Programs
SFR, Condo and 2-4 units
1st Liens
- Up to 75% LTV.
- Rates from 9.99%.
- 12 – 24 months loan term.
- Minimum 600 FICO, lower – exception only.
2nd Liens
- Up to 65% CLTV.
Multifamify
1st Liens
- Loan-to-Value (LTV) up to 75%.
- Interest rates starting from 9.99%.
- Loan term options ranging from 12 to 24 months.
- Minimum FICO score of 600, with exceptions considered for lower scores.
2nd Liens
- Combined Loan-to-Value (CLTV) up to 65%.
- Customized financing solutions tailored to your specific needs and circumstances.
Residential
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Commercial loan options
1st Liens
- Loan-to-Value (LTV) up to 75%.
- Starting interest rate from 9.99%.
- Loan term options ranging from 12 to 24 months.
- Minimum FICO score of 600, with exceptions considered for lower scores.
2nd Liens
- Combined Loan-to-Value (CLTV) up to 65%.
- Requires a conventional bank 1st lien, with the bank agreeing to subordinate our junior lien.
- Ideal for businesses seeking additional financing or working capital.
Commercial
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At LBC Capital, we offer flexible fix-and-flip loan options for residential properties (1-4 units) to help you turn your renovation projects into profitable investments.
Loan terms
- Loan-to-Construction (LTC) up to 85%.
- Loan-to-After-Repair Value (LTARV) up to 65%.
- Starting interest rate from 10%.
- Minimum credit score of 640.
- Loan term options: 12 months, with longer terms available depending on the specific scenario.
Eligibility
- “No-experience” flippers considered on a case-by-case basis
- Marketable location is a requirement
Fix and Flip
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General guidelines
- Loan Amount: $150,000 to $25,000,000.
- Loan Term: 12 months, interest-only, with longer terms available in some cases (up to 24 months).
- Credit Score: Not credit score driven, making it accessible to a wider range of borrowers.
- Prepayment Premium: Case by case basis.
- Broker Fees: Minimum of 2 points, case by case.
- Lender Fees: Average of $2,500.
- Other Fees: Valuation and due diligence fees vary depending on the transaction.
Underwriting guidelines
- Experience: First-time investors have a maximum LTV of 65%.
- Income Verification: Simple documentation required.
- Down Payment: No source or equity required.
- Appraisal Process: We offer a streamlined process and cost, contact your Account Executive to learn more.
- Impounds: None.
- Foreign Investors: Maximum LTV of 65%.
Bridge Loans
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Process for Securing A Loan - Here's What To Expect
While the landscape of real estate investment can vary, several key steps remain consistent when applying for a hard money loan.
Pre-approval
Looking to leverage your real estate investment with fast, flexible funding? LBC Capital’s hard money loans could be the solution. With no prepayment penalties, you have the option to pay off your loan early. Even with less-than-perfect credit scores, you can still qualify. Whether you’re investing in your first property or expanding your portfolio, our loans provide a great option.
Points
As a borrower, you have the option to pay points – a fee calculated as a percentage of the loan amount – to the lender, which can help lower your interest rate. While this involves an additional fee upfront, it could save you money over time through reduced interest payments. Consult with our loan advisors to determine if this option is right for you.
Loan Application
The loan application process requires detailed information about you, your financial situation, and the property you wish to finance. Our dedicated team will carefully review the submitted details, including your credit history.
Down Payment
Typically, we require a down payment to demonstrate your commitment and share the investment risk. The exact amount varies based on the specifics of the loan and your situation, with our Loan-to-Value (LTV) ratio reaching up to 80%.
Appraisal
A property appraisal is conducted to determine its market value, taking into account the prices of comparable properties in the area. This process ensures an accurate and fair valuation.
Securing a Rate
With hard money loan rates subject to change, we guarantee the rate you were initially quoted when you lock it in, starting from 9.99%.
Loan Review Process
After the appraisal, we’ll thoroughly review your loan application to ensure it aligns with our lending policies and your investment goals.
Signing
Once everything is in order, all documents are sent to a title company for you to sign. Any remaining fees or funds will be due at this time.
Fast and flexible financing for your real estate investment projects in Illinios
Explore agile and flexible financing solutions tailored for your Illinios real estate endeavors with LBC Capital. Our comprehensive range of hard money loans, backed by property, includes options like fix and flip loans, bridge loans, and construction loans. Our dedicated team of experts will carefully evaluate your needs and expertly navigate you through the entire loan process. Enhance your real estate journey by contacting us today and opening the door to personalized financial success.