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 70% of the As is Value
Refinance: Up to 65% 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 – $5M ($1M Max per unit)
Fix & Flip
Purchase: Up to 75% of the Purchase Price + 100% of Renovation Costs
Refinance: Up to 65% of the As-Is Value + 100% of Renovation Costs
Cash-Out: Up to 60% 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 70% of the As-Is Value
Refinance
Up to 65% 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 70% of the ARV
Up to 60% of the ARV
Up to 55% of the ARV
Up to 75% of Purchase Price + 100% of Rehab Costs
Up to 65% of As-Is Value + 100% of Rehab Costs
Up to 60% of As-Is Value + 100% of Rehab Costs
Heavy Rehab*
Purchase
Refinance
Cash-Out
Up to 60% of the ARV
Not Permitted
Not Permitted
Up to 65% of the Purchase Price + 100% of Rehab Costs
Not Permitted
Not Permitted
New Customer - (Completed < 3 Flips or Owned < 3 Rentals in the last 3 Years)
Light Rehab
Purchase
Up to 65% 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 60% of the ARV
Cash-Out
Up to 55% of the ARV
Maximum Loan-to-Value
Light Rehab
Purchase
Up to 75% of Purchase Price + 100% of Rehab Costs
Refinance
Up to 65% of As-Is Value + 100% of Rehab Costs
Cash-Out
Up to 60% of As-Is Value + 100% of Rehab Costs
Maximum AFTER-REPAIR VALUE
Heavy Rehab*
Purchase
Up to 60% of the ARV
Refinance
Not Permitted
Cash-Out
Not Permitted
Maximum Loan-To-Value
Heavy Rehab*
Purchase
Up to 65% of the Purchase Price + 100% of Rehab Costs
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 65% 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.
Check Out This Long-Term Rental In Mesquite, Texas!
A repeat borrower and experienced investor is looking to refinance existing debt on a subject property and cash-out to fund
Don’t Miss This SFR Purchase In Atlanta, GA!
An experienced borrower and realtor who lives and rehabs in her local market of Atlanta, GA is looking to purchase
Look At This SFR Completed in Rockmart, Georgia!
An experienced borrower was looking to purchase and rehab a Single-Family Residential (SFR) subject property in Rockmart, Georgia. RCN Capital
