Updated over 9 years ago on . Most recent reply
We have lines of credit and loans from $50,000 -$5,000,000.
Lines of credit and loans from $50,000 -$5,000,000 (allowing you to purchase several properties within a 12 month period)
-Fund lesser of 80% of Acquisition and Rehab Costs or 65% of After Repair Value (ARV) on Residential Properties (1-4 units). We fund rehab draws up to 80% of the rehab costs.
-Fund lesser of 75% of Acquisition and Rehab Costs or 60% of ARV on Multifamily Properties (5-30 units)
-No application fee for credit line approval
-Monthly payments are interest only
-No prepayment penalty (3 months minimum interest)
-12%, 2 points on each draw
-Currently lending in approximately 48 states (exclusions include CA and NV)
-We only lend on Non-Owner Occupied Properties
-Borrower must have prior investment property experience
-Experience: Borrower must have previously purchased at least 2 investment properties.
-Liquidity: Cash to fund their equity requirement / Must have 20% of loan request in verifiable liquid assets.
Minimum FICO 620.
Minimum Net Worth: $150,000.
We will evaluate substantial credit issues, foreclosures/short sales.
Borrower must be free of significant open judgments and pending litigation.
Contact me for more info and to start the process today.
Jonathan Casillas
Foxworth Commercial Capital Sales Director
www.foxworthcommercialcapital.com
Conference Line1-302-202-1108 (156465)
Private Funding for Projects: $10 million to $5 billion