| Loan Amount | $250,000 – $2.5 Million |
|---|---|
| Loan Term | 12, 18, or 24 month options |
| Time to Close | 10 to 30 Days from Deposit |
| Asset Classes | Commercial apartments 5-50 units or Apartments with a less than 30% commercial portion |
| LTV of Purchase Price | Up to 75% |
| LTC of Rehab Amount | 100% |
| Max Loan to ARV | Up to 70% |
| Minimum As-Is Appraised Value | $250k |
| Lien Position | First mortgage |
| Interest Rate | 10.99% – 12.99% |
| Origination Fees | 1.50% – 3.00% (adjusted to loan size, timing, and complexity) |
| Minimum Credit Score | 680 |
| Amortization | Interest Only |
No interest on the rehab portion until funds have been drawn
No Pre-payment penalty
Renovations Funded 100% via holdback.
A borrower seeking a commercial rehab loan loan must meet the following generally stated minimum requirements.
| Borrower Type | Corporations, Trust or Limited Liability Companies preferred |
|---|---|
| Cash Reserves | Minimum of 10–15% of project costs |
| Net Worth | Sufficient to support the loan and project scope |
| Credit Score | 680 or higher preferred |
| Exit Strategy | Clear plan to repay or refinance the loan is required |
Personal Documents
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Loan Application
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Driver’s License & Passport
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Personal Financial Statement
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Schedule of Real Estate Owned
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Bio/Resume
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Last Two Month’s of all Bank Statements
Property Documents
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Purchase Contract or Payoff (if applicable)
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Leases (if applicable)
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Valuation (if applicable)
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Rent Roll / Operating Statements (if applicable)
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Title & Insurance Contacts
Business Documents
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Entity Documents
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Articles of Organization
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Bylaws/Operating Agreement
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EIN #
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