Multi-Family Loans

Short-term & long-term financing for 5+ unit apartments and mixed-use properties.

Looking for Financing Specifically for Multi-Family &
Mixed-Use Properties?...

RCN Capital offers short-term bridge financing, fix and flip financing, & long-term rental financing for
5+ unit apartments & mixed-use properties.

LOAN CRITERIA

Collateral:

Multi-Family Apartment Buildings (5+ Units); Mixed-Use Properties (Residential Space is Great than 70% of Square Footage)

Term:

12 – 18 Months (Extended Terms Available)
30-Years (Amortization Options Available

Loan Amount:

Short-Term: $250k – $10M ($1M Max per unit) Long-Term: $100k – $2M

FICO:

Short-Term: 620 Minimum
Long-Term: 680 Minimum

Collateral:

Stabilized Bridge

Purchase: Up to 75% of the As is Value Refinance: Up to 70% of the As is Value Cash-Out: Up to 65% of the As-Is Value

Fix & Flip

Purchase: Up to 80% of the Purchase Price + 100% of Renovation Costs Refinance: Up to 70% of the As-Is Value + 100% of Renovation Costs Cash-Out: Up to 65% of the As-Is Value + 100% of Renovation Costs

Long-Term

Purchase: Up to 67.5% of the As-Is Value Refinance: Up to 67.5% of the As-Is Value
Cash-Out: Up to 65% of the As-Is Value

LOAN PROGRAM TYPICAL LEVERAGE & RATES

STABILIZED BRIDGE

MAXIMUM LOAN-TO-VALUE

Purchase

Up 75% of the As-Is Value

Refinance

Up to 70% of the As-Is Value

Cash-Out

Up 65% of the As-Is Value

FIX & FLIP

MAXIMUM AFTER-REPAIR VALUE

MAXIMUM LOAN-TO-VALUE

Experienced Customer -(Completed 3+ Flips or Owned 3+ Rentals in the last 3 Years)

Light Rehab

Purchase

Up to 70% of the ARV

Up to 80% of Purchase Price + 100% of Rehab Costs

Refinance

Up to 65% of the ARV

Up to 70% of Purchase Price + 100% of Rehab Costs

Cash-Out

Up to 60% of the ARV

Up to 65% of Purchase Price + 100% of Rehab Costs

Heavy Rehab*

Purchase

Up to 65% of the ARV

Up to 70% of Purchase Price + 100% of Rehab Costs

Refinance

Up to 60% of the ARV

Up to 65% of Purchase Price + 100% of Rehab Costs

Cash-Out

Not Permitted

Experienced Customer -(Completed 3+ Flips or Owned 3+ Rentals in the last 3 Years)

Light Rehab

Purchase

Up to 65% of the ARV

Up to 70% of Purchase Price + 100% of Rehab Costs

*Rehab Budget is great than or equal to 100% of “As Is” Value (for purchase & refinance) or purchase price (of a purchase), involves more than a 20% expansion of the property of at least 750 sq ft, or involves a change of use.

LONG-TERM RENTAL

	FICO	Maximum Loan-to-Value (LTV)	Maximum Loan-to-Cost (LTC)
Purchase	720+	Up to 67.5% of the As-Is Value	Up to 67.5% Loan-to-Cost
	700 – 719	Up to 60% of the As-Is Value	Up to 65% Loan-to-Cost
	680 – 699	Up to 60% of the As-Is Value	Up to 60% Loan-to-Cost

	FICO	Maximum Loan-to-Value (LTV)
Refinance	720+	Up to 67.5% of the As-Is Value
	700 – 719	Up to 60% of the As-Is Value
	680 – 699	Up to 60% of the As-Is Value

	FICO	Maximum Loan-to-Value (LTV)
Cash – Out	720+	Up to 65% of the As-Is Value
	700 – 719	Up to 55% of the As-Is Value
	680 – 699	Up to 55% of the As-Is Value