Looking for Financing Specifically for Multi-Family & Mixed-Use Properties?
RCN Capital offers short-term bridge financing as well as fix and flip financing for 5+ unit apartments & mixed-use properties.
Loan Criteria
Collateral:
Multi-Family Apartment Buildings (5+ Units); Mixed-Use Properties (Residential Space is Great than 50% of Square Footage)
LTV:
Stabilized Bridge
Purchase: Up to 65% of the As is Value
Refinance: Up to 60% of the As is Value
Cash-Out: Up to 55% of the As-Is Value
Term:
12 Months (6-Month Extension Available)
Loan Amount:
$250k – $3M ($1M Max per unit)
Fix & Flip
Purchase: Up to 70% of the Purchase Price + 100% of Renovation Costs
Refinance: Up to 60% of the As-Is Value + 100% of Renovation Costs
Cash-Out: Up to 55% of the As-Is Value + 100% of Renovation Costs
Minimum Property Value:
$50k per Door
(Subject to Increase Based on Location)
FICO:
650 Minimum
ARV Loan Program Typical Leverage & Rates
Stabilized Bridge
MAXIMUM LOAN-TO-VALUE
Purchase
Up 65% of the As-Is Value
Refinance
Up to 60% of the As-Is Value
Cash-Out
Up to 55% of the As-Is Value
Fix & Flip
Maximum AFTER-REPAIR VALUE
Maximum Loan-to-Value
Experienced Customer - (Completed 3+ Flips or Owned 3+ Rentals in the last 3 Years)
Light Rehab
Purchase
Refinance
Cash-Out
Up to 65% of the ARV
Up to 55% of the ARV
Up to 50% of the ARV
Up to 70% of Purchase Price + 100% of Rehab Cost
Up to 60% of As-Is Value + 100% of Rehab Cost
Up to 55% of As-Is Value + 100% of Rehab Cost
Heavy Rehab*
Purchase
Refinance
Cash-Out
Not Permitted
Not Permitted
Not Permitted
Not Permitted
Not Permitted
Not Permitted
New Customer - (Completed < 3 Flips or Owned < 3 Rentals in the last 3 Years)
Light Rehab
Purchase
Up to 60% of the ARV
Up to 65% of Purchase Price + 100% of Rehab Cost
Experienced Customer - (Completed 3+ Flips or Owned 3+ Rentals in the last 3 Years)
Maximum AFTER-REPAIR VALUE
Light Rehab
Purchase
Up to 65% of the ARV
Refinance
Up to 55% of the ARV
Cash-Out
Up to 50% of the ARV
Maximum Loan-to-Value
Light Rehab
Purchase
Up to 70% of Purchase Price + 100% of Rehab Cost
Refinance
Up to 60% of As-Is Value + 100% of Rehab Cost
Cash-Out
Up to 55% of As-Is Value + 100% of Rehab Cost
Maximum AFTER-REPAIR VALUE
Heavy Rehab*
Purchase
Not Permitted
Refinance
Not Permitted
Cash-Out
Not Permitted
Maximum Loan-To-Value
Heavy Rehab*
Purchase
Not Permitted
Refinance
Not Permitted
Cash-Out
Not Permitted
New Customer - (Completed < 3 Flips or Owned < 3 Rentals in the last 3 Years)
Maximum AFTER-REPAIR VALUE
Light Rehab
Purchase
Up to 60% of the ARV
Maximum Loan-to-Value
Light Rehab
Purchase
Up to 65% of Purchase Price + 100% of Rehab Cost
*Rehab Budget is great than or equal to 100% of “As Is” Value (for purchase & refinance) or purchase price (of a purchase), involves more than a 20% expansion of the property of at least 750 sq ft, or involves a change of use.
Final loan terms may vary based on loan types, verification of application information, and other risk-based factors.
Recent Loans
Our Clients Do Some Amazing Work
Click on a Property to See Successfull Fix & Flip Projects.
Recent Loan – Chicago, IL
New investors that were looking to take on their first fix and flip project. They had been under contract to
Recent Loan – Decatur, GA
A new client under contract to purchase the subject property for a fix and flip. The property has been appraised
Recent Loan – Columbia, SC
An experienced borrower that was looking to take on a fix and flip project in Columbia, SC. The Return-On-Investment for
