Loans For Investors
We do not. We'll lend up to 90% Loan to Cost depending on experience.
We only do hard pulls for rental loans AFTER you've accepted an offer and once the loan is in underwriting. We utilize soft pulls for short-term mortgages.
This will depend on the type of loan product. Note that the following timelines start when the file is ready for underwriting (all info and documents uploaded), not necessarily when the loan is submitted or under contract.
Rehab/bridge loans – 10 business days for a new client, 5-7 business days for repeat clients
Rental loans – 4 weeks for single properties, 5-8 weeks for most portfolios
Construction – 3+ weeks, depending on complexity
5+ Unit Multifamily – 4-6 weeks, depending on complexity and appraisal timelines
12-month value-add loans, 24-month bridge loans, 12-month construction loans, and 30-year DSCR rental loans (both amortizing fixed and interest-only adjustable rates).
Property is not in a state that we finance or in a location that an appraiser would consider rural
Property value (or purchase price) < $100,000, or loan amount < $125,000 (or less than $50,000 per unit for multifamily)
Credit score < 680 or has major delinquencies over the past 2-4 years
Liquidity < $25,000 or not enough to cover down payment, closing costs, 3-6 months of payments, or rehab reserves
Newer investors taking on extensive rehab projects
We only require one guarantor and signer with at least 25% ownership of the entity.
We require title insurance on our loans, which a lot of local auction properties will not have. Some online auctions go through a closing agent that provides title insurance, but the borrower should check with the seller/platform.