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Short Term Multi Family

Loan Program

Short Term Multi Family Loans

FundRock Capital offers short-term bridge financing, fix and flip financing, & long-term rental financing for 5+ unit apartments.

LOAN CRITERIA

LOAN CRITERIA

Collateral

Multi-Family Apartment Buildings (5+ Units); Mixed-Use Properties (Residential Space Must Represent 70%+ of the Property's Total Square Footage)

Term:

6 - 24 Month Terms

Loan Amount:

Short-Term: $250k – $2.5M ($1M Max per unit)

FICO:

Short-Term: 660 Minimum

LTV:
Stabilized Bridge

Purchase: Up to 75% of the As-Is Value Refinance: Up to 70% of the As-Is Value Cash-Out: Up to 65% of the As-Is Value

Fix & Flip

Purchase: Up to 80% 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 70% of the As-Is Value + 100% of Renovation Costs

Short Term Multi-Family
Loan Program Typical Leverages

FIX & FLIP PROGRAM

EXPERIENCED CUSTOMER
(Completed 5+ Flips in the Last 3 Years)

PURCHASE

PURCHASE

LIGHT REHAB
MAXIMUM LOAN-TO-VALUE
Up to 80% of Purchase Price
+ 100% of Rehab Costs
MAXIMUM AFTER-REPAIR VALUE
Up to 70% Loan-to-Cost
 
 
Up to 80% of Purchase Price
+ 100% of Rehab Costs
Up to 70% Loan-to-Cost
 
 
HEAVY REHAB*
MAXIMUM LOAN-TO-VALUE
Up to 70% of Purchase Price
+ 100% of Rehab Costs
MAXIMUM AFTER-REPAIR VALUE
Up to 65% of the ARV
Up to 70% of Purchase Price
+ 100% of Rehab Costs
Up to 65% of the ARV

REFINANCE

REFINANCE

MAXIMUM LOAN-TO-VALUE
Up to 70% of Purchase Price
+ 100% of Rehab Costs
MAXIMUM AFTER-REPAIR VALUE
Up to 60% of the ARV
 
 
Up to 70% of Purchase Price
+ 100% of Rehab Costs
Up to 60% of the ARV
 
 
MAXIMUM AFTER-REPAIR VALUE
Not Permitted
MAXIMUM AFTER-REPAIR VALUE
Not Permitted
 
 
Not Permitted
Not Permitted
 
 

CASHOUT

CASHOUT

MAXIMUM LOAN-TO-VALUE
Up to 70% of Purchase Price
+ 100% of Rehab Costs
MAXIMUM AFTER-REPAIR VALUE
Up to 60% of the ARV
 
 
Up to 70% of Purchase Price
+ 100% of Rehab Costs
Up to 60% of the ARV
 
 
MAXIMUM AFTER-REPAIR VALUE
Not Permitted
MAXIMUM AFTER-REPAIR VALUE
Not Permitted
 
 
Not Permitted
Not Permitted
 
 

*Rehab Budget is greater than 100% and less than 150% of the lower of “As Is” value (purchase and refinance) or purchase price (if a purchase), is a condo conversion, involves more than 20% expansion of the property of at least 750 square feet, or involves a change of use.

 

NEW CUSTOMER

(Completed < 3 Flips in the Last 3 Years)

PURCHASE

PURCHASE

LIGHT REHAB
MAXIMUM LOAN-TO-VALUE
Up to 70% of Purchase Price
+ 100% of Rehab Costs
MAXIMUM AFTER-REPAIR VALUE
Up to 65% of the ARV
Up to 70% of Purchase Price
+ 100% of Rehab Costs
Up to 65% of the ARV

READY TO GET STARTED?

Apply Now

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