How We Do It
Lending Guidelines
Key Terms:
See What Sets Us Apart As The Preferred Choice For Investors
We require a 680 credit score and three renovations completed in your history.
Origination Points: 2
Interest Rates: 8.75-11%, adjusted based on factors such as credit score, property type, borrower experience, renovation size, population density, and loan-to-value ratio.
Financing: Up to 80% of the Purchase Price and 100% of Renovation Costs.
Rate & Down Payment: Determined after appraisal, with potential adjustments based on appraisal data.
Loan Amount: Up to 70% of the appraised After Repair Value (ARV), capped at 85% of the purchase price plus renovation costs.
Term: 12 months
Processing Fee: $1,600
Minimum Down Payment: $35,000
Prepayment Penalty: None
Monthly Payments: Interest only, based on the purchase price and disbursed construction funds.
Entity Lending: We lend to entities (LLCs, corporations, etc.)
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Appraisal & Closing
Appraisal: Required. We can close 5 days after receiving the appraisal.
Closing Timeline: Typically 10-14 days from appraisal order, faster if necessary.
Down Payment & Rate Adjustment: Post-appraisal data may impact the good faith estimate of the rate and down payment.
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Construction Financing
Draws: Reimbursement for completed work from your construction reserve escrow. Each draw costs approximately $150 and takes about 5 business days to process.
Draw Amounts: Based on your submitted budget and approved by a third-party inspector.
Interest on Construction Funds: No interest charged on funds in escrow; interest begins only after funds are disbursed.
Required Documentation
For Appraisal:
We require a 680 credit score and three renovations completed in your history.
Origination Points: 2
Interest Rates: 8.75-11%, adjusted based on factors such as credit score, property type, borrower experience, renovation size, population density, and loan-to-value ratio.
Financing: Up to 80% of the Purchase Price and 100% of Renovation Costs.
Rate & Down Payment: Determined after appraisal, with potential adjustments based on appraisal data.
Required Documentation
For Underwriting:
Copy of a Driver’s License.
Completed TDC budget and scope of work form.
Last 3 bank statements.
Completed track record form.
Title Company information (contact name, email, phone)
Insurance Company Information (contact name, email, phone).
Full entity documentation (Articles of Organization, Certificate of Good Standing, Operating Agreement, voided check, and EIN form).
If track record entities differ from your current entity, provide the Operating Agreement showing your membership.
Key Terms:
For High Leverage up to 105% LTC
We believe that our strength lies in our team. each member brings unique skills and insights, allowing us to provide a comprehensive approach to private money lending. From seasoned real estate professionals to financial strategists, our team collaborates closely on every project, ensuring that you receive the best possible outcomes.
