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)  residential investment properties for Fix N’ Flip, New Construction, and Long-Term Buy and Hold Rental investment strategies. 
  • We require a first lien security position on all our loans.  No exceptions.
  • Our loan terms are typically 6-12 months for Fix N’ Flip and New Construction and 30 years for Buy & Hold Rentals. All loans are fixed-rate products.  
  • Rates range between 1.0-3.0 points and 8.0-12.5% interest depending on borrower volume, project type, experience, and creditworthiness. 
  • We fund up to 90% of the purchase price and 100% of the rehab budget for certain transactions and project types. 
  • We typically consider loan amounts of $75,000 to $2,000,000 for a single project (including both the purchase price and the rehab budget). Exceptions are available for certain borrowers and deal types.  
  • We typically require a minimum credit score of 600 for Fix N’ Flip and New Construction and 650 for Buy & Hold Rental. Exceptions are available for certain borrowers and deal types. 
  • A valuation document may be required for each property that we underwrite and will be requested on an as-needed basis. 
  • 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 Programs & Terms

  Fix n’ Flip
 New Construction
 Buy & Hold Rental

Property Types
1-4 unit family homes and condominiums

Loan Size
$75,000 – $5,000,000 (including purchase and rehab)

Lender Position
First lien required

Amortization
 Interest only (monthly) – balloon payment at maturity Interest only (monthly) – balloon payment at maturity 30-year amortizing

Prepayment Penalty
 None None 3% during year 1; 2% during year 2; 1% during year 3; 0% thereafter

Rates
 Starting from 8.0% Starting from 11.0% Starting from 6.5%

Origination Fees
 Starting from 1.0% Starting from 2.0% Starting from 1.5%

Term
 Up to 12 months 12 months 30 years

Total Rehab Budget as % of purchase
 < = 50% preferred, >50% considered case-by-case based on borrower experience and deal structure No set threshold. Will be evaluated based on borrower experience, credit, and deal specifics N/A

Initial Loan to Acquisition Cost
 Up to 90% of purchase price Up to 85% of purchase price Up to 85% of purchase price

Rehab Funding
 Up to 100% of rehab budget Up to 100% of rehab budget N/A

Max After-Repair LTV
 75% 70% (or 85% of cost basis, whichever is lower) N/A

Minimum FICO
 600 600 650

Appraisal (if necessary) 
 -For loans with no rehab budget: Interior BPO
-For loans with a rehab component: “As-is” and ARV appraisal		 As-is and ARV appraisal required As-is appraisal and Market Rental Analysis

Time to Close
 As little as 48 hours Within 21 days As little as 48 hours

Recourse
Personal Guarantee

Ownership
LLC, Corporation, or other business entity