Fixed Rate Loan Programs

Questions About FHA Loans? Call Us For a Free Assessment! (800) 572 – 4080

The Preeminent Lending Partner for Real Estate Investors and Developers

rockland-commercial-loans

Flexible loan programs for:

bridge-icon

BRIDGE

Fast financing for acquisitions and re- capitalization loans for finished projects.

fix-flip-icon

FIX AND FLIP

Rapid renovation capital for single- family and multifamily projects.

new-construction-icon

NEW CONSTRUCTION

Ground-up development for single-family, multifamily, and multi-unit projects.

subdivision-infill-icon

SUBDIVISON/INFILL

Ground-up development for homebuilders.

rental-hold-icon

RENTAL HOLD

Capital for stabilized/unstabilized 1-4 units and multifamily (5+ unit) buildings.

The Sprint Mortgage Difference

SPEED

Quick funding execution and construction draws allowing borrowers to maximize returns.

EXPERTISE

Broad in-house knowledge of multiple facets of real estate development including acquisition, valuation, construction and resale.

COMPETITIVE RATES & TERMS

Customized lending solutions at the forefront of the market with compelling rates and terms.

Sprint Mortgage General Lending Parameters

BRIDGEFIX AND FLIPNEW CONSTRUCTIONSUBDIVISION/INFILLRENTAL HOLD
INTEREST RATES7.0% – 10.0% interest only, fixed or floating7.0% – 10.0% interest only, fixed or floating7.0% – 10.0% interest only, fixed or floating7.0% – 9.0% interest only, fixed or floating7.0% - 8.0% interest only, fixed or floating
LOAN TO VALUE/COSTUp to 75% LTVUp to 80% LTCUp to 70 - 75% LTCVertical: up to 70% LTC (No Land or A&D)Up to 70 - 75% LTV (Min. 1.20x DSCR)
LOAN AMOUNTSUp to $5 million ($10 million for exceptionally well qualified sponsors)Up to $5 million ($10 million for exceptionally well qualified sponsors)Up to $5 million ($10 million for exceptionally well qualified sponsors)Up to $5 million ($10 million for exceptionally well qualified sponsors)Up to $5 million ($10 million for exceptionally well qualified sponsors)
ORIGINATION FEE1% to 2% annualized1% to 2% annualized1% to 2% annualized1% to 2% annualized1% to 2% annualized
LOAN MATURITIES6 to 12 months6 to 12 months6 to 24 months6 to 24 monthsInitial term 12 months (extendable out to 24 months)
TYPES OF LOANSPurchase and refinancePurchase and refinancePurchase and refinancePurchase and refinancePurchase and refinance
TYPES OF PROPERTIESNon-owner occupied SFR, multifamily, multi-unit or mixed- useNon-owner occupied SFR, multifamily, multi-unit, or mixed- useNon-owner occupied SFR, multifamily, multi-unit, or mixed- useNon-owner occupied vertical SFR and multifamilyNon-owner occupied SFR or multifamily
LIEN POSITIONFirstFirstFirstFirstFirst
GUARANTY STRUCTUREFull recourse (corporate guaranty considered)Full recourse (corporate guaranty considered)Full recourse (corporate guaranty considered)Full recourse (corporate guaranty considered)Full recourse (corporate guaranty considered)
PREPAYMENT PENALTY/YIELD MAINTENANCENoneNoneNoneNoneNone

Minimum Initial Underwriting Documentation

  • Full financial underwriting
    ˗ 2 months bank statements
    ˗ 2 years of tax returns and/or financial statements (income statement & balance sheet)
  • Evidence of successful experience and appropriate infrastructure in specific product type strategy
    Appropriate sponsor liquidity and potential covenant requirements
  • Net-worth greater or equal to loan amount
  • Subject to additional underwriting
  • FICO score of 680+
  • Geographic Markets: Genesis Capital is primarily focused on projects located in MSA’s of 250,000+ in the following states:
    AZ, CA, CO, FL, GA, NC, SC, TX, UT, WA (Other states will be project and sponsor specific)

Not currently originating loans for the following types of properties:
Micro-Housing, Co-Living, Manufactured Homes, Short-Term Rentals and Land/Horizontal

Menu