BROKER PROGRAM

Programs Available for Brokers:

There are a few unique aspects to our programs that set us apart from other lenders.    No interest on the rehab portion until funds have been drawn, no tax returns, no personal income required, and we always lend 100% of the rehab cost.   Our process is simple, structured, and efficient.

 

Contact us for our broker matrix.  Brokers are paid on HUD, sign up agreement available upon request.

 

In order for us to streamline the process, below is a list of what’s needed for a quote.

 

Initial Info Needed for a Rehab Loan quote:

  • Address

  • Purchase price

  • Rehab amount

  • After repair value

  • FICO score

  • Cash on hand including IRA or 401k funds

  • Number of investment properties owned and / or flips completed during the last 3 years

 

Initial Info Needed for a 24 mo bridge or 30yr Fixed Loan quote:

  • ​Address

  • Purchase price or value

  • Date Purchased (if refi)

  • Original Purchase price (if Refi)

  • FICO score

  • Actual rents per unit

  • Market rent if not leased

  • Taxes

  • Ins cost

  • HOA

  • Flood Ins Cost

 

Summary of our programs, any questions call or email:

 

Purchase and Rehab (12 months) Guidelines & Pricing:
Loan Amount: $75k-$3M
LTV of Purchase price: up to 85% for new investors or 90% LTV for experienced investors
LTC of Rehab amount: 100%
Max Loan to ARV:  up to 75%
Minimum As-Is Appraised Value: $50k
Collateral: Non-owner Occupied 1-4 Family Residential Properties; Warrantable Condos; Townhomes; Planned Unit Developments (PUDs)
Term: 12 months
Rate: Starting at 8.99%
Points: Vary based on loan amount
Credit Score: 650 Minimum
No pre-payment penalty
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Bridge Loan (24 month) Guidelines & Pricing:
Loan Amount: $75k-$3M
Minimum As-Is Appraised Value: $75k
LTV of Purchase price: up to 75%
LTV Refinance : up to 70%
LTV Refinance cash out: up to 65%
Collateral: Non-owner Occupied 1-4 Family Residential Properties; Warrantable Condos; Townhomes; Planned Unit Developments (PUDs)
Term: 24 months plus a 12 month extension 1% fee
Pre-payment penalty: 5% Prepayment Penalty First 6 Months; No Penalty Thereafter
Rate: Starting at 8.99%
Points: Vary based on loan amount
Credit Score: 650 Minimum
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Long-Term (30 yr Fixed) Rental Loan Program Guidelines:
Loan Amount: $75k-$3M
Minimum As-Is Appraised Value: $100k
Collateral: Non-owner Occupied 1-4 Family Residential Properties; Warrantable Condos; Townhomes; Planned Unit Developments (PUDs) must be rented on long term lease
Term: 30 Years, Fully Amortized
Purchase: Up to 80% LTV
Refinance: Up to 75% of the As-Is Value
Cash-Out: Up to 70% of the As-Is Value
Rate: Starting at 5.75%
Points: Vary based on loan amount
Credit Score: 680 Minimum
Programs: 30yr Fixed, 3/1, 5/1, 7/1, 10/1 ARM and Interest Only
Prepayment Penalty: 3yr or 5yr Year declining
Borrower Liquidity: 9 Months of REQUIRED PITIA Reserves
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Portfolio Long-Term (30 yr Fixed) Loan Program Guidelines
Loan Amount: Up to $10M
Property Types: Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)
Term: 30-Years
Amortization Options: 30 Year Fixed, Hybrid ARMS (3/1, 5/1, 7/1, 10/1), & 10-Year Interest-Only
Rates: Starting at 5.75%
Minimum Property Value: “As-Is” Appraised Value Must be $75k or Greater
Debt Service Coverage Ratio (DSCR) Average: 1.20 or Greater
Prepayment Penalty – Flexible 3 & 5 Year Options
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Commercial Apartments and Mixed Use Purchase and Rehab (12 months) Guidelines & Pricing:
Loan Amount: $250k-$5M
LTV of Purchase price: up to 70%
LTC of Rehab amount: 100%
Max Loan to ARV:  up to 65%
Minimum As-Is Appraised Value: $250k
Collateral: Commercial apartments 5+, Mixed use with Apartments, Condo Conversions
Term: 12 months
Rate: Starting at 8.99%
Points: Vary based on loan amount
Credit Score: 650 Minimum
No pre-payment penalty
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Available in ALL STATES except: NV, SD, ND, MN, OR, VT, HI


Borrower Parameters:

A borrower seeking a hard money loan must meet the following generally stated minimum requirements. Specific minimum requirements are set following our receipt of a loan application.

Preferred borrowers can be Corporations or Limited Liability Companies
Reasonable existing income
Reasonable cash reserves of about 10-15%
Reasonable net worth
Credit score – 650 or better
Ability to perform exit strategy required

Property Types:

Residential: Single Family non-owner occupied

Condominium: Non-owner occupied, must be warrantable

Multifamily: 2-4 unit non-owner occupied

Commercial Apartments and mixed use


Documents for Purchase and Rehab Loans:

  • Application

  • Rehab Budget Form

  • Valid ID

  • Purchase and sale agreement for the property, if already under contract

  • Sixty (60) consecutive days of statements of accounts for liquid assets

  • We will need the following documentation for the entity in which you will be vesting title: Certified Articles, Certificate of Good Standing, Executed Operating Agreement

  • Insurance policy quote for the property prior to closing

  • Contact information for your closing attorney or title company

Email scenarios to apply@capitalthreesixty.com

Capital Three Sixty LLC

7 Towpath Lane | Avon, CT 06001

Toll Free: 866.673.2300 | Tel: 860.673.2300 | Fax: 860.946.6226 | apply@capitalthreesixty.com

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