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Property Considerations

  • Single family non-owner occupied
  • Multi-family residential
  • New construction
  • Commerical
  • Must be non-owner occupied

Borrower Considerations

  • Must be or use highly qualified, experienced contractor(s)
  • Portfolio of successful projects highly desirable
  • Borrower credit score will be evaluated but not key decision criteria

Property Considerations

  • 3 to 12 month term
  • 12% annual interest (1% per month) paid on cash invested by both Lender and Borrower
  • Interest reserve built in for the term of the loan
  • Generally 4 to 6 points
  • Loan size of $50,000 t0 $10,000,00+
  • No prepayment penalty
  • Up to 70% loan-to-after-repair-value
  • Split Equity
  • Can fund purchase and rehab with adequate collateral
  • Possibly fund interest escrow, points and closing costs as well with adequate collateral and the ability to show skin-in-the-game by both parties

Deal Parameters

  • Set up as borrower/lender relationship only
  • Deal must be safe and profitable for both parties
  • Both parties must show skin-in-the-game. The following may qualify
    • Cross collateral of NOO property, either by borrower or other
    • Seller carry-back behind funding
    • Additional personal Guarantor with adequate credit score and sufficient financials