes, triplexes, and quadplexes (1-4 units).
Yes. We require dwelling coverage for the total loan amount on all loan types.
No. Contrary to most other lenders, Pantheon does not require personal tax returns, bank statements, pay stubs, or other extraneous financial information.
No. Under no circumstances will Pantheon lend on an occupied property.
We only lend to LLCs or other 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. Our leadership team is happy to assist with this process.
Yes. We require that all borrowing partners have legal representation to protect their interests.
Pantheon currently lends in 12 states and territories including North Carolina, South Carolina, Virginia, Florida, Georgia, Texas, Illinois, Michigan, Pennsylvania, Maryland, Washington D.C., and Maine. We are constantly expanding so please don’t hesitate to reach out if you are in a state not listed but would still like to partner with Pantheon!