Major Structural Rehab Financing for 1-9 Unit Residential Projects
No upfront fees, tax returns or income verification
Eagle Commercial Funding Capital Corporation is a Direct Private Commercial Lender in 45 States. We partner with Wall Street, Hedge Funds, Insurance Companies, Private Lenders, Family Offices, SBA, Table Funders, FHA-HUD, FNMA and FREDDIE MAC.
Loan amounts: $250,000 to $5 Million per property
Nationwide except ND, SD, or VT.
Urban, suburban and rural locations
Finance up to 85% of purchase price/loan payoff plus 100% of rehab (85% BLENDED LTC) to 70% ARV
Fast, in-house draws
Term: 12-to-24-months
Competitive fixed interest paid on drawn balance
No prepayment
Origination: See PRE-APPROVAL Term Sheet
Major Structural Rehab Experience requirements LTC and ARV based:
- 2 to 4 projects started and completed last 2 years: Blended LTC 80% to 70% ARV
- Five+ started and completed last 2 years: LTC 85% to 75% ARV for 1-4-units and 70% LTC to 70% ARV for five 5+ unit multifamily
Eligible properties: 1-9-unit non-owner-occupied residential; no minimum property condition
Ineligible properties: rural, mixed-use, manufactured, condotels, farms, storage, commercial and land
Vacation properties near beaches, lakes or mountains not supported by larger cities, economies besides tourism 10% below max LTC.
Eligible projects: Structural renovations; properties not structurally sound; removal of exterior walls including roof; Adding additional story, detached ADU or more units; Adding/Subtracting square feet
Ineligible projects: New or mid-construction; conversions (case by case); mid-rehab refinance paying off a loan; properties with extensive fire or water damage
Credit requirements:
- 660+ mid FICO credit score
- No minimum tradeline required
- Multiple qualified guarantors: highest middle
- No bankruptcy, foreclosure, DIL, modification or short sales last 4 years
- Mortgage lates: no 30-day lates last 12 months or 60-day lates last 48 months
Liquidity: cash to close plus reserves to complete project and pay monthly interest;
Liquidity verification: most recent statement from checking, savings, money market CD’s, and brokerage accounts; must be complete statements – no online screen shots
Non-recourse for 25 to 50 bps
No seller notes or other subordinated debt permitted
Foreign nationals: lower leverage
Appraisals <6 months old considered
Ineligible borrowers: (1) financial crimes, (2) bankruptcy/foreclosure last 4 years: (3) Federal Tax liens must be cleared before closing
Ineligible properties: Owner-occupied, rural exotic properties, mixed-use, raw land, commercial, manufactured, mobile homes, condotels, timeshares, farms, 2+ acres per lot (exceptions) or <700 square feet per unit, extensive water or fire damage.
Loan exit strategy: profitable sale or longer-term hold to raise rents and capital appreciation
Clean title
From initial application to loan payoff, we’re here for you.
Let’s Finance Your Next Deal!
To submit your online loan request, click the blue GET STARTED Link for PRE-APPROVAL Term Sheet within 48 business hours for qualified borrowers.
No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks required for PRE-APPROVAL.
