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.

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 avialable to brokers, any questions call or email:

Purchase and Rehab Fix and Flip (12-18 months):
Loan Amount: $75k-$3M
LTV of Purchase price: up to 75% 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: 1-4 Family Residential Properties, Condos or Townhomes
Term: 12-18 months
Rate: Starting at 10.99%
Points: Vary based on loan amount
Credit Score: 650 Minimum

No pre-payment penalty
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Bridge Loan (18 month):
Loan Amount: $50k-$3M
Minimum As-Is Appraised Value: $50k
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
Term: 12-18 months
No Pre-Payment Penalty
Rate: Starting at 10.99%
Points: Vary based on loan amount
Credit Score: 650 Minimum
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Long-Term Rental Loan (30yr Fixed Rate):
Loan Amount: $75k-$3M
Minimum As-Is Appraised Value: $100k
Collateral: 1-4 Family Residential Properties, Condos or Townhomes
Term: 30 Years, Fully Amortized
Purchase: Up to 80% LTV
Refinance: Up to 75% of the As-Is Value
Cash-Out: Up to 75% of the As-Is Value
Vacation Rental Properties (STR AirBNB allowed)
Portfolio Loans for: 2+ Properties (Average property value $100k)
Rate: Starting at 6.49%
Points: Vary based on loan amount
Credit Score: 680 Minimum
Term: 30yr Fixed, 5/1, 7/1, 10/1 ARM and Interest only options
Prepayment Penalty: 1yr to 5yr Year declining options (5,4,3,2,1%)
Borrower Liquidity: 9 Months of PITIA Reserves
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Commercial Apartments or Mixed Use Purchase and Rehab (12-18 months):
Loan Amount: $250k-$5M
LTV of Purchase price: up to 80%
LTC of Rehab amount: 100%
Max Loan to ARV: up to 70%
Minimum As-Is Appraised Value: $250k
Collateral: Commercial apartments 5+, Mixed use with Apartments or Conversions
Term: 12-18 months
Rate: Starting at 10.99%
Points: Vary based on loan amount
Credit Score: 680 Minimum
No pre-payment penalty
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Commercial Apartments 5-9 Units (30 yr Fixed):
Loan Amount: $250k-$5M
LTV of Purchase price: up to 67.5%
LTV Rate and Term refinance: up to 65%
LTV Cash out Refinance: up to 60%
Minimum As-Is Appraised Value: $250k
Collateral: Commercial apartments 5-9 units
Rate: Starting at 7.25%
Points: Vary based on loan amount
Term: 30yr Fixed, 5/1, 7/1, 10/1 ARM and Interest only options
Credit Score: 680 Minimum
Prepayment Penalty: 1yr to 5yr Year declining options (5,4,3,2,1%)

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Available in ALL STATES except: AK, MN, NV, ND, SD, VT (AZ, CA, OR require Broker License)

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

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