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Hard money loan programs for Massachusetts investors
Six ways we finance investment real estate, from a 6-month flip loan to a 30-year rental loan. Every program is a business-purpose loan underwritten on the property and the deal.
Programs at a glance
| Program | What it funds | Maximum leverage | Qualifies on |
|---|---|---|---|
| Fix and flip loans | Buying and renovating a property you plan to resell | Up to 90% of purchase and 100% of rehab, capped at 70 to 75% of after-repair value | Purchase price, rehab budget and after-repair value |
| DSCR rental loans | Buying or refinancing long-term and short-term rentals | Up to 85% loan-to-value on a purchase, up to 80% on a cash-out refinance | The property’s rental income against its payment |
| New construction loans | Ground-up builds, including the land | Up to 90% of cost for experienced builders, capped at 70 to 75% of completed value | Project cost, completed value and builder experience |
| Mid-rehab loans | Finishing a project that is already under way | Cash against the as-is value plus the money to complete the work | As-is value and cost to complete |
| Portfolio loans | Several rentals under one loan and one monthly payment | Up to 80% on a purchase or rate-and-term refinance, 75% on a cash-out | Combined rental income |
| Commercial loans | Multifamily, hospitality, office, industrial and retail | Quoted deal by deal | Property type and income |
Fix and flip loans
Short-term, interest-only financing to buy and renovate a property for resale. Borrowers with a 720+ credit score can finance up to 90% of the purchase price and 100% of the rehab budget, up to 70 to 75% of the after-repair value. Investors with at least 5 flips in the last 2 years can close without an inspection or appraisal. Programs are available down to a 600 credit score at reduced leverage.
DSCR rental loans
Long-term financing for rental property, approved on the property’s debt service coverage ratio instead of your personal income. Purchases go to 85% loan-to-value and cash-out refinances to 80%. We finance long-term rentals, short-term rentals, warrantable and non-warrantable condos, condotels and foreign national borrowers. Short-term rentals qualify on projected short-term income instead of long-term market rent.
New construction loans
Ground-up construction financing at up to 90% of cost for experienced builders in major markets, within 70 to 75% of the completed value. Up to 70% of the land cost can be included. Programs are available for first-time builders.
Mid-rehab and construction completion loans
For projects that have started and need capital to reach the finish line. The loan is based on the property’s new as-is value plus the money required to complete the work.
Portfolio loans
A portfolio loan puts several rental properties under one loan. Terms are similar to a single rental loan: up to 80% loan-to-value on a purchase or rate-and-term refinance, and up to 75% on a cash-out refinance.
- One closing and one monthly payment, which reduces escrow and title costs
- A 120% partial release lets you sell or refinance a single property out of the portfolio after closing
- Investors often split a portfolio into properties to sell and properties to hold, and finance each group to match
Commercial loans
We lend on multifamily, hospitality, professional office, industrial and retail shopping center properties. Commercial loans are quoted deal by deal. Large commercial loans may carry upfront costs, which we will explain before you commit to anything.
What every program has in common
- Investment property only. We do not lend on owner-occupied homes
- No job history or debt-to-income review
- Generally no upfront fees. You pay the appraiser directly
- Loans do not report on your personal credit, and there is no limit on how many you can hold
- Terms from 6 months to 30 years
Not sure which program fits?
Tell us about the property and your plan. We will point you to the right loan and come back with leverage and pricing.