Hard Money Loans

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The Lowdown on Hard Money Loans...

ASAP-Funding offers a wide variety of loans for the real estate investor looking to purchase, Buy & Hold or rehab an investment property. Our full offering of Fix & Flip, Bridge, Multi-Family, Cash-Out, and Buy & Hold loan programs provide investors the ability to capitalize on real estate opportunities that exist across our entire lending area.

Fix & Flip Loans

Fix & Flip Loans

  • Loan Amount => $250,000 – $3,000,000
  • Property Type => 1-4 Unit Residential & Condos / Townhouses
  • Occupancy => Non-Owner occupied
  • Term => 12-24 months
  • Lien => Position 1st Position
  • Interest => Rate Starting at 7.95%
  • Points => Starting at 2.5 points
  • Loan-to-Value => Up to 70% of Purchase Price
  • Rehab => Up to 100% of the rehab budget for an experienced borrower
  • Minimum FICO => 600
  • Borrower Bankruptcy => None in Past 2 Years
Bridge Loans

Bridge Loans

  • Loan Amounts => $100,000 – $3,000,000
  • Property Types => SFR’s, Condos, Condotels, Townhouses 2 to 4 units
  • Purpose => Business Purpose Only
  • Occupancy => Non-Owner Occupied
  • Interest Rate => Starting at 7.95%
  • Points => Starting at 2 points
  • Lien Position => 1st Position
  • Loan Term => 6 to 24 Months
  • Loan To Value => Up to 70%
  • Income documentation => No income verified
  • Property Condition => Minimal deferred maintenance
  • Recourse => Yes, personal guarantee required
  • Liens & Judgements => All income tax liens and judgments over $2500 must be paid
Multi-Family Rehab

Multi-Family Rehab

Our Multi-Family rehab loan is perfect for investors who need capital to rehab, stabilize rent rolls and attain conventional financial.

  • Loan Amount Min & Max Amount => $2,000,000 – $20,000,000
  • Property Type => 5 to 100+ units
  • Construction Loan Amount => 33% of loan amount (preferred)
  • Stabilized LTV => Up to 70%
  • Stabilized Debt Yield at Exit => 8%+
  • Stabilized DSCR @ Exit => 1.25x
  • Loan Term => 18 to 36 Months
  • Loan Rate Index => Starting at 7.5%
  • Points Starting at 2 points
  • Loan To Cost => Up to 85% (adjustment up to 75% for heavy rehab)
  • Recourse => Non-recourse on case-by-case basis
  • Min Yield Maintenance => 6 Months (typically 75% of initial term)
  • Reserves (as required) => Interest / Tax / Insurance / TILC / Capex
  • Borrower Experience => Must have prior experience
  • Borrower Bankruptcy => None in Past 5 Years
  • Min Guarantor Liquidity / Net Worth => 15% of loan size
Multi-Family Rehab

Buy & Hold Loans

  • Loan Amount => $100,000 – $5,000,000
  • Property Type => SFR 1-4 units / Condo / Retail / Multi-Family & Mixed-Use / Warehouse / Self Storage / Automotive
  • Purpose => Purchase, Rate-Term Refinance, Cash-Out Refinance
  • SFR Max Loan Amount => $1,500,000
  • 2-4 Unit Max Loan => $2,000,000
  • Multi-Family / Mixed-use => $5,000,000
  • Term => 3 year or 8 year Fixed interest only each amortized over 30 years
  • Prepayment Penalty => 3-year fixed: 3% penalty within first 3 years / 8-year fixed: 5% penalty within first 5 years
  • Interest Rate => Starting at 6.99%
  • Points => Starting at 1.5 points
  • Minimum Credit Score => 620
  • Loan To Cost => Up to 75% LTV on purchases
  • Borrower Experience => No experience = 5% LTV reduction for all property types
  • Borrower Bankruptcy => Ok

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