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Frequently Asked Questions

How fast can my loan close?
ALFIE can close and fund a loan as soon as 3 weeks from receipt of a completed application. Building permits are required prior to closing.
How much can I borrow on my loan?
ALFIE has a $600,000 loan limit for any single family home or townhouse/duplex unit. ALFIE’s minimum loan limit is $100,000.
Do you require collateral other than Real Estate?
No, ALFIE only requires that borrower own the lot free and clear.
How do I apply for a loan?

Click here to send us your information and one of the company partners will respond asap to set up a call to answer your questions about our process.

Will ALFIE lend to a LLC or Corporation?
Yes, all ALFIE loans must be made to an LLC or corporation. ALFIE cannot lend money to individuals.
What documents will I need in addition to the application?
The ALFIE application process is simple, in addition to our short application we require House plans, site plan, budget and personal financial statement. We do not want your tax returns.
What are the loan terms?

Current Terms: 

  • 12-month term
  • 2% origination fee (typically rolled into loan”
  • 12% interest rate (charged only on funds drawn)
  • 3-month minimum interest requirement, no prepayment penalty
  • 65% LTV Max

Do you also loan on rehab/fix and flip properties, or would you lend on a refinance?

ALFIE specializes in new construction lending for spec homes or build to rent projects.  Depending on our new construction loan volume, We can consider rehab or fix or flip loans.  For these loans maximum loan amount is lesser of 70% of total cost or 65% of after repair value, whichever is less.  Please contact us with any questions.

Do I need to be a licensed GC to use ALFIE

No, you do not need to be a licensed general contractor to borrow from ALFIE.  However, we do require that a licensed LLC build’s the spec home.  We cannot fund homes that will be owner occupied by builders or borrowers.

Can I pay off my loan before the maturity rate?
Yes, ALFIE loans do not carry prepayment penalties or fees. You are permitted to pay off your loan at any time so long as the three month minimum interest payment has been made.
How much does it cost to use ALFIE?

Please click here to use our ALFIE cost of capital estimator tool.