Multi-Family Loans

Short-term & long-term financing for 5+ unit
apartments and mixed-use properties.

Looking for Financing Specifically for Multi-Family & Mixed-Use Properties?

RCN Capital offers short-term bridge financing, fix and flip financing, & long-term rental 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 80% of the As is Value
Refinance: Up to 75% of the As is Value
Cash-Out: Up to 65% of the As-Is Value

Term:

18 Months (Extended Terms Available)
30-Years (Amortization Options Available)

Loan Amount:

Short-Term: $250k – $10M ($1M Max per unit)
Long-Term: 
$250k – $3M

Fix & Flip

Purchase: Up to 85% of the Purchase Price + 100% of Renovation Costs
Refinance: Up to 75% of the As-Is Value + 100% of Renovation Costs
Cash-Out: Up to 65% of the As-Is Value + 100% of Renovation Costs

FICO:

Short-Term: 620 Minimum
Long-Term: 680 Minimum

Long-Term

Purchase: Up to 75% of the As-Is Value
Refinance: Up to 75% of the As-Is Value
Cash-Out: Up to 70% of the As-Is Value

Loan Program Typical Leverage & Rates

Stabilized Bridge

MAXIMUM LOAN-TO-VALUE

Purchase

Up 80% of the As-Is Value

Refinance

Up to 75% of the As-Is Value

Cash-Out

Up to 65% 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 75% of the ARV

Up to 65% of the ARV

Up to 60% of the ARV

Up to 85% of Purchase Price + 100% of Rehab Costs

Up to 75% of As-Is Value + 100% of Rehab Costs

Up to 65% of As-Is Value + 100% of Rehab Costs

Heavy Rehab*

Purchase

Refinance

Cash-Out

Up to 65% of the ARV

Up to 60% of the ARV

Not Permitted

Up to 75% of the Purchase Price + 100% of Rehab Costs

Up to 65% of As-Is Value + 100% of Rehab Costs

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 65% of the ARV

Cash-Out

Up to 55% of the ARV

Maximum Loan-to-Value

Light Rehab

Purchase

Up to 80% of Purchase Price + 100% of Rehab Costs

Refinance

Up to 70% 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 65% of the ARV

Refinance

Not Permitted

Cash-Out

Not Permitted

Maximum Loan-To-Value

Heavy Rehab*

Purchase

Up to 70% 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.

Long-Term Rental

FICO Maximum Loan-to-Value (LTV) Maximum Loan-to-Cost (LTC)
Purchase 700+ Up to 75% of the As-Is Value Up to 75% Loan-to-Cost
680 - 699 Up to 70% of the As-Is Value Up to 70% Loan-to-Cost
FICO Maximum Loan-to-Value (LTV)
Refinance 700+ Up to 75% of the As-Is Value
680 - 699 Up to 70% of the As-Is Value
FICO Maximum Loan-to-Value (LTV)
Cash - Out 700+ Up to 70% of the As-Is Value
680 - 699