Mountain View Lending’s Criteria

Property Considerations

  • Residential 1 to 4 unit rehab and resale properties
  • Multi-unit residential and commercial
  • Must be non-owner occupied
  • Lower 48 States
  • Properties must be in active, desirable neighborhoods

Borrower Considerations

  • Must be or use highly qualified, experienced contractor(s)
  • Portfolio of successful projects highly desirable
  • Borrower credit score will be evaluated but not key decision criteria

Loan Parameters (charged to project)

  • Up to 70% loan-to-after-repair-value
  • 12% annual interest paid on cash invested (both Lender and Borrower)
  • Can fund up to 100% of purchase and rehab
  • 3 to 9 month terms
  • Interest reserve built in for the term of the loan
  • Generally 4 to 6 points
  • Loan size of $50,000 to $750,000
  • No prepayment penalty
  • Split Equity
  • Possibly even fund interest escrow, points and closing costs as well with adequate collateral and the ability to show skin-in-the-game by both parties

Deal Parameters

  • Set up as borrower/lender relationship only
  • Deal must be safe and profitable for both parties
  • Both parties must show skin-in-the-game, e.g. Cross collateral of other NOO property, either by borrower or other, seller carry-back behind funding
  • Additional personal Guarantor