Redondo Beach, CA
- Portfolio or Single Asset loans
- 30 year loans, fixed for 5, 7, or 10 years
- Interest only for fixed period
- Min. FICO: 600
- Max LTV: 75-80% (Purchase, R & T, Cash-Out)
- Property Types: SFR, 2-4 units, Condos, PUD’s, Townhomes
- Loans to individuals or entities
- Currently lending in AZ, CA, CO, FL, GA, HI, ID, IL, NC, NJ, NV, OR, PA, SC, TN, TX, UT, VA & WA; more states to come
- Non-owner occupied only
- Stabilized rental properties (leased or soon-to-be leased)
- Bank statements only / no personal income verification
- No DTI requirements for borrower
- Non-Recourse available
- Minimal DSCR requirements
- Lender Fee: $1,195
- No yield maintenance – sliding pre-pay only
ELIGIBLE LOCATIONS MSA’S in the following states: AZ, CA, CO, FL, GA, HI, NC, NV, OR, SC, TN, TX, UT, WA
PROPERTY TYPES Multifamily 5-100 Units
LOAN AMOUNT $500k to $10MM
LOAN TERM 1, 2 and 3 year loans
AMORTIZATION Fixed rate, interest only
LTC/LTV Up to 75% Loan to Cost and maximum 70% Loan to Value of stabilized value
DSCR Stabilized minimum 1.25x DSCR underwritten cash ﬂow using prevailing rates at market rents
PROCESSING FEES $1,500 paid at closing
RESERVES No Rehab Component – Stabilized Property: 6 months interest
No Rehab Component – Non-Stabilized: 8 months interest
Extensive Rehab Loans/No Rehab Advance: 12 months interest + 100% of rehab budget
Extensive Rehab Loans/Rehab Advance: 12 months interest + 20% of rehab budget
SPONSOR / BORROWER Creditworthy individual(s) or entity acceptable to Lender with sufficient liquidity and net worth
BORROWING ENTITY LLC, Corporation, Trust (SPE may be required at lender’s discretion)
RECOURSE Non-recourse, with the exception of industry standard “bad boy” carve outs
PREPAYMENT 1yr loans: no minimum interest | 2yr loans: 8 months minimum interest | 3yr loans: 12 months minimum interest
- Non-owner Occupied Only
- Lending in AZ, CA, CO, FL, GA, HI, ID, NC, NV, OR, SC, TN, TX, UT, VA & WA; more states to come
- Purchase, Refinance, Cash Out, Rehab
- 75-80% LTV
- $100K-$7.5 Million
- SFR, 1-4, 5+, Condos
- Interest Only Payments
- Stated Income/Bank Statements Only
- No Minimum FICO Requirements
South Windsor, CT 06074
RCN Capital offers short-term and long-term financing options for real estate investors. Whether you are looking to fix & flip properties or hold properties for rental income, RCN has flexible options that are suited to your needs.
FIX AND FLIP
OUR HARD MONEY LOAN PRODUCTS
We’ve designed a range of products to suit every type of residential real estate investor, from fix and flip to cash-out refinance loans, and many more. So whether you’re flipping a home in New York, or cashing out property wealth in Florida, we’ve got a competitively priced product for you.
Fix & Flip Loans
Fix & Flip loans allow the borrower to make a quick return on their investment while stimulating communities – We Lend is proud to support the cause! We Lends Fix & Flip program allows the borrower to invest as little as 10%. We offer up to 90% of the borrower’s purchase price and 100% of the renovation cost in as little as 3-7 business days. Prior to finding We Lend, many of our borrowers would search for investors/partners with capital; in return for the investors/partners’ capital, the borrower shared 50% of their profits. We Lend views our borrowers as our partners, however, our borrowers keep 100% of the profits!
Inquire about our ZERO point program
No upfront fees
No prepay penalties
No bank statements or tax returns needed
Tenant or Squatter occupied property? No problem!
No access into the property? No problem!
Proof of funds needed? No problem!
No experience? No problem!
Loans funded in 3-7 business days!
Construction Loans are a great source of capital for investors who are purchasing or own properties that need extensive construction or renovation. It is common that the extent of the construction prevents a traditional bank from financing such properties. We Lend’s philosophy is different. We Lend views a Construction Loan as a means to improve and revitalize a community while helping the investor on their journey to profitability and generational wealth.
Experts say that the best way to build wealth is by generating recurring monthly revenue – there is no better way to do just that than acquiring rental properties. We Lend is a big advocate of building wealth and our rental program is here to assist in achieving that goal. Our Rental Loan Product is underwritten as a hard money loan but with traditional type terms and rates. Let’s build wealth!
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