RAINSTAR CAPITAL GROUP FIX/FLIP/RENTAL REAL ESTATE FINANCING

 

Rainstar Capital Group has developed a diverse platform of lending solutions for clients seeking fix/flip/rental financing from $50000 to $20,000,000 requests. With a diverse base of partner lenders Rainstar Capital Group is well positioned to assist you in financing your fix/flip/rental financing real estate request.

 

Normally the reasons that fix/flip/rental financing transactions do not get completed are:

1. Borrower's track record of successful flips or owning rental real estate is not up to par with the Lender's requirements

2. Borrower does not have enough of a down payment per the lender's requirement

3. Condition of the property- some lenders do not lend on properties in need of a lot of repair

4. Equity position in the commercial real estate is not acceptable to lender's requirement

5. Borrower's expectation of rate vs rate lender is willing to give per borrower's credit profile

6. Borrower's credit score does not meet lender's requirement

7. Property is in a tertiary market

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DOCUMENTS NEEDED

For Rainstar Capital Group to process your fix/flip/rental real estate financing request we will need the following documentation. Please note the criterion if its a purchase or refinance:

 

SIGNED APP (1003 FOR FIX N FLIP/RENTAL)

PURCHASE AGREEMENT (IF PURCHASE)

TAX ASSESSMENT (IF REFINANCE)

6 MONTHS BUSINESS BANK STATEMENTS

BORROWER AUTHORIZATION

ASSET DOCUMENTS (CHECKING/SAVINGS, RETIREMENT ACCOUNTS)

INCOME DOCUMENTS: (LAST 2 YEARS BIZ AND PERSONAL TAX RETURNS, PREVIOUS YEAR P&L AND BAL SHEET, YTD P&L AND BAL SHEET)

SCHEDULE OF REAL ESTATE OWNED

PERSONAL FINANCIAL STATEMENT

SCHEDULE OF WORK TO BE COMPLETE

RECENT APPRAISAL OR BPO

 

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TYPES OF LENDER PROGRAMS*:

* Rainstar Capital Group makes no claim as to the accuracy of these lender programs as the direct lenders and fund managers that work with Rainstar Capital Group, at times change their underwriting criteria and their loan matrices. To the best of it's ability, Rainstar Capital Group updates these lender profiles based on info provided by the lenders. By applying for any program, the client acknowledges that the programs, interest rates, LTV's, etc. are subject to change based upon the lender's underwriting criteria.

LENDER #1

Lender Description: Lender is experienced in the Fix/Flip market.
Geographic lending areas: 40 States plus District of Columbia. All states except: Alaska, Arizona, California Hawaii, Nevada, North Dakota, Oregon, South Dakota, Utah, Vermont.
Loan Products: Fixed Rate Mortgage
Loan Sizes: 75K to 1M
Required Credit Scores: 620
LTV's: 75%
Min to Max Rates: 8.2% to 13.99% 

 

LENDER #2

Lender Description: Single property loans to both novice and seasoned investors.
Geographic lending areas: All 50 States
Loan Products: Line of Credit
Loan Sizes: 50K to 3MM
Required Credit Scores: 620+
LTV's: 75%
Min to Max Rates: 6.5% to 9% 

 

LENDER #3

Lender Description: Lender offers many product options.
Geographic lending areas: Nationwide
Loan Products: Fixed Rate Mortgage, Line of Credit
Loan Sizes: 50K to 3M
Required Credit Scores: 620+
LTV's: 85%
Min to Max Rates: 8%

 

LENDER #4

Lender Description: Lender has a long list of successfully funded clients in the fix/flip/rental space.
Geographic lending areas: Nationwide
Loan Products: Purchase, Refinance, Rate & Term, Cash-Out Line of Credit
Loan Sizes: 40K -10M
Required Credit Scores: 650
LTV's: 75%
Min to Max Rates: 3-8%

 

LENDER #5

Lender Description: Rental Property Loans up to 7 years.
Geographic lending areas: Nationwide
Loan Products: Fixed Rate Mortgage
Loan Sizes: 500K to 100MM
Required Credit Scores: 
LTV's: 80%
Min to Max Rates: 3-7%

 

LENDER #6

Lender Description: Fintech lender providing single family rental and fix/flip financing.
Geographic lending areas: Licensing required: AZ, CA, NC, NJ, NV, NY, OR, No licensing required: CT, CO, FL, GA, IL, MD, MI, MO, OH, PA, SC, TN, TX, VA, WA, WV.
Loan Products: Fixed Rate Mortgage, Line of Credit
Loan Sizes: 50K-100M
Required Credit Scores: 501
LTV's: 90%
Min to Max Rates: 7%

 

LENDER #7

Lender Description: Lender is a nationwide, direct private lender providing short-term loans and million-dollar lines of credit to facilitate experienced Speculators, Investors & Home Builder’s acquisition including rehab funds on single family, 1-4 unit properties with the purpose of rehabilitation and resale in the retail market place.
Geographic lending areas: Nationwide
Loan Products: Line of Credit
Loan Sizes: 100K to 1.25M
Required Credit Scores: 
LTV's: 75% 
Min to Max Rates: 10.99% to 14% 

 

LENDER #8

Lender Description: Major fix/flip/rental financing provider.
Geographic lending areas: Nationwide except: CA, AZ, NV, ND, SD, MN, VT, UT, OR.
Loan Products: Fixed Rate Mortgage, Line of Credit
Loan Sizes: 100K to 2M
Required Credit Scores: 600
LTV's: 90%
Min to Max Rates: 10.5%

 

LENDER #9

Lender Description: Popular and season lender.
Geographic lending areas: AL, AZ, CA, CO, CT, FL, GA, HI, ID, IL, KS, KY, LA, MA, MD ,ME, MO, MS, MT, NC, NH, NE, NJ, NM, NY, OK, OR, SC, TN, TX, UT, VA, WA, WI, WV, WY (licensed broker required for AZ, KS, MO, MT, NE, OR & UT) Lending in Chicago, Baltimore and Hartford on CBC basins only!
Loan Products: Fixed Rate Mortgage, Line of Credit
Loan Sizes: 100K to 2M
Required Credit Scores: 650
LTV's: 75%
Min to Max Rates: 5.99% to 7.5%

 

LENDER #10

Lender Description: A private money lender specializing in the financing of non-owner occupied residential investment properties. Lender provides Mortgage Brokers and Real Estate Investors with a fast and cost-effective funding source for their real estate investment needs.
Geographic lending areas: 
Loan Products:  Mortgage, Line of Credit
Loan Sizes: 100K to 5M
Required Credit Scores: 650+
LTV's: 75% to 80%

 

LENDER #11

Lender Description: Leading fix/flip/rental financing firm specializing in fast closings for strong borrowers.
Geographic lending areas: INELIGIBLE States: Alaska, Hawaii, Idaho, Maine, Montana, North Dakota, South Dakota, Vermont, Puerto Rico, U.S. Territories including Guam and, Virgin Islands.
Loan Products: Fixed Rate Mortgage, Line of Credit
Loan Sizes: 250K to 5M
Required Credit Scores: 600
LTV's: 80%
Min to Max Rates: 7.99% to 12% 

 

LENDER #12

Lender Description: Lender provides short-term funding for the acquisition of non-owner occupied 1-4 family residential properties.
Geographic lending areas: Nationwide
Loan Products: Fixed Rate Mortgage, Line of Credit
Loan Sizes: 50K to 2.5M
Required Credit Scores: 660
LTV's: 85%
Min to Max Rates: 3.99-8.99%

 

LENDER #13

Lender Description: The growing construction lender for builders, developers, and investor-GC’s doing 1 to 1,000 houses a year. 
Geographic lending areas:  Nationwide
Loan Products: Fixed Rate Mortgage, Line of Credit
Loan Sizes: 75K to 350K
Required Credit Scores: 650+
LTV's: 80%
Min to Max Rates: 4.99% to 8.99% 

 

LENDER #14

Lender Description: Rental portfolio loans and single asset rental loans providing liquidity and long-term peace of mind to owners of stabilized rental properties.
Geographic lending areas: Nationwide
Loan Products: Rental, Mortgage, Line of Credit
Loan Sizes: 500K to 100M
Required Credit Scores: 600+
LTV's: 75%
Min to Max Rates: 6-20%

 

LENDER #15

Lender Description: Hard Money Lender providing loan programs tailored to unique needs.
Geographic lending areas: Nationwide but primarily in California, Washington, Arizona and Oregon.
Loan Products: Mortgage, Line of Credit
Loan Sizes: 50K to 2M
Required Credit Scores: 620+
LTV's: 80%
Min to Max Rates: 12% to 18%