Residential Lending Terms
Low Tide Private Lending prides itself as the premier residential private money lender by providing our borrowers with competitive rates, quick service and complete transparency.
SFR Fix and Flip Loans
PURPOSES:
Acquisition and rehab, expansion/remodel, value add repositioning, bridge to refinance, cash-out refinance, new construction.
TERM:
6 or 12 months based on the property and experience
INTEREST:
10%-14% depending upon experience and credit score
CREDIT SCORE:
Minimum of 600, lower credit scores will be evaluated on a case by case basis
LENDER FEES:
2.00%-4.00% depending upon term plus a processing fee of $500
OTHER COSTS:
Appraisal and any other third party reports that may be required
QUALIFICATION:
Asset based with limited financial information required
CLOSING:
In most cases, we can close within one or two business day of having a complete, eligible loan file including clear title and a completed appraisal, we typically ask for 10 business days to close
LOAN-TO-COST :
Up to 100% depending on experience
LOAN-TO-VALUE:
Up to 75% depending on experience and scope of rehab
CASH OUT REFIS:
Up to 70% of value in primary markets on a sellable or rentable asset; secondary markets on a case by case basis
PROPERTY TYPES:
Single-family, 2-4 unit residential, townhomes and condos
