Lending

Lending Criteria

  • Borrower Experience

  • Collateral(1-4 family, mixed use, etc.)

  • Project Criteria(location, scope, size, etc.)

  • Borrower Liquidity

  • Credit(fair credit scores accepted)

  • Borrowing entity, we are unable to lend to individuals.

  • Financial information showing that you have the funds to maintain your monthly interest payments & closing costs.

  • Clear exit strategy, ie. Fix & Flip or Fix & Hold; for Fix & Hold borrower’s credit in line with approval standards for traditional refinancing will need to be presented.

  • CMA for the as is value & CMA for the ARV (in some cases, an appraisal will be required)

Standard Rates

  • 11.5-15% interest

  • 3-5 points

  • 4-12 month term

Required Documents

Personal:

  • Prior 2 years tax returns

  • Proof of Funds/Personal financial statement 

  • Proof of income

  • Credit Score

  • Copy of Drivers License 

Borrowing Entity:

  • State articles of formation

  • Federal EIN Document

  • Operating Agreement

Property:

  • AS IS CMA

  • CMA for the ARV

  • Excel draw schedule

  • Contractor Registration/License

  • Contractor work experience using registered entity

  • Contractor insurance

  • Property Insurance