FAQs
Frequently Asked Questions...
About StrongCo Holdings® Capital
- Term: 12 Month & 18 Month Loans
- Loan Amount: $50k – $10M
- Minimum Property Value: $75k for 1-4 Family Properties $50k per unit for 5+ Unit Multis
- Rates: Starting at 10.24%
- LTV for Purchase: Up to 75% of the As-Is Value
- LTV for Refinance: Up to 65% of the As-Is Value
- LTV for Cash-Out: Up to 60% of the As-Is Value
- Property Types: Residential 1-4 Units; Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
- Occupancy: Non-Owner Occupied
- Minimum FICO: 620
- Term: 12 Months
- Loan Amount: $50k – $10M
- Minimum Property Value: $50k
- Rates: Starting at 10.24%
- LTV: Up to 70% of After Repair Value
- LTC (Loan-to-Cost): Up to 85% of Purchase Price, Up to 100% of Rehab Costs
- FICO: 620 Minimum Credit Score
- Property Types: Residential 1-4 Units; Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
- Occupancy: Non-Owner Occupied
- Termination Fee: 1% After Month 9
- No Pre-Pay Penalty
- Experience Not Required but Does Affect Pricing & Leverage
- Term: 30 Years
- Loan Amount: $65k to $2M
- Minimum Property Value: $100k
- Rates: Starting at 6.49%
- LTV for Purchase: The Lesser of up to 80% of As-Is Value or up to 80% Loan-to-Cost
- LTV for Refinance: Up to 80%
- LTV for Cash-Out: Up to 75%
- Property Types: Residential 1-4 Units; Condos; Townhomes; Planned Unit Development (PUD)
- Pre-Pay Penalty: Prepays Adjustable Up to 5 Years
- Minimum FICO: 680
- Term: 30 Years
- Loan Amount: $100k to $2M
- Rates: Starting at 7.25%
- LTV for Purchase: The Lesser of up to 67.5% of As-Is Value or up to 67.5% Loan-to-Cost
- LTV for Refinance: Up to 67.5%
- LTV for Cash-Out: Up to 65%
- Property Types: Non-Owner Occupied Multi-Family Real Estate; 5+ Unit Apartments; Maximum 9 Units
- Pre-Pay Penalty: Prepays Adjustable Up to 5 Years
- Minimum FICO: 680
- Term: 12 – 24 Months
- Loan Amount: $100k to $2M
- Rates: Starting at 11.29%
- LTV for Purchase: Up to 80% of Initial Advance; Up to 90% Total Loan-to-Cost
- LTV for Refinance: Up to 75% of Initial Advance; up to 90% Total Loan-to-Cost
- Property Types: Non-Owner Occupied Single-Family Properties; Condos; Townhomes
- Pre-Pay Penalty: N/A
- Minimum FICO: 650
StrongCo Holdings® Capital's Loan Programs
SIL Capital is an asset-based lender and loan amounts are based on the value of the real estate asset that is being pledged as collateral. Max loan-to-value varies by loan program. Please refer to the “Loan Programs” tab of SIL’s website for more details.
SIL Capital’s terms vary by loan program. Here is a basic breakdown of SIL’s most popular programs:
Short-Term Bridge
- Term: 12 Month & 18 Month Loans
- Loan Amount: $50k – $10M
- Minimum Property Value:
$75k for 1-4 Family Properties
$50k per unit for 5+ Unit Multis - Rates: Starting at 10.24%
- LTV for Purchase: Up to 75% of the As-Is Value
- LTV for Refinance: Up to 65% of the As-Is Value
- LTV for Cash-Out: Up to 60% of the As-Is Value
- Property Types: Residential 1-4 Units; Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
- Occupancy: Non-Owner Occupied
- Minimum FICO: 620
After Repair Value (ARV) Loan Program
- Term: 12 Months
- Loan Amount: $50k – $10M
- Minimum Property Value: $50k
- Rates: Starting at 10.24%
- LTV: Up to 70% of After Repair Value
- LTC (Loan-to-Cost): Up to 85% of Purchase Price, Up to 100% of Rehab Costs
- FICO: 620 Minimum Credit Score
- Property Types: Residential 1-4 Units; Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
- Occupancy: Non-Owner Occupied
- Termination Fee: 1% After Month 9
- No Pre-Pay Penalty
- Experience Not Required but Does Affect Pricing & Leverage
Long-Term Rental Loan Program
- Term: 30 Years
- Loan Amount: $65k to $2M
- Minimum Property Value: $100k
- Rates: Starting at 6.49%
- LTV for Purchase: The Lesser of up to 80% of As-Is Value or up to 80% Loan-to-Cost
- LTV for Refinance: Up to 80%
- LTV for Cash-Out: Up to 75%
- Property Types: Residential 1-4 Units; Condos; Townhomes; Planned Unit Development (PUD)
- Pre-Pay Penalty: Prepays Adjustable Up to 5 Years
- Minimum FICO: 680
Long-Term Rental Multi-Family Loan Program
- Term: 30 Years
- Loan Amount: $100k to $2M
- Rates: Starting at 7.25%
- LTV for Purchase: The Lesser of up to 67.5% of As-Is Value or up to 67.5% Loan-to-Cost
- LTV for Refinance: Up to 67.5%
- LTV for Cash-Out: Up to 65%
- Property Types: Non-Owner Occupied Multi-Family Real Estate; 5+ Unit Apartments; Maximum 9 Units
- Pre-Pay Penalty: Prepays Adjustable Up to 5 Years
- Minimum FICO: 680
- Term: 12 – 24 Months
- Loan Amount: $100k to $2M
- Rates: Starting at 11.29%
- LTV for Purchase: Up to 80% of Initial Advance; Up to 90% Total Loan-to-Cost
- LTV for Refinance: Up to 75% of Initial Advance; up to 90% Total Loan-to-Cost
- Property Types: Non-Owner Occupied Single-Family Properties; Condos; Townhomes
- Pre-Pay Penalty: N/A
- Minimum FICO: 650
SIL Capital is able to lend to most states in the U.S. with the exception of Alaska, Nevada, North Dakota, South Dakota, Minnesota and Vermont.
SIL requires basic documentation to underwrite the borrower and the property. This includes an application; authorization to run a credit report and background check; copies of bank statements (proof of funds); property appraisal; copies of leases, if appropriate; renovation estimates; and documentation on the business entity.
SIL Capital’s bridge loans and After-Repair Value loan program have a minimum FICO requirement of 620. The Long-Term Rental loan program has a minimum FICO of 680. The New Construction loan program has a minimum FICO of 650.
With all loans at SIL, the borrower’s credit score is taken into consideration when underwriting the loan. SIL reviews the individual’s history to determine if there is a repeating pattern of poor financial management or if an isolated incident affected the individual’s credit. We also look at the borrower’s credit in terms of the exit strategy. If the borrower intends to buy and hold rather than fix and flip the property, we will pay closer attention to FICO scores.
SIL does not charge any upfront fees during the pre-approval and approval process such as an application fee. However, the borrower is responsible for third party fees such as appraisals or project feasibility studies.
Unlike many of our competitors, SIL only charges interest on the current outstanding balance of an ARV loan. We do not charge interest on the hold back until the funds are drawn, saving you money.
SIL’s 30-year Long-Term Rental loan has adjustable prepayment options up to 5 years . There are no pre-payment penalties associated with SIL’s other loan programs.
For our Bridge Loans, After-Repair Value loan program and Buy-to-Rent loan program, SIL will consider non-owner occupied 1-4 family & multi-family real estate, condos, townhomes, 5+ unit apartments & mixed-use properties as potential collateral. For our Long-Term Rental loan program, SIL will consider non-owner occupied 1-4 family real estate, condos, townhomes, and planned unit developments (PUDs) as collateral.
SIL Capital offers an After Repair Value loan program for non-owner occupied 1-4 family & multi-family real estate, condos, townhomes, 5+ unit apartments, & mixed-use properties. SIL will lend up to 85% of the purchase price and up to 100% of the renovation costs, not to exceed to 67.5% of the after repair value.
SIL Capital is an ARV Lender. Our ARV Loan Program provides up to 85% of the purchase price with an LTV not exceeding 70% of the After Repair Value.
SIL Capital is a commercial lender meaning our loans are used for business purposes, rather than individual or personal interests. We do not provide funding for the purchase of any owner occupied residential properties. Our loans are strictly backed by non-owner occupied residential and commercial properties, and are issued to a business entity.
StrongCo Holdings® Capital's Loan Process
SIL requires basic documentation to underwrite the borrower and the property. This includes an application; authorization to run a credit report and background check; copies of bank statements (proof of funds); property appraisal; copies of leases, if appropriate; renovation estimates; and documentation on the business entity.
Broker Referral Program
SIL Capital will gladly compensate you for a referral that results in a closed loan, pursuant to local rules and regulations. It is up to you to determine whether you are legally able to accept a referral fee.
Broker fees are disclosed upfront on the commitment letter, in a transaction specific agreement with SIL Capital and on the HUD. A check is sent directly to the broker at closing.
Industry Terms
A bridge loan is typically interim alternative financing used by a business until more conventional financing is secured. The bridge loan may also be used to cover short-term cash-flow issues.
A line of credit can be used for a variety of purposes, such as the funding of construction phases, specific business purchases or addressing cash flow needs.