Flexible Alternative to a Traditional Line of Credit
The benefits of utilizing the VCREF SFR Portfolio Guidance Line include the ability to draw on the facility as needed and pay interest only on the amount drawn. In addition, VCREF allows the sponsor to negotiate terms only once and have predictable financing for up to 3 years.
- Single family detached
- 2-4 units
- Warrantable condos
- Multifamily up to 20 units
- Modular homes
Purchase, rate-term, refinance and cash-out options
View SFR Portfolio Loan Matrix
SFR Portfolio Guidance Line Parameters
- $5,000,000 - $15,000,000 with a minimum of $1,000,000 initial advance
- Each subsequent advance having a minimum of $500,000
- Facility available for 3 years with each Advance on facility having its own maturity up to 2 years plus extensions
- Interest only
- Minimum of 3 properties per advance
- 1% origination fee charged only when utilized with fees declining with successive “turns” on the Facility
- LTV: 80% As- Is LTV, 90% LTC, 65% ARV LTV
- No prepayment penalty
- Draw up to 100% of renovation costs
- Minimum occupancy of 0% at close and 90% by Maturity
- Net worth: Liquid: 10% of full advance amount – Net Worth: 40% of full advance amount
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