Private Lender for Bridge Loans and DSCR Rental Loans
Make our best term sheet your competitive advantage.
Today's terms
| Loan Type | Interest Rate | Origination Fee | Term |
|---|---|---|---|
| Rental Loans | 5.75% - 7.25% | 1 to 2 points | 30 year fixed |
| Bridge Loans | 8.45% | 1 to 2 points | up to 18 months |
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The OfferMarket Promise
Competitive Terms
Access the most competitive and reliable single family bridge loans and DSCR rental loans.
Every time you request a quote from OfferMarket Capital, we provide you with our best possible terms. No negotiation. No time wasted. No question in the back of your mind if you could have gotten a better term sheet. If our terms aren't superior, then we don't deserve your business and we look forward to the opportunity to earn it on your next transaction.
Professional Service
Your real estate investing goals demand reliability and a high standard of service. We are committed to setting clear expectations, communicating clearly, and taking care of your transaction in a timely and professional manner.
Bridge Loans (fix and flip)
Also known as "hard money", "fix and flip", "fix & flip", "fix n' flip", "rehab loan", "renovation loan" and "rent flip", bridge loans allow you to purchase a property that needs to be rehabbed with up to 90% towards the purchase price and up to 100% towards the rehab budget. We do not like to refer to these loans as "fix and flip" because they are commonly used by rental property investors who buy a property in poor condition, rehab the property, rent the property, and cash out refinance the property into our DSCR rental loan. This is the BRRR method of real estate investing and cost effective bridge loans are a critical component of this strategy.
| Guidelines: | Single Family Bridge Loans |
|---|---|
| Interest Rates | 8.45% |
| Origination Fees | 1 to 2 points (% of loan amount) |
| Property Types | Single family (1 - 4 units), townhomes, PUD, warrantable condos |
| Loan Amounts | $50,000 - $25,000,000 |
| Maximum LTV, ARV | 75% |
| Maximum Loan To Cost | 90% of purchase and 100% of rehab |
| Term Length | up to 18 months |
| Minimum Guarantor FICO | 620 |
| Ownership | LLC or Corporation |
| Recourse | Full recourse |
Multifamily Bridge Loan
| Guidelines: | Multifamily Bridge Loan |
|---|---|
| Interest Rates | 8.45% |
| Origination Fees | 1 to 2 points (% of loan amount) |
| Property Types | 5+ unit and mixed use |
| Loan Amounts | $500,000 - $25,000,000 |
| Maximum LTV, ARV | 75% |
| Maximum Loan To Cost | Purchase: 80% of As-Is Value and 100% of rehab, Refinance: 75% of As-Is Value and 100% of rehab |
| Term Length | up to 24 months, with 6-month extensions |
| Minimum Guarantor FICO | 680 |
| Ownership | LLC or Corporation |
| Recourse | Full recourse, Limited recourse |
DSCR Rental Loans
Our DSCR Loans are designed for rental property investors who want competitive, transparent and reliable funding based on debt service coverage ratio, investing experience and credit score. Use our DSCR Calculator to determine your maximum loan amount.
| Guidelines: | Individual DSCR Loans |
|---|---|
| Interest Rates | 5.75% - 7.25% |
| Origination Fees | 1 point (1% of loan amount) |
| Property Types | Single family (1 - 4 units), townhomes, PUD, warrantable condos, eligible mixed use |
| Loan Amounts | $75,000 - $2,000,000 |
| Loan Types: Fixed Rate Mortgage | 30 year (fully amortizing) |
| Loan Types: Adjustable Rate Mortgage | 5/1, 7/1, 10/1 hybrid ARM (partial interest only or fully amortizing) |
| Maximum LTV for purchase or rate term refinance | 80% LTV |
| Maximum LTV for cash out refinance | 75% LTV |
| Maximum Loan To Cost if owned less than 3 months: | 80% of total cost basis |
| Maximum Loan To Cost if owned 3 - 6 months: | 5% haircut on max LTV |
| Minimum Guarantor FICO | 680 |
| Ownership | LLC (preferred), Corp, Personal (requires exception) |
| Recourse | Full recourse |
| Minimum Debt Service Coverage Ratio (DSCR) | 1.2 |
| Leased Units DSCR | Lower of in-place rent and market rent |
| Vacant Units DSCR | 90% of market rent (purchase loans only) |
Blanket Portfolio DSCR Rental Loans
| Guidelines: | Blanket Portfolio DSCR Loans |
|---|---|
| Interest Rates | 5.75% - 7.25% |
| Origination Fees | 1 to 2 points (% of loan amount) |
| Property Types | Single family (1 - 4 units), townhomes, PUD, warrantable condos, 5-20 unit properties |
| Loan Amounts | $150,000 - $ 50,000,000 |
| Loan Types: Fixed Rate Mortgage | 5, 10 and 30 year (fully amortizing) |
| Loan Types: Adjustable Rate Mortgage | 5/6, 7/6, 10/6 hybrid ARM (partial interest only or fully amortizing) |
| Maximum LTV for purchase or rate term refinance | 80% LTV |
| Maximum LTV for cash out refinance | 75% LTV |
| Maximum Loan To Cost if owned less than 3 months: | 80% of total cost |
| Maximum Loan To Cost if owned 3 - 6 months: | 5% haircut on max LTV |
| Minimum Debt Service Coverage Ratio (DSCR) | 1.2 |
| Minimum Guarantor FICO | 680 |
| Ownership | LLC (preferred), Corp, Personal (requires exception) |
| Recourse | Non-recourse with bad boy carveouts and pledge of equity |
| Lease Requirement | Minimum occupancy rate of 90% by unit count |
Multifamily Term Loans
| Guidelines: | Multifamily Term Loans |
|---|---|
| Interest Rates | 5.75% - 7.25% |
| Origination Fees | 1 to 2 points (% of loan amount) |
| Property Types | 5+ unit residential, eligible mixed use |
| Loan Amounts | $500,000 - $5,000,000 |
| Loan Types: Fixed Rate Mortgage | 30 year (fully amortizing) |
| Loan Types: Adjustable Rate Mortgage | 5/1, 7/1, 10/1 hybrid ARM (partial interest only or fully amortizing) |
| Maximum LTV for purchase or rate term refinance | 75% LTV |
| Maximum LTV for cash out refinance | 75% LTV |
| Maximum Loan To Cost if owned less than 3 months: | 80% of total cost basis |
| Maximum Loan To Cost if owned 3 - 6 months: | 5% haircut on max LTV |
| Minimum Guarantor FICO | 680 |
| Ownership | LLC (preferred), Corp, Personal (requires exception) |
| Recourse | Full recourse or non-recourse with bad boy carveout and pledge of equity |
| Minimum Debt Service Coverage Ratio (DSCR) | 1.25 |
| Lease Requirements | Minimum occupancy rate of 90% by unit count |
| Leased Units DSCR | Lower of in-place rent and market rent |
| Vacant Units DSCR | 90% of market rent (purchase loans only) |
Ground Up Construction
| Guidelines: | Ground Up Construction |
|---|---|
| Interest Rates | 8.45% |
| Origination Fees | 1 to 2 points (% of loan amount) |
| Property Types | Single family (1 - 4 units) |
| Loan Amounts | $50,000 - $2,000,000 |
| Maximum LTV, ARV | 75% |
| Maximum Loan To Cost (total) | 60% of purchase (land) and 100% of rehab |
| Maximum Loan To Cost (total) | 85% |
| Term Length | up to 18 months |
| Minimum Guarantor FICO | 620 |
| Recourse | Full recourse |
Investment Property HELOC
Tap into your investment property's equity with our Floating Rate Investment Property HELOC or our Fixed Rate Investment Property HELOC. This is a home equity loan on a rental property.
| Guidelines: | Floating Rate Investment Property HELOC |
|---|---|
| Interest Rates | 5% - 10.5% |
| Rate Type | Floating |
| Minimum Line Amount | $50,000 |
| Maximum Line Amount | $500,000 |
| Property Types | Single family (1 - 4 units) |
| Maximum CLTV | 90% (680+ FICO), 80% (640 - 679 FICO), 60% (620 - 639 FICO) |
| Income Verification: Salaried Employee | W2, 2 Years Tax Returns |
| Income Verification: Self Employed | 2 Years Personal and Business Tax Returns, YTD P&L and Balance Sheet through most recent ended quarter |
| Personal Debt To Income | 50% or 45% based on credit score and income |
| Additional requirements | approval from first lien lender, existing appraisal review, limited or full appraisal subject to loan amount and underwriter review |
| Intelligible Senior Liens |
|
| Seasoning | owned less than 6 months => lower of the purchase price or appraised value, owned 6+ months => appraised value |
| Prepayment Penalty | None |
| Borrowing Entity | Personal Name (no LLC) |
| Guidelines: | Fixed Rate Investment Property HELOC |
|---|---|
| Interest Rates | 7% - 11% |
| Rate Type | Fixed |
| Minimum Line Amount | $25,000 |
| Maximum Line Amount | $500,000 |
| Property Types | Single family (1 - 4 units) |
| Maximum CLTV | 90% (680+ FICO), 80% (640 - 679 FICO), 60% (620 - 639 FICO) |
| Income Verification: Salaried Employee | W2, 2 Years Tax Returns |
| Income Verification: Self Employed | 2 Years Personal and Business Tax Returns, YTD P&L and Balance Sheet through most recent ended quarter |
| Personal Debt To Income | 50% or 45% based on credit score and income |
| Additional requirements | approval from first lien lender, existing appraisal review, limited or full appraisal subject to loan amount and underwriter review |
| Intelligible Senior Liens |
|
| Seasoning | 6 months |
| Prepayment Penalty | None |
| Borrowing Entity | Personal Name (no LLC) |
Full Transparency
No Upfront Fees
The only fees you pay before settlement are for your appraisal. Everything else is charged via HUD-1 at settlement and provided for you in advance so you have time to review.
Fees To Expect
These are the fees you should expect in order to process your loan. We do not make any money on these fees, we simply provide each line item at cost. Other private lenders commonly pad these fees and add "junk fees" such as "Servicing", "Underwriting" and "Processing" line items -- we don't because we are on a mission to drive down the costs of real estate transactions.
| Fee | Amount |
|---|---|
| Legal Fee |
|
| Appraisal | Market Price |
| CoreLogic Credit Report | $150 |
| Title Fees | Market Price |
| Owner's Title Insurance | Optional depending on state (cost) |
| Lender's Title Insurance | Required (cost) |
| Flood Certificate | $25 per property |
| Appraisal Review (ARR or CDA) | $72.50 to $165 per property |
| Servicing Set Up | $30 | Draw Fees (construction loans) | $280 (cost) |
Fees We Don't Charge
These are the fees other private lenders commonly charge. We don't charge these fees -- not just because we don't think they are appropriate, but because we are on a mission to make real estate transactions more efficient.
| Fee | Amount |
|---|---|
| Interest Rate Spread (*) | 0% |
| Underwriting Fee | $0 |
| Processing Fee | $0 |
| Doc Prep Fee | $0 |
| Loan Servicing Fee | $0 |
(*) Unlike many private lenders, we don't make any money on the interest rate spread. We quote the exact interest rate offered by our institutional capital providers. That means you get the lowest possible interest rate and save thousands of dollars over the course of your loan. That's how we're able to offer 8.45% for our fix and flip loans when most private lenders are offering 10% - 12% or more.
How we make money
We make money on the origination fees ("points"). Points are a percentage of the loan amount. For example, if your rental loan amount is $200,000, our origination fee is $2,000.
This is the only line item where we earn a fee, every other line item is delivered to you at cost. We are proud to offer what we believe to be the industry's lowest origination fees among leading private lenders.
Our standard origination points:
- Rental loans: 1 to 2 points
- Bridge loans: 1 to 2 points
- Ground up construction: 2 points
Most other private lenders will charge 2 to 4 points AND add and pad other fee line items. That's how you save thousands of dollars when you work with us.
Most other private lenders will engage in rounds of fee line item negotiations. With OfferMarket Capital, what you see on your term sheet is the very best we can offer, there are no negotiations. If our quotes aren't the most competitive, then we don't deserve your business. That's how you save time so you can focus on building your business.
Frequently Asked Questions
Where does OfferMarket Capital lend?
OfferMarket Capital is a private lending platform for business purpose loans for experienced real estate investors.
OfferMarket Capital is a private lender in:
- Alabama*
- Arkansas*
- Colorado*
- Connecticut
- Delaware
- DC
- Florida
- Georgia*
- Hawaii
- Idaho*
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts*
- Michigan
- Mississippi*
- Missouri*
- Montana*
- Nebraska*
- New Hampshire*
- New Jersey
- New Mexico
- New York
- North Carolina*
- North Dakota
- Ohio
- Oklahoma*
- Oregon*
- Pennsylvania
- Rhode Island*
- South Carolina
- Tennessee*
- Texas*
- Utah*
- Virginia*
- Washington*
- West Virginia*
- Wisconsin
- Wyoming*
OfferMarket Capital is not currently available in the following states:
- Arizona
- California
- Minnesota
- Nevada
- North Dakota
- South Dakota
- Vermont
(*) Non-judicial state where our bridge loan pricing may be lower than advertised.
For investment properties located in the following states, your primary residence cannot serve as collateral:
- Georgia
- Iowa
- Kansas
- Maryland
- Washington
For investment properties located in the following states, 1-4 unit residential property cannot serve as collateral:
- Idaho
- Minnesota
- Oregon
- Utah
OfferMarket Capital is not available for loans to individuals under $25,000 for investment properties located in the following states:
- Alabama
- Florida
- Kentucky
- North Carolina
- Virginia
Is OfferMarket Capital a direct lender?
OfferMarket Capital is a direct lender. We are backed by institutional capital partners who buy our loans at closing. Our capital partners do not work directly with borrowers.
What documents are required?
OfferMarket Capital loans are asset-backed -- there is no W-2 or tax return required ("no doc").
- credit check (minimum score of 680 for DSCR Loan, 620 for Bridge Loan)
- appraisal
- personal guarantee based on your reported assets and liabilities
Is the credit report a hard or soft inquiry?
We use a trimerge credit report that looks at reporting from Transunion, Equifax and Experian. This report is usually a hard inquiry, however, if you have recently authorized the same report we may be able to access your report without a hard inquiry.
We look at the middle score to determine your credit score. So if Transunion is 630, Equifax is 690, and Experian is 710, the score we use is 690.
How can I qualify if my credit score is too low?
If your credit score is below our minimum (620 for bridge loan, 680 for rental loan), we recommend:
- continue to build your credit
- partner with another investor who has high credit (multi-member LLC)
Can I buy down my interest rate?
You can buy down your interest rate for our DSCR rental property loans. Buydown requests are subject to approval from underwriting and loan committee.
- 0.25% for 1 point
- 0.5% maximum buydown
Who has to personally guarantee the loan?
Anyone who owns 20% or more of the asset backing the loan is required to serve as a personal guarantor. Ownership representing no less than 51% -- but usually 80% -- must serve as personal guarantors. The exception is our DSCR rental portfolio loan which has a non-recourse option (no personal guarantee).
Is there a seasoning period?
There is a seasoning period with the following restrictions when the property is owned for less than 6 months:
| Ownership timeline | Maximum Loan |
|---|---|
| Owned less than 3 months | 80% of total cost |
| Owned 3 - 6 months | 5% haircut on max LTV |
| Purchased in cash within the last 180 days ("Delayed Purchase Loan") | eligible for all terms applicable to Purchase loans |
What loan-to-value (LTV) does OfferMarket Capital offer?
| Loan Type | Max LTV |
|---|---|
| Bridge loans | 90% of purchase and 100% of rehab |
| Rental loans (purchase) | 80% |
| Rental loans (refinance) | 75% |
| Ground up construction | 50% of land purchase and 100% of construction |
How long does it take to fund my loan?
We know how important speed is in today's competitive market. We can fund bridge loans and rental loans in as little as 15 days provided there are no delays with the appraisal, title work and borrower action items. Our target timeline is 30 days or less and you will have a dedicated loan manager to ensure a stress-free funding experience.
() Appraisal and title work is performed by 3rd party service providers and we therefore do not guarantee funding timelines.
What is the draw request process for construction loans?
Please refer to our step-by-step draw request process overview.
| Guidelines: | Draw Request |
|---|---|
| Draw fee | $280 (our cost) |
| Draw processing | 5 business days (estimated) |
| Draw amount | No limit |
| Materials reimbursement | 100% installed, 50% on-site |
Some exclusions apply. Guidelines are subject to change and this web page may not always represent current terms. Submit the form above for official terms.