Term
12 months standard
18-month option case-by-case
Rehab/Construction Financing
Funding up to 100% of rehab budget plus up to 90% of Approved LTV of Total Purchase Price
Maximum Loan-To-Value(Ltv)
Up to 70% After Repair Value (ARV) LTV
Loan Amount
$50K - $5MM
Loan Purpose
Rehab loan for non-owner occupied residential investment property
Borrower T
Term
12 months standard
18-month option case-by-case
Rehab/Construction Financing
Funding up to 100% of rehab budget plus up to 90% of Approved LTV of Total Purchase Price
Maximum Loan-To-Value(Ltv)
Up to 70% After Repair Value (ARV) LTV
Loan Amount
$50K - $5MM
Loan Purpose
Rehab loan for non-owner occupied residential investment property
Borrower Type
Entity required
Property Types
Non-Owner Occupied:
Attached or detached SFR
2-4 unit properties
Townhomes
Condos
Foreign Nationals
Not allowed from ineligible country list
Minimum Experience
NO prior experience required
Maximum Loan To Cost
Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction
Max 85% of total project costs
LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
Maximum Loan To Arv
Up to 70%
Recourse
Full Recourse
Reserves/Escrows
Interest Reserve:
Minimum
Maximum Loan To Cost
Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction
Max 85% of total project costs
LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
Maximum Loan To Arv
Up to 70%
Recourse
Full Recourse
Reserves/Escrows
Interest Reserve:
Minimum 1 month
Experience
Previous real estate experience required: 1-2 Ground ups
GCs if experience if permits tie to Ground ups
Guarantors with no experience permitted on a case by case basis
Loan Amount
Min: $50,000
Max: $5,000,000
Term Length
12 months, Up to 18 at Lender Discretion
Property Count
Min: 1
Max: 2
Permitted Property Types
Eligible:
Non-owner Occupied 1-4 unit residential
Townhomes
Condos
Ineligible:
Mixed use properties
5+ unit multifamily properties
Condotels
Co-ops / TICs
Commercial Property
Log Homes
Properties Subject to Oil and/or Gas Leases
Operating Farms, Ranches, or Orchards
Vacation or Seasonal Rentals
Rural properties
Maximum Loan To Cost
Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction
Max 90% of total project costs
LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
Maximum Loan To Arv
Up to 70%
Recourse
Full Recourse
Reserves/Escrows
Interest Reserve:
Minimum
Maximum Loan To Cost
Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction
Max 90% of total project costs
LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
Maximum Loan To Arv
Up to 70%
Recourse
Full Recourse
Reserves/Escrows
Interest Reserve:
Minimum 1 month
Minimum 6 months full boat IR funded with initial loan amount for 90% LTC loans
Experience
Previous real estate experience required: 3+ similar Ground-up builds + heavy rehabs with expansion. Professional deveopment / builder.
Guarantors with no experience permitted with experienced guarantor that meets the above experience criteria
Loan Amount
Min: $50,000
Max: $5,000,000
Term Length
12 months, Up to 24 at Lender Discretion
Property Count
Min: 1
Max: 10
Permitted Property Types
Eligible:
Non-owner Occupied 1-4 unit residential
Townhomes
Condos
Ineligible:
Mixed use properties
5+ unit multifamily properties
Condotels
Co-ops / TICs
Commercial Property
Log Homes
Properties Subject to Oil and/or Gas Leases
Operating Farms, Ranches, or Orchards
Vacation or Seasonal Rentals
Rural properties
Minimum Guarantor Fico
Mid-Score of 680
Markets
Primary, secondary and tertiary
Loan Term
12 to 24 months
Recourse
Loans ≤ $2MM: Full Recourse
Loans > $2MM: Full Recourse or
Limited Recourse with bad-boy carveouts
Completion Guaranty/Reserve Replenishment Guaranty when applicable
Loan Types
Interest Only | Fixed/Adjustable Rate Mortgage Options
Experi
Minimum Guarantor Fico
Mid-Score of 680
Markets
Primary, secondary and tertiary
Loan Term
12 to 24 months
Recourse
Loans ≤ $2MM: Full Recourse
Loans > $2MM: Full Recourse or
Limited Recourse with bad-boy carveouts
Completion Guaranty/Reserve Replenishment Guaranty when applicable
Loan Types
Interest Only | Fixed/Adjustable Rate Mortgage Options
Experience
Prior multifamily property ownership experience required
Loan Amount
$500K - $5MM
Loan Purpose
Multifamily bridge loans for purchase or refi of small and middle-market investment properties (5+ multifamily units) that are stabilized or in need of renovation/value-add.
Property Type
5+ unit Multifamily, min $35,000 per door
Acceptable properties are Class A, B and C grade. Class D properties will be considered on a case-by-case basis
Maximum Leverage
Loan-To-Cost (Ltc)
Loan-To-Value (Ltv)
Cost Is Purchase Price Amount
Up to 75% of purchase price and 100% of renovation costs subject to 80% total (LTC) | 70% of stabilized value (LTV)
Cash-out refi 65%
Borrower Recourse
Recourse and Non-recourse.
Non-recourse option will have standard carve-outs; availability will be determined on a case-by-case basis.
Foreign Nationals
Allowed with established US credit subject to 55% stabilized LTV max
No DSCR
Max LTC
85% of purchase price + verified completed capex if property owned <6 months
Max LTV
700 FICO:
70% if property owned >6 months
660-699 FICO:
65% if property owned >6 months
Min DSCR
N/A
Min FICO
660
Purpose
To provide bridge financing on a property that was recently renovated or constructed and is currently/soon to be listed for sale
Lo
No DSCR
Max LTC
85% of purchase price + verified completed capex if property owned <6 months
Max LTV
700 FICO:
70% if property owned >6 months
660-699 FICO:
65% if property owned >6 months
Min DSCR
N/A
Min FICO
660
Purpose
To provide bridge financing on a property that was recently renovated or constructed and is currently/soon to be listed for sale
Loan Amount
Min: $75,000
Max: $1,500,000 / larger loans allowed at lender discretion
Term Length
12 Months, up to 18 at lender discretion
Property Types
Single Family/2-4 Unit/Townhomes/PUD/ Warrantable Condos
Property Condition
C2 or better
Collateral Restrictions
Property value within 90th percentile of market
No rural, exotic, or unique propertiesciting your business offers? Say it here.
Max LTC
85% of purchase price + verified completed capex if property owned <6 months
Max LTV
70% LTV
Min DSCR
1.10 Exit DSCR based on lower of in place rent and market rent
Min FICO
660
Purpose
To provide bridge financing on a property that is currently rented or soon to be rented, but is not yet ready for permanent financing
Loan Amount
Min: $75,00
Max LTC
85% of purchase price + verified completed capex if property owned <6 months
Max LTV
70% LTV
Min DSCR
1.10 Exit DSCR based on lower of in place rent and market rent
Min FICO
660
Purpose
To provide bridge financing on a property that is currently rented or soon to be rented, but is not yet ready for permanent financing
Loan Amount
Min: $75,000
Max: $1,000,000 for SFR,
$2,000,000 for 2-4 unit / larger loans allowed at lender discretion
Term Length
12 Months, up to 18 at lender discretion
Property Types
Single Family/2-4 Unit/Townhomes/PUD/ Warrantable Condos
Property Condition
C4 or better with no deferred maintenance
Collateral Restrictions
No rural, exotic, or unique properties
Term
30-year fixed, arm options available
Recourse
Full Recourse Only
Loan Types
30-Year Fixed Rate Mortgage (Fully Amortizing)
5/6, 7/6, 10/6 Hyrbid ARMs (Partial IO or Fully Amortizing)
Experience
not required
Loan Purpose
Purchase, rate-term refinance, or cash-out of a single rental property
Minimum Fico
660
Borrower Type
Entity required
Interest Rat
Term
30-year fixed, arm options available
Recourse
Full Recourse Only
Loan Types
30-Year Fixed Rate Mortgage (Fully Amortizing)
5/6, 7/6, 10/6 Hyrbid ARMs (Partial IO or Fully Amortizing)
Experience
not required
Loan Purpose
Purchase, rate-term refinance, or cash-out of a single rental property
Minimum Fico
660
Borrower Type
Entity required
Interest Rate
call for quote
Property Types
Single Family Residences (SFR)
2-4 unit properties
Warrantable condos
Townhomes
PUD
Vacancy Maximum
purchases only or leased within 30 days
Rural Properties
not permitted
Foreign Nationals
not allowed from ineligible country list
Lease Requirements
Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
Unleased Units: 90% of Market Rent (Purchase Loans only)
Maximum Loan To Cost
If Owned < 3 months, 80% of Total Cost Basis
Minimum Loan Amount
$75k - $2.5mm
Maximum loan-to-value (ltv)
up to 80% on purchase and rate & term. Up to 75% on cash-out
Property Or Unit Acquisition Minimum
1 property per loan
Minimum Debt Service Coverage Ratio (Gross Rent/Pitia)
1.10x
Seasoning Requirement (To use value vs. Cost basis)
180 days
Term
30-Year term, Fixed Rate Mortgage (Fully Amortizing) 5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)
Lease Requirements
Minimum Occupancy Rate of 90% by Unit Count
Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
Unleased Units: 90% of Market Rent (Purchase Loans only)
Recourse
Non Recourse with 'bad-boy' carveouts an
Term
30-Year term, Fixed Rate Mortgage (Fully Amortizing) 5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)
Lease Requirements
Minimum Occupancy Rate of 90% by Unit Count
Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
Unleased Units: 90% of Market Rent (Purchase Loans only)
Recourse
Non Recourse with 'bad-boy' carveouts and Pledge of Equity of Borrowing Entity
Loan Purpose
Blanket loan for purchase, rate-term refinance, or cash-out of a portfolio of rental properties
Minimum Fico
660 (for portfolios at or under $2MM and 10 properties)
All other portfolios: 680
Borrower Type
Entity required
Interest Rate
Call for quote
Property Type
Non-Owner Occupied:
Single Family Residences (SFR)
2-4 unit properties
5-8 unit multifamily
Warrantable condos
Townhomes
PUD
Minimum debt service coverage ratio (net cash flow/debt service)
For portfolios with ≤ $2MM AND ≤ 10 properties: 1.10x (Gross Rent/PITIA)
For all other portfolios: 1.20x (Net Cash Flow/Debt Service)
Vacancy Minimum
Min. 90% occupancy rate by unit count
Rural Properties
Not permitted
Foreign Nationals
Eligible at maximum 65% LTV
Minimum Loan Amount
$250K - $50MM
Property Restrictions
No vacation or seasonal rentals
Maximum Loan-To-Value (Ltv)
Up to 80% on purchase and refi. Up to 75% on cash-out
Seasoning Requirement (To Use Value Vs. Cost Basis)
180 days
Maximum Loan To Cost
If owned < 3 months, 70% of Total Cost Basis
If owned between 3-6 months, additional 5% haircut on Max Eligible LTV
Maximum Loan To As-is Value (subject To Minimum Fico)
Purchase/Rate-Term Refinance: 70%
Cashout Refinance: 70%
Minimum Guarantor Fico
Mid-Score of 680
Recourse
Full Recourse or Non Recourse with bad-boy carveouts
Maximum Loan To Cost
If owned < 3 months, 70% of Total Cost Basis
If owned between 3-6 months, additional 5% haircut on Max Eligible LTV
Maximum Loan To As-is Value (subject To Minimum Fico)
Purchase/Rate-Term Refinance: 70%
Cashout Refinance: 70%
Minimum Guarantor Fico
Mid-Score of 680
Recourse
Full Recourse or Non Recourse with bad-boy carveouts and Pledge of Equity
Loan Types
30-Year Fixed Rate Mortgage, OR
5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)
Loan Amount
$250,000 - $3,000,000
Term Length
30 Years
Property Types
5-8 Unit Residential Properties
Minimum Debt Service Coverage Ratio (net Cash Flow/debt Service)
1.20x - 1.40x, based on subject market classification (Top, Standard, Small, Very Small)
Lease Requirements
Minimum Occupancy Rate of 90% by Unit Count
Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
Unleased Units: 90% of Market Rent (Purchase Loans only)