Finance of America Commercial
- Katina Magac
Rehab Loan | |
| Property Types | 2-4 Units, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $5,000,000 |
| Terms | 1 year, 18 month |
| Credit Score Min | 660 |
| Lien Position | 1st |
Long Term Rental Loan | |
| Property Types | 2-4 Units, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $75,000 |
| Loan amount Maximum | $2,500,000 |
| Interest Rate Minimum | 7.25% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 2 |
| Terms | 5 / 6 month ARM, 7 / 6 month ARM, 10 / 6 month ARM, 30 year |
| Credit Score Min | 660 |
| Lien Position | 1st |
Bridge Loan | |
| Property Types | 2-4 Units, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $75,000 |
| Loan amount Maximum | $1,500,000 |
| Interest Rate Minimum | 9.75% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year, 18 month |
| Credit Score Min | 660 |
| Lien Position | 1st |
| Recourse | Recourse and Non Recourse available |
Rehab Loan | |
| Property Types | 2-4 Units, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $5,000,000 |
| Terms | 1 year, 18 month |
| Credit Score Min | 660 |
| Lien Position | 1st |
| Recourse | Recourse |
Bridge Loan | |
| Property Types | 2-4 Units, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $75,000 |
| Loan amount Maximum | $1,500,000 |
| Interest Rate Minimum | 9.75% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year, 18 month |
| Credit Score Min | 660 |
| Lien Position | 1st |
| Recourse | Recourse and Non Recourse available |
Summary of all Guidelines | |
| Loan Types | Private Money |
| Property Types | 2-4 Units, Multi Family, SFR |
| Lendding Area | alaska, arkansas, california, colorado, connecticut, delaware, florida, georgia, hawaii, idaho, illinois, indiana, iowa, kansas, kentucky, louisiana, maine, maryland, massachusetts, mississippi, montana, nebraska, new-hampshire, new-jersey, new-mexico, north-carolina, oregon, rhode-island, south-carolina, tennessee, texas, washington |
| States Excluded | Maine, North Dakota, South Dakota, Utah, Vermont |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $5,000,000 |
| Interest Rate Minimum | 7.25% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 2 |
| Terms | 30 years |
| Credit Score Min | 660 |
| LTC Construction | 90 |
| ARV Rehab & Construction | 70 |
| LTC Rehab | 100 |
| LTV Long Term Rental | 80 |
| Land LTV & LTC with development | 75 |
| Percentage of Budget Financed - Rehab | 100 |
| LTC Percentage of Budget Financed | 100 |
Finance of America Commercial is located in New York, New York. They offer financing for Private Money. The property type they primarily lend against is Multi Family, SFR and 2-4 Units. Their minimum loan amount is $50,000. Their maximum loan amount is $5,000,000. They offer loans for a minimum Term of 1 year. Maximum duration of 30 years. Although rates can change they are typically lending at a minimum rate of 7.25%. Maximum interest rate of 12%. Points charged are deal specific, but historically have charged a minimum of 1. Maximum points charged are 2.
These descriptions are limited information and meant for general reference purposes. 645 Madison Avenue, 19th Floor
New York,
New York
10022
©2024 Finance of America Commercial is part of the Roc360 family of companies. A Roc360 affiliate is licensed as a California Finance Lender under Department of Financial Protection and Innovation 60DBO-69051, Arizona Commercial Mortgage Banker License 1002735, Florida Mortgage Lender Servicer License MLD1778, Nevada Mortgage Company (License #5100), North Carolina Loan Broker Registration Filing 315, West Virginia State Tax Department, Account #2410-0931. NMLS Company ID 1804080. *Rates advertised are the lowest offered. Actual rates and offers may vary based on approval criteria, including but not limited to borrower FICO score, previous experience, period of ownership, etc. All rights reserved. Equal housing lender.
