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Loan Programs

Northeast Capital Fund II

 

FLEXIBLE OPTIONS TO MEET YOUR UNIQUE SITUATION

 

What to Expect When Working with Our Capital Partners.

 

  • Expert Loan Advice

  • Communications

  • Mortgage Planning

  • Speedy Approvals

  • Strategic Mortgage Analysis

  • Competitive Rates & Fees

Fix and Flip

  • Property Types

  • SFRs, Condos, PUDs, 2-4 units

  • Loan Amounts

  • $100,000 - $5,000,000+

  • LTC

  • Up to 90% of purchase + 100% of rehab

  • LTV

  • Up to 75% of After Repair Value

  • Rate

  • Start at 7.99%

  • Points

  • 2.0% - 3.0%, depending on the loan amount and state

  • Term

  • 12 months, interest-only, no prepayment penalty, extensions available

  • Ownership

  • Held in a Corporation or LLC

  • Min Guarantor FICO

  • 650

  • Guarantor Experience

  • Previous experience preferred, new flippers considered on a case-by-case basis

  • Guarantor Background

  • No BKs or foreclosures for the past 5 years

  • Property Location

  • Nationwide except MN, ND, NV, SD, and VT.

Rental Financing

  • Property Types

  • SFRs, Condos, 2-4 units, single properties and portfolios

  • Loan Amounts

  • $75,000 - $25,000,000

  • LTC

  • 80% of purchase price or 80% LTV, 75% for refinances

  • Rate

  • Start at 5.0% for single properties, 3.5% for large portfolios

  • Points

  • 2% - 3.0%, depending on the loan amount and state

  • Term

  • 30-year fixed, 5/7/10 year ARM, or 3/5/10 year interest-only period

  • Ownership

  • Held in a Corporation or LLC

  • Min Guarantor FICO

  • 650

  • Guarantor Experience

  • Previous experience required for full leverage

  • Guarantor Background

  • No BKs or foreclosures for past 5 years

  • Property Location

  • Nationwide except MN, ND, SD, and VT.

Short-Term Commercial

  • Property Types

  • Multifamily, Office, Retail, Mixed-Use, Industrial, Self-Storage, Hospitality

  • Loan Amounts

  • $500,000 - $30,000,000+

  • Maximum LTC (including financing)

  • 85%

  • Maximum LTV (stabilized)

  • 75%

  • Reserves (as required)

  • Interest/Tax/Insurance/TILC/Capex

  • Loan Term

  • 12-36 months

  • Rate

  • 8-11%

  • Origination/Exit Fees

  • 1.5 - 2.0% / 1.0%

  • Prepayment

  • Open Prepay with Minimum Interest

  • Guaranty

  • Non-recourse with standard bad-boy carveouts

New Construction

  • Property Types

  • SFRs, Condos, PUDs, 2-4 units, Multifamily, Mixed-Use

  • Loan Amounts

  • $350,000 - $25,000,000

  • LTC

  • Up to 90% of total project cost (land + construction)

  • LTV

  • 75% of After Repair Value

  • Rate

  • 7.5-9.5%

  • Points

  • 2%, depending on loan amount and location

  • Term

  • 12-24 months, interest-only, no prepayment penalty, extensions available

  • Ownership

  • Held in a Corporation or LLC

  • Min Guarantor FICO

  • 650

  • Guarantor Experience

  • Previous experience required

  • Guarantor Background

  • No BKs or foreclosures for past 5 years

  • Property Location

  • Nationwide except MN, ND, SD, and VT.

Commercial

  • Property Types

  • Multifamily (more than 4 units) + Mixed Use*

  • Loan Amounts

  • $500,000 - $30,000,000+

  • Loan Purpose

  • Purchase or Refinance, Development

  • Loan to Cost (LTC)

  • Up to 90% of cost for refinance

  • Loan to Value (LTV)

  • Up to 80% for purchase

  • Rate

  • Starting at 2.75%

  • Points

  • 1.5%

  • Loan Term/Amortization

  • 3, 5, 7, 10 years, interest only for 1-3 years available.

  • Reserves

  • Interest/Tax/Insurance Reserves if needed

  • Third-Party Reports

  • Appraisal/Environmental Screen

  • Property Location

  • Nationwide

Need more details? Contact us

 We are here to assist. Contact us by phone, email or book-a-call.

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