Working with our clients to generate profits from their projects
Whether its funding a fix and flip for resale or building a portfolio of investment properties, we have the people, products and processes to help you achieve your goals.
Loan Programs
Our streamlined loan programs allow our clients to increase their profits by funding more projects
Credit Score
- 680 Minimum FICO score required. Co-borrower, guarantor or collateralized asset required for those borrowers who do not meet the minimum requirement
Cash Availability
- Investors who have completed less than 2 flips must contribute 10% of the purchase price to the transaction
Property Criteria
- Non-owner occupied residential real estate
For all loan programs
- Security: First lien position
- Loan Term: 12 Month, no pre-payment penalty
- Payment: Interest only, no escrow for taxes and insurance
- Loan Size: Minimum $25,000 / Maximum $250,000
- Loan-to-value: Acquisition and rehab financing may not exceed 70% of After Renovated Value (ARV)
- Closing cost: Borrower is responsible for all closing costs at the time of closing, including, but not limited to: Attorney fees, title work, recording fee’s and property insurance
- Property Insurance: Replacement cost coverage up to the ARV of the dwelling
- Property Zoning: Legal conforming and legal non-conforming
- No Added Fee’s: No application, appraisal, inspection, loan servicing or other hidden fee’s
- No Draw Plans: All rehab loan proceeds are provided to borrowers directly at the closing
Steel Path Lending, LLC (SPL) reserves the right to modify terms and conditions of new loans originated without prior notice. All modifications made are done so at the sole discretion of the members of SPL.