Obtain short-term financing for 5+ unit apartments & mixed-use properties
-
Collateral:
Multi-Family Apartment Buildings (5+ Units); Mixed-Use Buildings (Residential space is greater than 70% of square footage) -
LTV:
Stabilized Bridge
Purchase: Up to 75% of the As-Is Value Refinance: Up to 70% of the As-Is Value Cash-Out: Up to 65% of the As-Is Value -
Loan Amount:
$250K** - $10M ($1M Max Per Unit) **Minimum value requirement of $35k per door. Subject to increase based on location. -
Fix & Flip
Purchase: Up to 80% of the Purchase Price + 100% of the Rehab Costs
Refinance: Up to 70% of the As-Is Value + 100% of the Rehab Costs
Cash-Out: Up to 65% of the As-Is Value + 100% of the Rehab Costs -
Term:
12 - 18 Months -
Credit Score:
620 Minimum
Experienced Customer
(Completed 5+ Flips in the Last 3 Years)
Light Rehab
- Purchase
Refinance
Cash-Out
MAXIMUM AFTER-REPAIR VALUE
Up to 70% of the ARV
Up to 65% of the ARV
Up to 60% of the ARV
MAXIMUM LOAN-TO-VALUE
- Up to 80% of Purchase Price + 100% of Renovation Costs
- Up to 70% of As-Is Value + 100% of Renovation Costs
- Up to 65% of As-Is Value + 100% of Renovation Costs
Heavy Rehab*
- Purchase
Refinance
Cash-Out
MAXIMUM AFTER-REPAIR VALUE
Up to 65% of the ARV
Up to 60% of the ARV- Not Permitted
MAXIMUM LOAN-TO-VALUE
- Up to 70% of As-Is Value + 100% of Renovation Costs
- Up to 65% of As-Is Value + 100% of Renovation Costs
- Not Permitted
New Customer
(Completed <3 Flips in the Last 3 Years)
Light Rehab
- Purchase
MAXIMUM AFTER-REPAIR VALUE
Up to 65% of the ARV
MAXIMUM LOAN-TO-VALUE
- Up to 70% of Purchase Price + 100% of Renovation Costs
Stabilized Bridge
- Purchase
- Refinance
- Cash-Out
MAXIMUM LOAN-TO-VALUE
- Up to 75% of the ARV
- Up to 70% of the ARV
- Up to 65% of the ARV
