Straightline Funding
Lending for Investors
- David Cruise
Loan Department Manager
Bridge Loan | |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | alabama, florida, georgia, illinois, indiana, missouri, north-carolina, ohio, pennsylvania, south-carolina, tennessee, texas, virginia |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $450,000 |
| Interest Rate Minimum | 11% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1.5 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 6-10 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Tenant |
| General Pricing or Guideline info | What is a Simple Bridge Loan? Simple Bridge Loans are for Investors looking to quickly purchase or refinance 1 to 4 family properties that need little to no rehab. •Perfect for Wholesaling or Wholetailing •Use for cosmetic rehabs funded out of pocket. Avoid ARV appraisals, draw fees, and wasted time •Quickly close on rental properties you plan to refinance after minor repairs and tenant placement (BRRRR) •Get cash out of a property you already own or refinance your existing loan Simple Bridge Program Summary All Levels of Investors Welcome •Rates: 11% to 12% •12 to 18 Month Terms •Interest Only Payments •Up to 85% of Purchase •Up to 75% of AS IS Value •Simple Bridge Loans Available in Metro areas of AL, FL, GA, IL, IN, MO, NC, OH, PA, SC, TN, TX & VA •Points: 1.50% to 2.00% •1 to 4 Family Properties •No Tax Returns Required •No Prepayment Penalties •680 Minimim Credit Score •5-10 Business Day Close •Purchase or Refinance •Cash Out OK |
| Updated as of | 2023-11-16 |
Construction Loan | |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | alabama, florida, georgia, illinois, indiana, missouri, north-carolina, ohio, pennsylvania, south-carolina, tennessee, texas, virginia |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $450,000 |
| Interest Rate Minimum | 11% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 2 |
| Terms | 1 year, 18 month |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| General Pricing or Guideline info | New Construction Loans •New Construction Funding for 1 to 4 Family Projects •Direct Lender •Build to Sell or Build to Rent •No Income Documentation Required Program Summary Straightline's New Construction Program provides you with fast approvals and closings. After closing we utilize a simple, flexible draw process to make sure your project stays on track. •Up to 85% of Project Cost •Rates: 11% to 12% •12 to 15 Month Terms •Interest Only Payments •Tear Down and Infill Projects OK •Up to 70% of After Construction Value •Purchase or Refinance OK •Available in metro areas of AL, FL, GA, IL, IN, MO, NC, OH, PA, SC, TN, TX & VA •Points: 2% plus processing and doc fees •1 to 4 Family Properties •No Tax Returns Required •No Prepayment Penalties •Simple Draw Process •680 Minimum Credit Score •Fast, Efficient Closings •Build to Sell or Build to Rent |
| Updated as of | 2023-11-16 |
Rehab Loan | |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | alabama, florida, georgia, illinois, indiana, missouri, north-carolina, ohio, pennsylvania, south-carolina, tennessee, texas, virginia |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $450,000 |
| Interest Rate Minimum | 11% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1.5 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 6-10 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Tenant |
| General Pricing or Guideline info | Rehab Loans for Investors •Lending for New and Experienced Investors •Direct Lender •Fast Answers and Efficient Closings •No Income Documentation Program Summary Straightline's Rehab Loan Program provides investors with fast approvals and closings. After closing we utilize a simple, flexible draw process to make sure your project stays on track. We look forward to working with you. All Levels of Investors Welcome •Rates: 11% to 12% •12 to 15 Month Terms •Interest Only Payments •Up to 90% of Purchase •Up to 75% of ARV •100% of Renovations Funded •Rehab Loans Available in metro areas of AL, FL, GA, IL, IN, MO, NC, OH, PA, SC, TN, TX & VA •1 to 4 Family Properties •No Tax Returns Required •No Prepayment Penalties •Simple Draw Process •680 Minimum Credit Score •7-10 Business Day Close •Fix to Flip or Fix to Rent |
| Updated as of | 2023-11-16 |
Bridge Loan | |
| Property Types | Condo, Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $350,000 |
| Points Minimum 1st TD | 1.5 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year |
| Typical Days Required to Fund | 6-10 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Fees | Processing Fee |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| General Pricing or Guideline info | Why Straightline Funding? ✓ Direct Private Lender ✓ Exclusively Lending to Investors since 2006 ✓ Dedicated Client Portals ✓ Transparent Pricing and Fast Closings - Loan to Cost/Value: Up to 90% LTC and 75% of After Repair Value. - Loan Purpose: Purchase or Refinance. - Loan Term: 12 or 15 months - No Prepayment Penalty or Guaranteed Interest. - No Income Verification. Bank Statements Only. - Property Appraisal: Valuation Required (typically hybrid valuations are used). - Points & Fees: 1.50% to 2.00% plus processing and doc prep. - Time to Fund: 7-10 business days. - Broker Protection: Brokers protected on current and future deals. |
| Updated as of | 2023-12-22 |
Long Term Commercial Loan | |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $75,000 |
| Loan amount Maximum | $2,000,000 |
| Credit Score Min | 680 |
| Interest Only or Amortized | Amortized and Interest Only Options available |
| Lien Position | 1st |
| General Pricing or Guideline info | DSCR Rental Loans for Investors •30 Year Fixed Rate Terms •Purchase, Rate/Term or Cash Out •Fast Answers and Efficient Closings •No Income Documentation Required Why Use "DSCR (Debt Service Coverage Ratio)" Rental Loans? •No Income Verification. Straightline doesn't measure your personal debt to income ratio or collect tax returns. •Loans close in your entity name vs. your personal name. Conventional lenders do not allow you to close under your LLC or Corporation. •No Reporting to Credit Bureaus. Keep your personal credit clear of your business mortgages! •No limitations on number of properties financed. No roadblocks because you have financed several properties. •Close in weeks instead of months! Our closing process removes tedious underwriting requirements and paperwork! |
| Updated as of | 2023-11-16 |
Summary of all Guidelines | |
| Loan Types | Bridge Loan, Commercial Loan, Construction Loan, DSCR Loan, Rehab Loan |
| Property Types | 2-4 Units, SFR |
| Lendding Area | alabama, arkansas, colorado, connecticut, delaware, florida, georgia, illinois, indiana, kansas, kentucky, louisiana, maine, maryland, michigan, missouri, montana, ohio, oklahoma, pennsylvania, rhode-island, south-carolina, tennessee, texas, virginia, wisconsin |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $1,000,000 |
| Interest Rate Minimum | 10% |
| Terms | 1 year, 18 months |
| Interest Only or Amortized | Interest Only, Amoritzed |
| LTV Bridge | 65 |
| LTC Construction | 80 |
| Upfront Fees | Appraisal |
| ARV Rehab & Construction | 65 |
| LTC Rehab | 90 |
| LTV Long Term Rental | 80 |
| Personal Guarantee /Recourse Required | Personal Guarantee Not Required / Non-Recourse |
| Intended Occupancy | Vacant, Tenant |
| Percentage of Budget Financed - Rehab | 100 |
| LTC Percentage of Budget Financed | 100 |
We lend exclusively to real estate investors for renovation projects, wholesaling, rental, new construction and other opportunistic investments. We provide great service and have competitive rates and terms.
Straightline Funding is located in Matthews, NC. They offer financing for Bridge Loans, Construction Loans, Commercial Loans, DSCR Loans and Rehab Loans. The property type they primarily lend against is SFR and 2-4 Units. Their minimum loan amount is $50,000. Their maximum loan amount is $1,000,000. Maximum duration of 1 year;18 months. Although rates can change they are typically lending at a minimum rate of 10%.
These descriptions are limited information and meant for general reference purposes.
250 N. Trade St, Suite 209
Matthews,
NC
28105
