Yes to both questions. We require a minimum deposit per loan. For more clarification on the guidelines please see our LOAN CRITERIA. Deposits on loan amounts higher than $125,000 are handled on a case by case basis. We would prefer our customers to have a minimum $10,000 working capital in their savings or checking accounts.

Experience is not require to be approved for a loan however, there is a realistic expectation of all borrower to perform their own due diligence and procure worthy contractors or have GC oversee the project. We are hands on with each customer and offer advice on overall outcome of each project. We want you to succeed.

Yes, although each commercial property is taken on a case-by-case basis and will require larger working capital and deposit.

Yes. As a direct lender, we can have the ability to provide several loans to each borrower. We will increase your borrowing levels as you prove your ability to manage multiple projects.

Yes. Each request for funds must be accompanied by a property inspection. As previously stated, we only reimburse for work completed and work “properly” completed. For additional clarification, refer to our draw process guidelines.

We currently provide Bridge Loans in the following areas: > Pennsylvania: Montgomery County, Philadelphia County, Delaware County > New Jersey: Southern New Jersey > Massachusetts: From Boston through the South Shore > Rhode Island: Providence, Pawtucket, Cranston, Warwick and Central Falls Exceptions are periodically made to those borrowers with very good credit and cash reserves or borrowers with whom we have an ongoing relationship.

The Loan To Value on all our loans is capped at 65%. Accordingly, the purchase price of the property will dictate how much of the project the loan covers. In all cases, it is important to note that the borrower must have a minimum of 10% or $7,000 earnest deposit on all REHAB loans (the higher of the two).

A minimum credit score of 650 is required. We require a credit verification and will not asses the a potential borrower solely on a customer provided credit report.

We loan money to investors or “renovators” who buy houses with the intention to sell or refinance (rental property). Since we have the ability to quickly fund a loan, the borrower can demand large discounts from the seller (many people will sell cheaper if they can get their money in a few days instead of a few months). We lend on single-family residential, 1-4 unit multifamily, commercial, and multi-use properties. Our program is geared to investors who can buy right, rehab quickly and exit quickly. There are four easy steps to our loan once you are an approved borrower… 1.) Get the property under contract and submit the agreement of sale and rehab budget to us. 2.) We will evaluate the deal to determine our After Rehab Value (ARV) 3.) Obtain Title Insurance and Property Insurance. 4.) Close the loan.

We process a commercial credit check initially and typically refresh the report annually.

Yes, we perform a property analysis for each potential loan. 90% of appraisal work is completed in-house however; we reserve the right to hire a 3rd party appraisal company.

Our standard loan terms depend on the size and scope of the loans. > Rehab Loans are between 6 and 12 months. > New Construction Loans are between 12 and 24 months.

Our current interest rate is between 12% – 16% for all our new borrowers. After successful repayments, we can review your account, payment history, and overall situation in order to adjust this rate. Payments are interest-only and due on the 1st of every month.

We can fund the deal as soon as the title company has completed their work. In many cases, we can close a loan within 10 business days (assuming there are no issues with conveying clear title).

Under our current loan program we are lending at 65% Loan to Value (LTV) of the After Repaired Value (ARV). We will consider lending at a higher LTV if additional collateral is pledged (must be free of all liens/judgments and we would hold 1st position lien on additional collateral). These instances are all case by case.

Closing costs vary depending on the size of the loan, title fees, transfer taxes, and settlement charges. The loan fee is made up of points, (3-6 points on average), the first inspection fee, processing and setup fees, appraisal fee, and wire fees. It is almost impossible to have a standard “closing cost estimate” without evaluating each individual deal.

Yes. Each loan has a full project summary in which a draw schedule is clearly defined. We release rehab funds once each phase of work is completed. We do not disburse rehab money in advance.