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 12-18 months for Fix N’ Flip and New Construction and 30 years for Buy & Hold Rentals. All loans are fixed-rate products.  
  • Rates range between 1.5-3 points and 8.0-12.5% interest depending on 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 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 for Fix N’ Flip and New Construction and 650 for Buy & Hold Rental.
  • An valuation document is required for each property that we underwrite. For projects that do not involve a rehab, an interior BPO appraisal will suffice. For projects that involve a rehab and/or have a loan size above $250,000, a full 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 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 1.5% Starting from 2.0% Starting from 1.5%

Term
Up to 24 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
70% 70% (or 85% of cost basis, whichever is lower) N/A

Minimum FICO
620 620 650

Appraisal Requirement
-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 -For loans under $250K: Interior BPO
For loans over $250K: As-is appraisal

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