As quick as 3 business days in some cases. 10 calendar days is preferred in order to have suitable time for a smooth closing process.
This depends if the loan is for acquisition or refinance. In many cases we can get cash out on refinances. On acquisition loans for fix and flip we can get as high as 90% of the acquisition price / value and 100% of rehab funds ; thus leaving the borrower with only 10% down plus closing costs.
Fix and Flip, bridge, refinance, cash-out refinance, commercial, multi-family, rental, new construction. We do not offer any owner occupied or primary residential products at this time. Strictly commercial loans for business purpose.
Pricing varies based on the market, asset, borrower experience, credit score, leverage, etc. We work with new investors with no experience and with highly seasoned investors. Pricing is available as low as 7.99%.
Typically on fix and flips and bridge loans the loan term is 12 months with availability to extend. On commercial products we can get 12-36 months. We are currently offering a 30 year rental product as well.