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Rental Loans
Our single-family fix-to-rent loan is tailor-made for investors aiming to maximize their leverage when acquiring rental properties. We offer financing of up to 100% of the hard costs, which include both the purchase and renovation expenses, while capping the loan amount at 70% of the appraised After Repair Value (ARV). Should the investor present a pre-approval letter from a conventional mortgage broker, we have the flexibility to increase the loan proceeds to 75%.
The loan term spans six (6) months, and if needed, extensions of three (3) months can be granted for a nominal 1% fee. What sets our loan apart is the absence of additional fees or penalties for early repayment, providing investors with greater financial freedom and flexibility.
Who is it for?
With Harbour Lending, you can benefit from competitive interest rates, flexible terms, and quick approval processes, ensuring a true partnership between our team and yours. Our team of experienced loan officers possesses a deep understanding of the real estate market and comprehends the unique challenges investors encounter when securing financing. We collaborate with you to grasp your project's objectives and create a tailored lending solution to meet your specific requirements. If you identify with any of the investor profiles mentioned above, we encourage you to submit your pre-approval application today, and our team will promptly reach out to you to discuss your financing needs.
| Commercial Bridge Loan Rates & Terms | |
|---|---|
| Loan Amount | 70% of ARV |
| Origination Fee | 3% of loan amount (payable at closing) |
| Interest Rate | 12% interest rate |
| Pre-Payment Penalty | None |
| Term | 12 months (extensions available) |
| Liquidity Requirements | 20% of the loan amount* |
| Qualifications & Requirements |
|---|
| 630+ Credit Score |
| 3 Months Bank/Investment Statements |
| Liquidity = 20% Loan Amount on No-Cashflow Assets |
| Two Years Tax Returns |
| Completed Loan Application |
| $575 Processing Fee |