Short-Term Multi-Family Financing
Service Detail
Short-Term Multi-Family Financing
Obtain short-term financing for 5+ unit apartments & mixed-use properties.
LOAN CRITERIA
Collateral:
Multi-Family Apartment Buildings (5+ Units)
Term:
12 Months
Loan Amount:
$250K** – $2.5M ($1M Max Per Unit)
**Minimum As-Is Value Requirement of $375k. Subject to Increase Based on Location
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
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
Credit Score:
650 Minimum
Short-Term Multi-Family Financing
LEVERAGE BASED ON EXPERIENCE
| EXPERIENCE IN THE LAST 3 YEARS* |
MAXIMUM LOAN-TO-VALUE | MAXIMUM LOAN-TO-COST | |
|---|---|---|---|
| STABILIZED | Completed 0 Flips | Up to 80% of Purchase + 100% of Renovation Costs | Up to 70% of the ARV |
| Completed 1-4 Flips | Up to 85% of Purchase + 100% of Renovation Costs | Up to 75% of the ARV | |
| Completed 5+ Flips | Up to 90% of Purchase + 100% of Renovation Costs | Up to 75% of the ARV |
| EXPERIENCE IN THE LAST 3 YEARS* |
MAXIMUM LOAN-TO-COST | MAXIMUM AFTER-REPAIR VALUE | |
|---|---|---|---|
| LIGHT REHAB | Completed 0 Flips | Up to 80% of Purchase + 100% of Renovation Costs | Up to 70% of the ARV |
| Completed 1-4 Flips | Up to 85% of Purchase + 100% of Renovation Costs | Up to 75% of the ARV | |
| Completed 5+ Flips | Up to 90% of Purchase + 100% of Renovation Costs | Up to 75% of the ARV | |
| MODERATE REHAB | Completed 0 Flips | Up to 80% of Purchase + 100% of Renovation Costs | Up to 65% of the ARV |
| Completed 1-4 Flips | Up to 85% of Purchase + 100% of Renovation Costs | Up to 70% of the ARV | |
| Completed 5+ Flips | Up to 90% of Purchase + 100% of Renovation Costs | Up to 75% of the ARV | |
| HEAVY REHAB | Completed 0 Flips | Up to 65% of Purchase + 100% of Renovation Costs | Up to 55% of the ARV |
| Completed 1-4 Flips | Up to 70% of Purchase + 100% of Renovation Costs | Up to 60% of the ARV | |
| Completed 5+ Flips | Up to 75% of Purchase + 100% of Renovation Costs | Up to 65% of the ARV |
*Within The Same State As The Subject Property
Light Rehab: A renovation budget which is 2.5% – 50% of the Initial Value, and does not qualify as Moderate Rehab or Heavy Rehab.
Moderate Rehab: A renovation budget which is 50.01% – 100% of the Initial Value, and does not qualify as Heavy Rehab.
Heavy Rehab: A renovation budget that exceeds 100% of the initial value OR a project that involves more than a 20% expansion of the initial sq ft or at least 750 sq ft OR a project that involves a change in use.