RATE SHEET


BUY & HOLD


Financing: Up to 100% of Purchase Price

LTV: Up to 80%

Origination Fee: 4%

Interest Rate: 8.75% - 10% APR

Term: 5 years amortized over 15

Prepayment Penalty: None

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FIX & FLIP


Financing: Up to 100% of Purchase Price & Rehab Cost

LTARV: Up to 75%

Origination Fee: 5%

Interest Rate: 1% per month

Term: Up to 6 months – extensions available

Prepayment Penalty: None

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TRANSACTIONAL FUNDING


Financing: Up to 100% of Purchase Price

LTARV: Up to 75%

Origination Fee: 2%

Interest Rate: 1% per month

Term: 45 Days

Prepayment Penalty: None

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REFINANCE


Financing: Up to 100% of Purchase Price

LTARV: Up to 80%

Origination Fee: 2%

Interest Rate: 8.75% - 10% APR

Term: Term 5 years amortized over 15

Prepayment Penalty: None

Restriction: Available only to those with an active short-term loan with CoreLend Financial

Frequently Asked Questions

  • What criteria does CoreLend Financial use to approve or deny a loan application?

    • We analysis both the borrower and the property to ensure the likelihood of a positive outcome.
  • Does CoreLend Financial run my credit?

    • Yes and no. We pull a full credit report on all those seeking a buy and hold loan as apart of our standard operating procedure. When reviewing short term loan applications, we focus primarily on the asset itself and in most cases choose to not require a full credit report.
  • Will CoreLend Financial inform me if they choose to run my credit for a short-term loan application?

    • By law CoreLend Financial cannot pull your credit without your explicit approval. If during the application process, we deem it necessary to run your credit a member of our team will request that you sign an authorization letter.
  • Is there a maximum loan amount for short-term loans?

    • Yes, we cap short term loans at $250,000.
  • Is there a minimum amount for short term loans?

    • Yes, the minimum loan amount is $30,000.
  • What fees are involved when creating a loan with CoreLend Financial?

    • Doc prop Fee also known as an admin fee - $500
    • Attorney Fee - $350 required only when closing with a title company not on our preferred list.
    • Draw Fee - $150 required only when making a draw from a construction loan. An addition $25 wire fee may be applied when wire transfer is requested for construction loan draw requests.