HARD MONEY BRIDGE LOANS

Bridge Lending Criteria

Rates and LTV Terms are based on investment experience within the past 3 years- properties flipped or held as rentals ( RCN )

  • Minimum Credit Score 621
  • Minimum Purchase Price $40K
  • No Bankruptcy or Foreclosures within 24m, No Open Tax Liens, Judgements on Credit and Background Report or Incarcerations
  • Loan Amount: $50K-$3m (Up to $10m on Multi 5+)
  • Minimum ARV $75,0000 (Metropolitan Cities and New Jersey State $150,000 ARV)
  • LTV on purchases: Up to 90% LTV of the as-is value or the purchase price, whichever is lower.  100% of the rehab costs, funded in draws.  ARV as high as 75%.
  • LTV on Cash-out Refinances Up to 70LTV, Rate and Term Up to 72.5LTV
  • Rates: 7.99-10.99% Interest only (Rates are based on investment experience within the past 3 years)
  • Term: 12 Months Term on Fix and Flips and Short-Term Bridge Loan
  • Collateral: Non-Owner Occupied Real Estate Only
  • Closing: 10-15 Business days
  • Property Type: Single Family, Condos, 2-4 Units, Multi 5+, Mix-Use (51% Residential)
  • Bridge Loans, Residential Real Estate Acquisition, Short Sales, REOs, Bank-Foreclosed Residential Properties and Assigned Contracts
  • Lending Area: Nationwide
  • Borrower’s Experience

(Borrower’s experience is determined within the last 3 years as properties flipped or held as rental properties deeded in borrower’s business name or personal name. Experience is not necessary, however terms of Loan to Value and interest rates are based on real estate investment experience)

0 Experience 10.99%
1-2 Experience 10.49%
3+ Experience 9.49%
10+ Experience 8.99%
15+ Experience 8.49%
20+ Experience 7.99%

NO UP-FRONT COST. No Application or Underwriting Fees.  All loans require payments be set up for ACH monthly mortgage payment withdrawal.  Please note, loans will be made to a business entity and personally guaranteed by the individuals of the entity.

Required Documentation

– Entity Docs
– Articles of Organization (LLC) or Incorporation (Corp)
– Operating Agreement (LLC)
– By Laws (Corp)
– Photo ID, Rehab List
– Two Months Bank Statements
– Purchase Contract in Business Name
– Payoff Notice if Refinance along With six months Payment History.

30YR Rental Lending Criteria

  • Minimum Credit Score 575  (Full pricing is at a 680 Credit Score)
  • Loan Amount: $50K-$5M
  • Minimum As Is Value $75K
  • LTV on purchases: Up to 80LTV of the as-is value or the purchase price, whichever is lower.
  • Up to 80LTV on Cash-out Refinance and Rate and Term
  • Rates: 4.50-7.99% amortized
  • 30 years, fixed rate

30 Yr. Prepayment Penalty Options:

The longer you are in a pre-pay the better the rate

    • 1Y/ 12m (1%)
    • 2Y/ 24m (2/1%)
    • 3Y/36m (3/2/1%)
    • 4Y/48m (4/3/2/1%)
    • 5Y/60m (5/4/3/2/1%)
  • 7, 5, 3/1 Arm Options
  • Collateral: Non-Owner Occupied Real Estate Only
  • Closing: 10-15 Business days
  • Property type limited to 1-4 family rentals (New! Now Taking Scenarios for Multi 5+)
  • Lending Area: Nationwide
  • Loan to Values Based on Credit Score
PURCHASE FICO PURCHASE MAX LTV
680+ 80%
660-679 75%
640-659 70%
620-639 65%
600-619 55%
575-600 50%
REFINANCE FICO REFINANCE MAX LTV
680+ 75-80%
660-679 75%
640-659 70%
620-639 60%
600-619 50%
575-599 40%