Lending Parameters
TERM
1-Year, Plus Extension Options
INTEREST ONLY
Interest Paid Only on Drawn Funds
DRAW REQUEST
Inspections Within 24 Hours and Funds Wired Same Day
LOAN AMOUNT
$50,000 to $5 Million
BORROWER
Special Purpose Entity Structure
BROKERS
Brokers Welcome and Protected
LENDING AREA
New Jersey, New York, Connecticut, Pennsylvania, Massachusetts, Tennessee, South Carolina, Florida, and Alabama with other geographic locations considered. Vermont, New Hampshire, Maine, Georgia, and North Carolina coming soon.
NO PREPAYMENT PENALTY
Prepayment Accepted Anytime
Collateral Types
- Single Family Residential
- Multi-Unit For Sale Residential Projects
- New Construction and Fix & Flip
- Multifamily
- Commercial (Industrial, Office, Net Leased Retail)
- Development Land
Proceeds Uses:
- Acquisition Funding
- Construction Improvements
- Redevelopment
- Cash Out Refinance
- Refinancing
- Repositioning
- Bridge Financing
- Will Consider Creative Opportunities
First Time Borrower Parameters
- Loan to Purchase: Up to 80%
- Construction Financing: Up to 100%
- Loan to After Repair Value: Up to 65%
- Interest Rate: As Low As 10%
- Origination Fee: 2% – 4%
- Closing Time: 1 Week
Repeat Borrower Parameters
- Loan to Purchase: Up to 90%
- Construction Financing: Up to 100%
- Loan to After Repair Value: Up to 65%
- Interest Rate: As Low As 9%
- Origination Fee: 1% – 4%
- Closing Time: 1 Week
Elite Program
Parameters
Loan to Purchase: 90%
Construction Financing: 100%
Loan to After Repair Value: 70%
Origination Fee: 1% – 4%
Interest Rate: As Low As 8.99%
Elite Plus: Well qualified borrowers may get 5% of the purchase price advanced as a construction draw at closing.
Borrower Requirements
- Credit Score: Above 650*
- Loan to Cost (LTC): Max of 94%*
- Completion of two projects in the last year or five in the last two years
- Property Types: 1-4 family houses, townhomes and condominiums
* For credit scores below 650, multiple compensating factors exist