Loan Program Summary for Partners

COLLATERAL

Non-Owner-Occupied Residential Investment Properties:

1-4 units, condos, townhomes (rural locations, modular or manufactured homes not allowed)

LOAN SIZE

$150K - $5M

CREDIT

650+

BORROWER

Business Entity (LLC or Corp) with personal guarantees from 20%+ members

DISQUALIFIERS

Bankruptcy or Foreclosure within past 48 months, criminal litigation in past 24 months, financial crimes

STRUCTURE

Up to 90% of the total project cost with 100% of the rehab reserves not to exceed 70% ARV

TERM

12 months interest only (2 x 3 months extensions available)

INTEREST RATE

8.5%+

ORIGINATION

0.75%+ ($2000 minimum)

EXPERIENCE

At least 1 fix and flip project in the past 36 months is required

INELIGIBLE STATES

Alaska, Idaho, Minnesota, Nevada, North Dakota, Oregon, South Dakota, Utah, Vermont, Louisiana. We do not lend in Territories of Guam or Puerto Rico.

INELIGIBLE CITIES

Chicago, IL | Detroit, MI | Baltimore, MD | Philadelphia, PA

STRUCTURE

Up to 90% of the total project cost with 100% of the rehab reserves not to exceed 70% ARV

Up to 90%LTC – 75%ARV for institutional level borrowers

TERM

12 months interest only (2 x 3 months extensions available)

INTEREST RATE

9.75%+

ORIGINATION

1%+ ($2000 minimum)

EXPERIENCE

2+ in the past 3 years with at least 1 ground up

investor or builder/GC experience acceptable if part of the borrowing entity

INELIGIBLE STATES

Alaska, Idaho, Minnesota, Nevada, North Dakota, Oregon, South Dakota, Utah, Vermont, Louisiana. We do not lend in Territories of Guam or Puerto Rico.

INELIGIBLE CITIES

Chicago, IL | Detroit, MI | Baltimore, MD | Philadelphia, PA

STRUCTURE

Up to 80% LTV

TERM

30 year fixed

INTEREST RATE

6%+

ORIGINATION

1%+ ($2000 minimum)

INELIGIBLE STATES

Alaska, Idaho, Minnesota, Nevada, North Dakota, Oregon, South Dakota, Utah, Vermont. We do not lend in Territories of Guam or Puerto Rico.