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 75% of the As is Value
Refinance: Up to 72.5% of the As is Value
Cash-Out: Up to 70% of the As-Is Value
Term:
12 Months (6-Month Extension Available)
Loan Amount:
$250k – $5M ($1M Max per unit)
Fix & Flip
Purchase: Up to 80% of the Purchase Price + 100% of Renovation Costs
Refinance: Up to 70% of the As-Is Value + 100% of Renovation Costs
Cash-Out: Up to 67.5 of the As-Is Value + 100% of Renovation Costs
Minimum Property Value:
$40k per Door
(Subject to Increase Based on Location)
FICO:
600 Minimum
ARV Loan Program Typical Leverage & Rates
Stabilized Bridge
MAXIMUM LOAN-TO-VALUE
Purchase
Up 75% of the As-Is Value
Refinance
Up to 72.5% of the As-Is Value
Cash-Out
Up to 70% 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 70% of the ARV
Up to 67.5 of the ARV
Up to 65% of the ARV
Up to 80% of Purchase Price + 100% of Rehab Cost
Up to 70% of As-Is Value + 100% of Rehab Cost
Up to 67.5% of As-Is Value + 100% of Rehab Cost
Heavy Rehab*
Purchase
Refinance
Cash-Out
Up to 65% of the ARV
Up to 62.5% of the ARV
Not Permitted
Up to 75% of As-Is Value + 100% of Rehab Cost
Up to 67.5% of As-Is Value + 100% of Rehab Cost
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 70% 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 70% of the ARV
Refinance
Up to 67.5 of the ARV
Cash-Out
Up to 65% of the ARV
Maximum Loan-to-Value
Light Rehab
Purchase
Up to 80% of Purchase Price + 100% of Rehab Cost
Refinance
Up to 70% of As-Is Value + 100% of Rehab Cost
Cash-Out
Up to 67.5% of As-Is Value + 100% of Rehab Cost
Maximum AFTER-REPAIR VALUE
Heavy Rehab*
Purchase
Up to 65% of the ARV
Refinance
Up to 62.5% of the ARV
Cash-Out
Not Permitted
Maximum Loan-To-Value
Heavy Rehab*
Purchase
Up to 75% of As-Is Value + 100% of Rehab Cost
Refinance
Up to 67.5% of As-Is Value + 100% of Rehab Cost
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 70% 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.
Multi-Unit Residential
Repeat borrower and experienced investor with 3+ verified real estate investment properties completed was looking for the funds to purchase
Single-Family Residential
New investor with RCN who has invested in over 70 properties was looking for the funds to renovate this 6-unit apartment building. RCN Capital was able to provide a loan at 66% of the After-Repair Value and 100% of the renovation costs. Once the project is complete the investor is anticipating a 25% Return-On-Investment.
Single-Family Residential
Investor is an experienced flipper who is looking to take on a new project. RCN Capital was able to provide a loan at 75% of the After-Repair Value with 100% of the renovation costs funded. Once the project is complete the investor is anticipating a 10% return on investment.
