Lima one capital is the nation’s premier lender that provides hard loans to investors and home builders. The founder of this company is John Warren. It provides both short-term and long-term loans for fixes and flips or for multiple-family properties. This is very helpful for investors who need a large amount for investing in their business.
Loan types:
It provides three types of loans:
- Fix and flips loans ( This is a short-term loan financing for rehabs ).
- Rental loans (long-term financing for rentals ).
- Multi-family property loans (short-term financing for rehabs of properties of 5 or more units ).
Fix and Flips Loans rate and fees:
Loan rates and types are different at different levels. There are five levels of fix n flip loans, their origination fees and loan rates are discussed below.
At the first level, origination fees are 2-3% and the interest rate is 9.75 – 11.5%.
At the second level, origination fees are 1.75 – 2.5% and the interest rate is 9.25 – 10.5%.
At the third level, origination fees are 1.25 – 2.0% and the interest rate is 8.5 – 9.5%.
At the fourth level, origination fees are 1 – 1.75% and the interest rate is 8-9%.
At the fifth level, origination fees are 1 – 1.5% and the interest rate is 7-8%.
Rental loan rates and amount:
There are different types of loans and for each type, the amount is different and loan rates are also different.
- ForRental 30, interest rate is 5.5 – 7.75% and loan amount for this type of loan is $50,000 – $1,000,000. However, the maximum Loan to value ratio (LTV) for this type of loan is 75%.
- For Rental30 Premier, the interest rate is 6 – 7.9% and the loan amount for this type of loan is starting from $500,000 ( and five Properties ). However, the maximum LTV for this type of loan is 80%.
- For Rental 2+1, interest rate is N/A and loan amount for this type of loan is $50,000 – $2,500,000. However, the maximum loan to value ratio for this type of loan is 75%.
- ForFix2Rent, interest is fixed for 13 – 19 months and loan amount for this type of loan is $75,000 – $5,000,000.
- For Build2Rent, interest is fixed for 13 – 19 months and the loan amount for this type of loan is $75,000 – $5,000,000.
Multifamily property loans:
The following types of loans are given in it. First is value-added rehab the term for this type of loan is 2 years, and its interest rate is starting from 8.125%. Loan amount for this type of loan is $250,000 – $7,500,000.
The second is stabilized the term for this type of loan is two years, and its interest rate is starting from 7.125%. Loan amount for this type of loan is $250,000 – $7,500,000. Read more about Top tips for finding the best urgent cash loan online.
Top competitors of Lima One Capital:
Following are the top Competitors of Lima One Capital:
- Faster-Funds Lending. $19 Million.
- Secure One Capital. $23 Million.
- Hanover Mortgage. 289. $57 Million.
- Universal Mortgage & Finance. 336. $138 Million.
- Delancey Street. 103. $22 Million.
- North-wind Financial. 326. $72 Million.
- Imh Financial. $9 Million.
- Gauntlet Funding Group. $18 Million.
